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EPAM Named to Software Magazine's 22nd Annual Software 500

Software Magazine Ranks EPAM Systems as one of the World's Largest Software Companies

Princeton, NJ — September 22, 2004 — EPAM Systems, the largest IT outsourcing provider with advanced software engineering centers in Eastern Europe, today announced its inclusion on the Software 500, Software Magazine's list of the world's foremost software and services providers, published as an online catalog on

The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting enterprise IT organizations. The list includes both private and public companies; 30% of the 2004 Software 500 companies are private. The financial information was gathered by a survey prepared by King Content Co. and posted at, as well as from public documents.

EPAM was ranked number 355, with the revenue growth in 2003 reaching 43%, being the only software development service provider from Eastern or Central Europe included in the Software Magazine's Software 500 list.

"The software industry remains extremely dynamic, with 140 new companies appearing on the 2004 Software 500 list. Overall results were mixed but total revenue for the 500 was up 14% and total employment up 8%", says John P. Desmond, Editor of Software Magazine and "Sectors strong this year include security, business process management and system integration services including outsourcing services. Site visitors will notice changes to the Software 500 online this year that make it easier to navigate. Our aim is to help CIOs, senior IT managers and IT staff research their partner options and that is a valuable service."

"It is an honor to be listed among the world's blue-chip software companies", said Arkadiy Dobkin, EPAM's CEO. "The major factors driving our success, we believe, are our extraordinarily talented personnel, extremely selective hiring policies, heavy investment in training and a complete and unwavering commitment to excellence, quality and performance. Our goal has always been to lead, to push new limits and to innovate and not just be another vendor in the group. Fortunately our clients have afforded us the chance to realize this and have reaped the rewards along with us. Accordingly, I would like to express our gratitude to our customers and partners for placing their trust in EPAM to meet business-critical technology and process challenges, which should allow us to achieve even more aggressive 65-70% growth in the current year".

About, The IT Software Journal, The IT Software Journal, is the Web publishing effort of Software Magazine, a brand name in the industry for over 20 years. is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies, now in its 22nd year. Software Magazine and are owned and operated by King Content Co., the Web content development and publishing firm run by John P. Desmond.

Software 500 Contact:
Kelley Conrad
Software 500 Project Leader


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 onsite presence (in US and EU) with Eastern European offshore and nearshore 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, Encorus, Mandalay Resort Group, Halliburton, Xelus, British Telecom among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, SUN Microsystems, and others.

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