EPAM reconfirms its leadership position among outsourcing vendors in Central and Eastern Europe

Lawrenceville, NJ - June 29, 2007 - EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, for the second year running has made the list of the annual "2007 Top 50 Best Managed Global Outsourcing Vendors" compiled by Brown-Wilson Group, a not-for-profit outsourcing management consulting firm, author of "The Black Book of Outsourcing".

EPAM's clients responded that the company is their top-choice provider for the second year running. With majority of its development workforce located across Central and Eastern Europe (including Russia, Belarus, Hungary, and Ukraine), EPAM is the only regional outsourcing service provider who has retained a consecutive 2007 inclusion into the 50 Best Managed rating. Having demonstrated consistent strength in four survey areas such as human capital performance, C-Level commitment, corporate direction, and leadership impact, the company has been specifically commended for responsiveness to the client needs, which "sets EPAM apart as the top-ranking Russian outsourcing company". EPAM has also been noted as a "leading choice with IT offshore development buyers" with "strong consultative approach in solving engagement issues".

Besides naming the 50 best managed outsourcing vendors, the study, recognized as the only industry standard for unbiased customer satisfaction in the global services market, also delves into industry trends and client-vendor relationships and serves as a guide for the companies that are shopping for an outsourcing supplier, as well as for the suppliers helping them identify weaknesses and areas for growth. Brown-Wilson Group, in coordination with its research effort, ranked outsourcing vendors according to responses by nearly 17,000 executives and others involved in outsourcing decision-making about their experience and satisfaction with their current suppliers. The survey participation was voluntary and anonymous.

A closer look at leading outsourcing vendors as identified by the "The Black Book of Outsourcing" study - including the top-ranked outsourcing advisors and the most desirable locations for outsourcing – has been published in the Dow Jones flagship publication, The Wall Street Journal Online.

"Reconfirming our status of one of the best 50 global outsourcing vendors named to the list together with many undisputable market leaders is a great honor for us," stated Arkadiy Dobkin, EPAM CEO and President. "Our clients' recognition reflected in the survey results attests to EPAM's strong capabilities to deliver optimal business value that extends beyond the cost-saving benefits associated with IT outsourcing from Russia and other locations in Central and Eastern Europe".

About the Black Book Top Outsourcing Vendors & Top Advisors Rankings
The Black Book initiative sponsors the only annual, independent, non-biased ranking of 300 outsourcing advisors and 4,500 vendors as completely scored from over 20,000 outsourcing users' and clients' ballots. The Top 50 Best Managed Global Outsourcing Vendors ranking is based on a twenty-six measures of leadership excellence, including client satisfaction with senior management direction, leadership impact on outsourcing results, business transformation practices, client relations management, and indicators of C-Level officer commitment. Sublists in twelve categories of outsourcing, cover over 500 outsourcing functions, in 40 industries, from multiple organization sizes and locations. Sublists are rankings based on eighteen criteria of operational excellence and client satisfaction with outcomes. Surveys are conducted each year, currently in its fourth update, beginning in March with results announced in June.
www.brown-wilson.com
www.theblackbookofoutsourcing.com

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. In 2006 EPAM was selected No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the "Top 50 Best Managed Outsourcing Vendors" study. In April 2007, EPAM was rated the top Eastern European ITO service provider within "The 2007 Global Outsourcing 100" and included in the Leaders category as the only regional IT outsourcer.

The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
www.epam.com