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EPAM Reconfirms Its Leadership Position Among Outsourcing Vendors in Central and Eastern Europe by Being the Sole Regional Provider Included Into "2007 Top 50 Best Managed Global Outsourcing Vendors" by Brown-Wilson Group

Lawrenceville, NJ — June 26, 2007EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, for the second year running has made the list of the annual "2007 Top 50 Best Managed Global Outsourcing Vendors" compiled by Brown-Wilson Group, a not-for-profit outsourcing management consulting firm, author of "The Black Book of Outsourcing". The current year rankings identify the top 50 vendors as assessed by the clients via scoring and incorporate the results of The Black Book's electronic survey conducted with the purpose to draw out the outsourcing service purchasers' experience with regard to service providers globally. EPAM has been selected to the list from the pool of 1480 qualified global outsourcing vendors.

EPAM's clients responded that the company is their top-choice provider for the second year running. With majority of its development workforce located across Central and Eastern Europe (including Russia, Belarus, Hungary, and Ukraine), EPAM is the only regional outsourcing service provider who has retained a consecutive 2007 inclusion into the 50 Best Managed rating. Having demonstrated consistent strength in four survey areas such as human capital performance, C-Level commitment, corporate direction, and leadership impact, the company has been specifically commended for responsiveness to the client needs, which "sets EPAM apart as the top-ranking Russian outsourcing company". EPAM has also been noted as a "leading choice with IT offshore development buyers" with "strong consultative approach in solving engagement issues".

Besides naming the 50 best managed outsourcing vendors, the study, recognized as the only industry standard for unbiased customer satisfaction in the global services market, also delves into industry trends and client-vendor relationships and serves as a guide for the companies that are shopping for an outsourcing supplier, as well as for the suppliers helping them identify weaknesses and areas for growth. Brown-Wilson Group, in coordination with its research effort, ranked outsourcing vendors according to responses by nearly 17,000 executives and others involved in outsourcing decision-making about their experience and satisfaction with their current suppliers. The survey participation was voluntary and anonymous.

A closer look at leading outsourcing vendors as identified by the "The Black Book of Outsourcing" study - including the top-ranked outsourcing advisors and the most desirable locations for outsourcing — has been published in the Dow Jones flagship publication, The Wall Street Journal Online.

"Reconfirming our status of one of the best 50 global outsourcing vendors named to the list together with many undisputable market leaders is a great honor for us," stated Arkadiy Dobkin, EPAM CEO and President. "Our clients' recognition reflected in the survey results attests to EPAM's strong capabilities to deliver optimal business value that extends beyond the cost-saving benefits associated with IT outsourcing from Russia and other locations in Central and Eastern Europe".

About Brown-Wilson Group and The Black Book of Outsourcing

The Brown & Wilson Group has established the reputation of being the world's leading offshoring advisory, and the producer of the trusted annual ranking of the Top 50 "Best Managed" Global Outsourcing Vendors.

The Black Book of Outsourcing 2007 survey was distributed electronically to customers, employees, buyers, contractors and users worldwide in early 2007. The respondents answered 26 questions on leadership impact, influence, management performance, client satisfaction, employee satisfaction and organizational excellence amongst IT outsourcing and BPO companies. Additionally, the surveyed expressed their views on innovation, growth, internal management practices and global results.

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. In 2006 EPAM was selected No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the "Top 50 Best Managed Outsourcing Vendors" study. In April 2007, EPAM was rated the top Eastern European ITO service provider within "The 2007 Global Outsourcing 100" and included in the Leaders category as the only regional IT outsourcer.

The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

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, BEA Systems, Microsoft, and Hyperion.

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