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EPAM Makes the World's "Top 50 Best Managed Outsourcing Vendors" Achieving the Highest Rank Among Central and Eastern European Software Engineering Outsourcing Providers

Lawrenceville, NJ — August 7, 2006EPAM Systems today announced that on the rating of "Top 50 Best Managed Global Outsourcing Vendors 2006" the company received the highest rank among software engineering outsourcing service providers with delivery centers in Central and Eastern Europe, including Russia, Hungary, Ukraine and Belarus. The award is based on a comprehensive survey and analysis of 872 outsourcing vendors in 63 countries conducted by Brown-Wilson Group, a not-for-profit outsourcing management consulting firm.

Douglas Brown, President of Brown-Wilson Group and co-author of "The Black Book of Outsourcing", has noted: "EPAM has demonstrated consistent strength in all the survey areas. The company is headed by a truly international and highly experienced executive team which successfully manages the company's dynamic growth and is dedicated to partner-style relationships with the company's clients."

EPAM CEO Arkadiy Dobkin, who was recently named one of "Top 25 Consultants of the Year" by Consulting Magazine, commented on EPAM's distinction: "It is very rewarding for us to see this recognition as a confirmation of our commitment to Delivering Excellence in Software Engineering. The highest rank among software development outsourcing companies with delivery centers in Central and Eastern Europe solidifies our leadership position in this region and encourages us to continue investing in employee selection and training as well as in high-quality and efficient production processes."

About Brown-Wilson Group and The Black Book of Outsourcing

Released in April 2005 by Wiley Publishers, THE BLACK BOOK OF OUTSOURCING (Douglas Brown, Scott Wilson) continues to be the world's best-selling book on outsourcing, on the major booksellers' lists for over 60 consecutive weeks. The authors are the principals of the not-for-profit outsourcing advisory firm, Brown-Wilson Group of Clearwater, Florida and are adjunct professors of Syracuse University's Outsourcing Management Institute.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by CMP-Cyber Media's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

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