NJBIZ Awards EPAM for Continued Growth and Solid Business Performance

Press Release:

Lawrenceville, NJ — September 27, 2006 — EPAM Systems, the leading Software Engineering Outsourcing provider with delivery centers in Central and Eastern Europe, has announced that based on its last three-year revenue growth, EPAM has been named to 2006 New Jersey's Finest, the awards program honoring the state's 50 fastest growing companies.

New Jersey's Finest is produced by NJBIZ, New Jersey's premiere business news publication, and sponsored by PriceWaterHouse Coopers, Lowenstein Sandler, Attorney at Law, and PNC Bank. This award recognizes and identifies the state's most dynamic companies that have made significant contributions to the strength of its economy.

New Jersey is recognized as supporting one of the largest concentrations of Fortune 500 companies in the world: nearly one hundred companies on the Fortune 500 list have headquarters or conduct business from New Jersey. This creates one of the nation's most commercially thriving areas with a wide industrial diversification, including IT, and provides businesses in New Jersey, such as EPAM with both attractive business opportunities and intense competitive challenges.

David A. Shankweiler, CEO of Journal Publications, parent company of NJBIZ said, "We are truly fortunate to have the opportunity to recognize these outstanding companies. As business and community leaders, they are constantly redefining success within the business arena. On behalf of NJBIZ, we would like to thank and congratulate these 50 outstanding companies."

"We highly value such independent acknowledgement of our business achievements which EPAM has demonstrated alongside numerous and worthy corporations in New Jersey," commented Arkadiy Dobkin, EPAM CEO and President, who was recently featured as one of the state's notable and successful business figures in the NorthJersey.com publication upon his recognition as one of the "Top 25 Consultants" by Consulting Magazine. "As a leading software engineering services provider with the global headquarters in New Jersey, we believe EPAM makes tangible contribution in facilitating the area's profitable development."


About NJBIZ

NJBIZ, New Jersey's only weekly business journal covering the entire state, was founded in 1987. The publication has received numerous statewide and national awards including the 2006 Most Improved Award from the Alliance of Area Business Publications. NJBIZ is owned by Journal Publications Inc., a multi title publishing and events company based in Harrisburg, Pennsylvania. For more information about Journal Publications go to www.journalpub.com.


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 to Watch 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 Hungary, Russia, Belarus, Ukraine, and Armenia.

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.

www.epam.com


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