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EPAM Recognized as No.1 Company to Watch in Central and Eastern Europe in First Annual "Offshore 100" Round-Up of Top Global Offshore ITO and BPO Service Providers

Press Release:

By being also named number three of "Top 10 Specialty Application Development Leaders", EPAM becomes one of the elite members of the "Offshore 100" listing

Princeton, NJ — January 18, 2005 — EPAM (www.epam.com), the leading provider of outsourced software engineering with development centers in Eastern Europe, announced today that it has been named to the Annual Offshore 100 ranking of top global suppliers by CMP's Managing Offshore and offshore outsourcing advisory expert neoIT.

"neoIT and Managing Offshore created the Offshore 100 to identify the global universe of ITO and BPO suppliers," noted Managing Offshore's Editor Rusty Weston. Over 250 data points were analyzed from a wide range of service providers that included large multi-national firms, emerging BPO providers and small domestic IT services firms. The data points were clustered in four categories that included general company information, client data, operational capabilities and human resource policies. Respondents to the survey included firms from 13 countries around the world representing many of the most popular offshoring destinations.

"EPAM Systems has focused on becoming the leading provider of quality software engineering services utilizing its Eastern European development centers since its inception in 1993. We are glad to see a confirmation of our strong position in the region by being recognized as number one of "Top 5 To Watch in Central & Eastern Europe". We are also especially proud to be named to the third place of "Top 10 Specialty Application Development Leaders" where EPAM was compared with an array of great companies from all around the world", said Arkadiy Dobkin, EPAM CEO. "I am sure this listing, resulting from a detailed research conducted by independent experts, will benefit both the global suppliers who get additional visibility and the customers who often name the right vendor selection among the major challenges of outsourcing projects and who now will be able to make more reasonable choices and accurate decisions."


About CMP's Managing Offshore

CMP Media's Managing Offshore (www.ManagingOffshore.com) is a monthly newsletter for global-sourcing managers. Subscriptions to Managing Offshore include 12 monthly issues plus unlimited access to a library of previous issues, articles in HTML format, and bonus downloads such as exclusive research reports. Managing Offshore also produces the exclusive Managing Offshore Index, an interactive stock listing of 20 of the most influential providers of offshore services.


About neoIT


neoIT is the leading offshore advisory and management firm. neoIT focuses exclusively on assisting companies in maximizing their returns from the offshore sourcing of both information technology and business processes on either a project or enterprise wide basis. neoIT solutions deliver results in the form of cost savings, improved governance, reductions in sourcing process time and decreased risks with offshore supplier partnerships or own operations. neoIT's clients for offshore advisory and management include leading Global 5000 firms in financial services, insurance, healthcare, telecommunications, utilities, oil and gas, consumer goods, logistics, retail, entertainment, manufacturing and other industry sectors. For more information, visit www.neoit.com


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.

EPAM's customer base includes Reuters, Samsung America, Colgate-Palmolive, Empire and CareFirst BlueCross BlueShield, London Stock Exchange, Halliburton, and British Telecom among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft and others.

www.epam.com


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