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EPAM Wins Its Third European ITO Leader Title and Makes to the World’s Top 10 "Best Performing IT Services Providers" on the 2008 Global Services 100

Press Release:

Lawrenceville, NJ — February 11, 2008 — EPAM Systems, Inc., the leading global software engineering outsourcing provider with development centers in Central and Eastern Europe, announced today that it has reconfirmed its status as the foremost IT outsourcing vendor in Europe. The company has been awarded the #1 position in the "Emerging European Markets" category of the 2008 Global Services 100 ranking. EPAM is also the first and the sole software engineering services provider with development locations in Central and Eastern Europe named among the global Top 10 "Best Performing IT Services Providers", rated 8th overall.

EPAM has been featured in the annual Global Services 100 ranking since its inception in 2005 and three times was named #1 among companies from Central and Eastern Europe proving its continued leadership.

The 2008 Global Services 100 is a compilation of the world’s most innovative service providers, selected on the basis of a research study conducted by Global Services Media and outsourcing analysts at neoIT. The study is designed to identify aspects of the companies' achievement in four key areas: finance, operations, clients and people. Over its 4-year history, this initiative has earned a reputation of a trusted source of global outsourcing information for ITO buyers which reveals the leading providers of business and technology services short-listed in 10 key service-delivery areas. The rating winners will receive awards at a special ceremony at the Global Services Conference in New York City on March 12, 2008.

 EPAM CEO and President Arkadiy Dobkin commented: "We are very proud of being named this year not just the leading European vendor but also one of the top 10 best performing IT services providers globally. This recognition confirms the definitive acceptance of Eastern European vendors to the elite group of ITO industry leaders based on the demonstrated delivery capabilities, depth of the engineering talent and client satisfaction."

About Global Services

Global Services is a media platform with a portfolio that includes a magazine, website, events, newsletter and customized solutions. Our audience consists of corporate professionals engaged in the sourcing and management of business and technology services. Global Services is owned by CyberMedia (India) Limited. www.globalservicesmedia.com


About neoIT


neoIT is a management consulting firm that helps leading corporations improve and grow their business by capitalizing on services globalizationsm. Through a blend of strategic advisory services and hands-on execution support, neoIT provides advice and management expertise on the globalization of Information Technology (IT) and Business Process Outsourcing (BPO) services. For more information, visit www.neoIT.com.


About EPAM Systems


New-Jersey based EPAM Systems is a leading global provider of software development outsourcing services employing the most advanced development methodologies such as RUP and Agile. CIS countries Russia, Belarus, and Ukraine, as well as Hungary in Central Europe locate EPAM’s major offshore software development centers. EPAM offers the largest resource pool in CEE combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors."

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, CareFirst BlueCross BlueShield, Schlumberger and Halliburton, and technology leaders such as SAP, Microsoft, and Oracle.
www.epam.com

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