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EPAM Systems, Inc. ranked number 292 among fastest growing technology companies in North America on the 2002 Deloitte & Touche Technology Fast 500
Attributes 1,109% Percent Five-Year Growth Period to exploding offshore Russian IT Market
Princeton, NJ, August 15th, 2002 -
EPAM Systems, Inc. today announced that it ranked Number 292 on the 2002
Deloitte & Touche Technology Fast 500, a ranking of the 500 fastest
growing technology companies in North America. Rankings are based on
percentage revenue growth over five years, from 1997-2001. EPAM Systems, Inc. grew 1,109% percent during this period. EPAM Systems' CEO, Arkadiy
Dobkin credits the emergence of Russia as a premier Outsourcing
market, the evolution of EPAM's services delivery model and very
satisfied customers with the company's five-year, 1,109%
growth rate. "We see our sustained growth as evidence of
a maturing Russian IT Services market," said Dobkin.
"More and more, our customers are turning to Russia to
help create, sustain and deliver affordable IT services.
We are proud to lead the way."
"With its ranking on the prestigious Deloitte & Touche
Technology Fast 500, EPAM Systems' leaders have proven
that they have the vision and the fortitude to excel in
the highly competitive technology industry," said Mark A.
Evans, managing director of Deloitte & Touche's Technology,
Media & Telecommunications Group. "We congratulate EPAM
on becoming one of the 500 fastest growing technology companies
in the United States and Canada."
The Fast 500 list is compiled from three sources: Deloitte &
Touche's 20 regional North American Fast 50 programs, nominations
submitted directly to the Fast 500, and public company database research.
To qualify for the Fast 500, companies must have had 1997 operating
revenues of at least $50,000 USD and $75,000 CD, for United States and
Canada respectively, must be public or private companies headquartered
in North America, and be "technology companies" defined as companies that
own proprietary technology that contributes to a significant portion of the
company's operating revenues or devote a high percentage of effort to research
and development of technology.
Technology Fast 500 winners are invited to an exclusive CEO Summit
held each spring. The CEO Summit, now in its fifth year, is designed
to address the unique business challenges facing these super-charged
technology companies.
About EPAM Systems
Established in 1993, EPAM is a leading provider of software
development outsourcing services, e-business, enterprise relationship
management, and content management solutions. EPAM delivers low-cost,
high-quality software solutions globally using an onshore/offshore
development model. Headquartered in Princeton, NJ, EPAM has
development centers in Moscow, Russia and Minsk, Belarus. EPAM's
customer base includes such companies as Colgate-Palmolive,
Halliburton, Verizon Communications, Samsung America, CareFirst BlueCross BlueShield, Bally of Switzerland and other.
In the technology world EPAM provides services to such firms as SAP,
Brio Software, ServiceWare, PTC, and others. More
information about the company can be found at
www.epam.com
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading
professional services firms, provides assurance and
advisory, tax, and management consulting services through nearly
30,000 people in more than 100 U.S. cities. The firm is dedicated
to helping its clients and its people excel. Known as an employer of
choice for innovative human resources programs, Deloitte & Touche
has been recognized as one of the "100 Best Companies to Work For
in America" by Fortune magazine for five consecutive years.
Deloitte & Touche refers to Deloitte & Touche LLP
and related entities. Deloitte & Touche is the US
national practice of Deloitte Touche Tohmatsu. Deloitte
Touche Tohmatsu is a Swiss Verein, and each of its
national practices is a separate and independent
legal entity. For more information, please visit
Deloitte & Touche's web
site at http://www.deloitte.com/us.
For more information on the Technology Fast 50 and Fast 500 programs, please
visit
http://www.fast50.com.
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