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2005 For EPAM: The Year of Continued Growth, Business Success and Industry Recognition

Princeton, NJ — January 19, 2006 — EPAM Systems, the leading provider of outsourced software engineering services with development centers in Central and Eastern Europe, has confirmed today that 2005 was an impressively successful year for the company. EPAM's continued growth, business success and industry recognition attained in 2005 have empowered the company to reinforce its position of No.1 software services outsourcing company with development centers in Central and Eastern Europe. The highlights of the year in review include:

  • EPAM was named #1 of "Top 5 To Watch in Central and Eastern Europe" and #3 of "Top 10 Specialty Application Development Leaders" by CMP's Managing Offshore and offshore outsourcing advisory expert neoIT in the Offshore 100 listing of top global outsourcing suppliers (
  • For the second consecutive year EPAM was named to Software 500 and was spotlighted as the second fastest growing company in the $30 million to $100 million revenue range (featured article of Software Magazine).
  • For the fourth year in a row EPAM was named to Deloitte's Technology Fast 500 program as one of the fastest growing technology companies in North America.
  • EPAM also was ranked #31 in Inc 500, a list of the 500 fastest growing private companies in the US, and was spotlighted as the 2nd fastest growing company in the IT Services subcategory of the prestigious Inc 500 rating.
  • EPAM grew geographically by launching new offices in St.Petersburg and Samara, Russia and in Kyiv, Ukraine and expanding its presence in the UK.

Arkadiy Dobkin, EPAM CEO, said: "The encouraging growth and performance results of the company in 2005 create healthy potential for new accomplishments in the year 2006. We hope to further capitalize on the increasing attractiveness of the Eastern European region as an IT outsourcing destination and on our proven capability to deliver excellence in software engineering".

About EPAM Systems

EPAM Systems is a 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 global Offshore 100 list by neoIT and CMP's Managing Offshore. Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Russia, Belarus, Ukraine and Hungary. EPAM delivers complex business and technology solutions 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 many others.

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