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EPAM Recognized as Poised to Become Tier 1 Global Player by Gartner

Princeton, NJ — May 1, 2003 — During the "Offshore Sourcing - What does the future hold?" session at the recent Outsourcing & IT Services Summit held on April 28th and 29th in London, the UK, Gartner, the world's leading source of strategic advice, recognized EPAM as a key player in the global outsourcing services market. Comparing current Tier 1 providers, EPAM was highlighted as one of the firms having unique capabilities permitting it to compete against the current incumbent players.

EPAM was also invited to take a part in the panel presentation "Outsourcing Offshore". The panel presented on key topics and issues such as when an enterprise should go offshore to source projects, the advantages and potential pitfalls, and what countries and suppliers should be considered.

Over four hundred attendees had an opportunity to understand how firms in countries, like Russia, are becoming key players in the software outsourcing space. This message was evidently clear during this panel presentation, in which Arkadiy Dobkin, President and CEO of EPAM, joined representatives from several Tier 1 outsourcing organizations from other regions and such established users of offshore services as GE Global, Lehman Brothers, and Deutsche Bank.

Evaluating the risks associated with outsourcing and the options to mitigate those risks was one of the prevailing takeaway themes of the Summit. Economic, social, political and cultural influences were only a few of the topics discussed that should be considered as part of a risk mitigation plan and strategy.

The agenda of the Summit focused on main topics such as Strategy and Planning, Service Providers and Markets, and Best Practices in Outsourcing. The conference contained an extended theme focused on Business Process Outsourcing. Companies are constantly looking for ways to improve overall performance while reducing overhead and costs.

Mr. Dobkin commented on the obvious success of the conference by highlighting "that the conference assisted him in assessing his own firm's strategy and confirmed EPAM's current direction on extending its service capabilities in several key industry verticals".

About EPAM Systems

Established in 1993, EPAM Systems is headquartered in Princeton, New Jersey with technology development centers in Moscow, Russia and Minsk, Belarus. EPAM is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and content management solutions. EPAM solves complex business and technology problems using an onshore/offshore delivery model.

EPAM's customer base includes CareFirst BlueCross BlueShield, SBLI USA Mutual Life Insurance Company, Colgate-Palmolive, Halliburton, Verizon Communications, Samsung America, Bally of Switzerland, among others. In the technology world, EPAM provides services to firms such as SAP, BRIO Software, ServiceWare, Multex, and others.

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