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EPAM Systems Announces Partnership With SAP to Support the Creation of SAP® xApps™ Packaged Composite Applications™

EPAM Systems participates in the development of SAP xApps composite applications;
To deliver "Next Practices" applications based on the SAP NetWeaver™ technology platform

Princeton, NJ — July 29, 2003 — EPAM Systems, a software company headquartered in Princeton, NJ with major development offices in Moscow, Russia and Minsk, Belarus today announced that SAP AG (NYSE: SAP), the leading global provider of business application software, has selected EPAM Systems as a core development partner for SAP® xApps™ composite applications.

The partnership leverages the extendibility of the SAP NetWeaver™ technology platform along with a high quality, cost effective delivery model provided by EPAM. Extensions and customized solutions can be quickly developed and implemented by using EPAM's knowledgeable offshore resources located in Russia and Belarus, who have substantial experience working on "next practices" applications.

"We are pleased to extend our relationship with SAP," said EPAM CEO Arkadiy Dobkin. "This is a very important opportunity for us and we see a great potential for SAP xApps composite applications. With the SAP NetWeaver technology platform, companies like EPAM have the opportunity to develop solutions that uniquely address client's needs and deliver specific custom functionality. These solutions complement composite applications while supporting integration into SAP enterprise applications. We think EPAM is well positioned to successfully deliver such projects based on our experience and winning onsite/onshore/offshore delivery model."

SAP xApps are packaged composite applications that drive "next practices" for business innovation. SAP xApps align people, information and business processes across heterogeneous landscapes to help customers execute corporate-wide strategies with greater ease and efficiency. Built upon the SAP NetWeaver integration and application technology platform, SAP xApps composite applications are designed to be interoperable and to integrate easily with legacy systems and new applications.

Multiple development teams from EPAM are currently working alongside SAP development engineers from Walldorf, Germany, Palo Alto, California, and Bangalore, India in the creation of new composite applications. Last year EPAM was involved in the development of the first shipped SAP xApp composite application, SAP xApp™ Resource and Program Management (SAP xApp RPM).

This development builds on EPAM and SAP's successful partnership over the past seven years. EPAM has been involved in different types of activities from prototyping to development and support. EPAM also proved its ability to build complex eBusiness solutions using a transparent delivery model. This model allows effective cooperation of its' on-site/onshore/offshore development teams with a client's globally distributed teams.

"We selected EPAM for this critical project after they exceeded our expectations in collaboration with us on the first SAP xApps composite application, and based on their demonstrated ability to handle our complex requirements and sophisticated technologies," said Dennis Moore, senior vice president, xApps, for SAP Labs LLC. "EPAM has been an effective and trusted development partner with SAP for years now, and we look forward to continuing our relationship with EPAM as a core development partner for SAP xApps composite applications and other SAP products."

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 on-site/onshore/offshore delivery model.

EPAM's customer base includes CareFirst BlueCross BlueShield, Reuters, 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, Logic Library and others.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's Annual Report on Form 20-F for 2002 filed with the SEC on March 21, 2003. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

SAP, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies.

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