The decade-long commitment to quality and sustained growth translate into recognition, esteemed reputation and future-proof value proposition

S. Petersburg, Russia — June 9, 2004 — At Russian Outsourcing and Software Development Summit held on June 9-11, 2004 in S.Petersburg, Russia, EPAM Systems received the Russian Software Excellence Award and was named "The Most Attractive Company for Investments". The award initiated by the Russian IT association Fort-Ross was presented to the five Russian best software development companies as judged by representatives of leading IT media and analysts, investment funds and executives of big foreign IT corporations in Russia.

The acknowledged dependability factors for EPAM included:

• Consistent increase in revenues and personnel
  
• Structured offshore development methodology
  
• Proven track record
  
• Broad spectrum of completed projects
  
• Infrastructure and facilities
  
• Highly positive customer perception
  
• Analysts' perception
  
• Management commitment and vision
  

With currently over 800 employees on staff, EPAM is the biggest and one of the most prominent players of the Russian software development industry. Commenting on the Award, Arkadiy Dobkin, EPAM CEO and President, said: "The Russian Software Excellence Award is an honor for our company and, simultaneously, a fair recognition of its decade-long commitment to quality and added value for the customers and stakeholders. As part of the Russian IT sector, we all hope the Russian climate for investors will grow even more favorable over time, with the IT sector growing unrestrained and supported both by foreign investments and domestic government."

About EPAM Systems

Established in 1993, EPAM is a proven CEE leader in offshore software development. Russia, Belarus and Hungary house EPAM’s major development centers delivering custom software development services, e-business, enterprise relationship management, and content management solutions for our global clients. EPAM solves complex business and technology problems using a delivery model that combines both onsite and remote services, and was the first technology firm in Europe to achieve CMMI Level 4 certification.

EPAM's customer base includes Reuters, Samsung America, Colgate-Palmolive, CareFirst BlueCross BlueShield, Mandalay Resort Group, Halliburton among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, SUN Microsystems, and others.
www.epam.com

For further information, please contact: press@epam.com