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EPAM Central & Eastern European Delivery Centers Appraised at Highest CMMI Maturity Level 5

Newtown, PA - April 24, 2014 - EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex product development and software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced its delivery centers in Hungary, Belarus, and Ukraine have been appraised at Level 5 of the CMMI Institute’s Capability Maturity Model Integration (CMMI). CMMI is a process improvement approach that provides organizations with the essential elements of effective processes that ultimately improve their performance.

“The EPAM team has implemented a set of brilliant solutions in support of business, and covers both customer needs and internal business expectations,” said J. L. Iparraguirre, CMMI High Maturity Lead Appraiser, IAL Software Engineering, S.A. With a special nod to Agile development, EPAM became the first company in Hungary to be rated at the highest CMMI maturity level. “Orientation to actual actions related to process and technologies improvement, demonstrated by EPAM’s management and staff, was exceptional for the IT industry,” added Alexander Kondakov, Consultant and CMMI Lead Appraiser, Kondakov Consulting.  

Balazs Fejes, EPAM’s Global Head of Banking and Financial Services Industry Business Unit, added, "For over 20 years, EPAM has been working with customers demanding agility, the highest quality of development, and the fastest implementation times. The CMMI Level 5 appraisal of our teams confirms that we are able to adopt agile principles to improve quality and reduce time-to-market for clients seeking to develop complex software solutions in Banking, Media, Retail and other industries.”

The full appraisal details can be found on the CMMI Institute website.

About EPAM Systems

Established in 1993, EPAM Systems (NYSE: EPAM) is recognized as a leader in software product development by independent research agencies. Headquartered in the United States, EPAM employs over 9,300 professionals and serves clients worldwide utilizing its award-winning Central and Eastern European global delivery platform and its locations in 17 countries throughout North America, Europe, and Asia. In 2013, EPAM was ranked by Forbes as #6 among America's 25 Fastest-Growing Tech Companies and #2 on the list of America’s Best Small Companies: 20 Fast-Growing Tech Stars.

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About The CMMI Institute

CMMI is the result of more than 20 years of ongoing work at Carnegie Mellon University by members of industry, government, and the Software Engineering Institute. Powered by Carnegie Mellon, the CMMI Institute is working to build upon CMMI’s success, advance the state of the practice, accelerate the development and adoption of best practices, and provide solutions to the emerging needs of businesses around the world.

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.