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EPAM's CEO Arkadiy Dobkin Invited to Speak on Multi-Sourcing Potential in Eastern Europe at Forrester's GigaWorld IT Forum Europe

Princeton, NJ — June 6, 2005 — EPAM's CEO Arkadiy Dobkin will share his views on the multi-sourcing potential in Eastern Europe during a press roundtable at Forrester's GigaWorld IT Forum Europe, a must-attend event for IT and business executives charged with choosing and implementing technologies that gain and maintain the competitive advantage.

The roundtable, followed by an open forum discussion with the journalists, will address the question "Who owns outsourcing in the enterprise?".

Firms that use outsourcing often expect this approach to provide more standardized IT delivery at low cost. With the rise of globalization, and more recently offshore outsourcing, pressures in this direction have increased substantially, and caused more CEOs and CFOs to begin to look at outsourcing options more seriously. Market commentators believe that this trend will accelerate - especially with the rise of utility computing and greater impact of open standards in ICT. At the same time, globalized innovation is driving new market structures and business processes and companies are finding they progressively need to partner with third parties, and be part of the right networks, in order to keep up with the pace.

Mr. Dobkin will provide an insight into the changes in the Eastern European vendor landscape over the last 7 years, highlighting the players that could offer competitive services today, give an overview of the EE government initiatives that are planned to support the ICT sector. Mr. Dobkin will also make projections for the Eastern European ICT market development over the next several years.

Additionally, the roundtable will look at some key trends in technology influencing the strategic sourcing landscape.

About Forrester

Forrester (NASDAQ, ticker symbol FORR) is an independent technology research company that provides pragmatic and forward-thinking advice about technology's impact on business. Business, marketing, and IT professionals worldwide collaborate with Forrester to align their technology investments with their business goals.

Forrester offers products and services in four major areas: Research, Data, Consulting, and Community. Established in 1983, Forrester is headquartered in Cambridge, Mass.

About EPAM Systems

EPAM Systems is Eastern Europe's leading provider of software development outsourcing services. In January 2005 EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" and No.3 of "Top 10 Specialty Application Development Leaders" on the Offshore 100 by CMP's "Managing Offshore". 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.

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