EPAM Named One of New Jersey's Fastest Growing Technology Companies For the 3rd Consecutive Year by Deloitte & Touche

Press Release:

Princeton, NJ — August 13, 2004 — For the third consecutive year, EPAM Systems has been named to Deloitte & Touche's prestigious Technology Fast 50 Program for New Jersey, a ranking of the 50 fastest growing technology companies by Deloitte & Touche LLP, one of the world's leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999-2003.

EPAM's increase in revenues of 790 percent from 1999 to 2003 resulted in a 13 ranking overall in the Fast 50 for New Jersey, growth that has been maintained into the first half of 2004.

Paul Mlynarski, Tax Partner and Chair of the New Jersey Technology Fast 50, noted: "In today's economy, triple-digit percentage revenue growth (790% for EPAM) is an exceptional accomplishment. We commend EPAM for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor EPAM Systems as a Deloitte Technology Fast 50 winner."

"Being selected in the 13th position in a state where there are so many exciting and successful technology companies, in one of the toughest and most competitive markets is something we are really proud of", said the delighted Arkadiy Dobkin, EPAM's CEO. "I have to thank the 1000 dedicated staff from the US, Russia, Belarus and Hungary for their efforts and energy, as well as our clients for allowing us the privilege of exercising that effort and energy."

Along with all U.S. and Canadian based Technology Fast 50 winners EPAM is automatically entered in the Deloitte Technology Fast 500, the firm's ranking of the fastest growing technology companies in North America. To learn more about the Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.


About Deloitte

Deloitte, one of the nation's leading professional services firms, provides audit, tax, financial advisory services and consulting through nearly 30,000 people in more than 80 U.S. cities. Known as an employer of choice for innovative human resources programs, the firm is dedicated to helping its clients and its people excel. "Deloitte" refers to the associated partnerships of Deloitte & Touche USA LLP (Deloitte & Touche LLP and Deloitte Consulting LLP) and subsidiaries. Deloitte is the US member firm of Deloitte Touche Tohmatsu. For more information, please visit Deloitte's web site at www.deloitte.com/us.

About EPAM Systems


EPAM Systems is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and knowledge and content management solutions. Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Moscow, Russia, Minsk, Belarus, and Budapest, Hungary. 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