For the third consecutive year EPAM improves its position on the Software 500 list of the leading software and services companies

Lawrenceville, NJ —October 30, 2006 - EPAM Systems (www.epam.com), the leading Software Engineering Outsourcing provider with delivery centers in Central and Eastern Europe, has made the top 300 of the Software 500, Software Magazine’s 24th annual ranking of the world's largest software and services providers.

The Software 500 helps CIOs, senior IT managers and IT staff research and shortlist business partners. The ranking is based on companies’ total worldwide software and services revenue for 2005. Although the overall Software 500 results show that growth in the software and services industry was flat from 2004 to 2005, the ranking year, EPAM has demonstrated strong revenue growth and made a leap to the 272nd position.

"The fact that EPAM has been recognized among the world’s foremost software product and services vendors for the third consecutive year and advances to a higher position year after year testifies to EPAM’s maturity in delivering high quality software engineering outsourcing services,” said Arkadiy Dobkin, EPAM CEO and President. “It also confirms our ability to successfully manage the company’s rapid growth while consistently exceeding the expectations of our growing customer base”.
The Software 500 is searchable by primary business sector on www.Softwaremag.com, free to all site registrants.


About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for nearly 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world’s largest software and services companies, now in its 24th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
www.Softwaremag.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 IT Outsourcing providers with development centers in Central and Eastern Europe on the "Global Services 100" list by neoIT and Global Services Magazine. 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 the UK and Germany. EPAM software development centers are located in Russia, Hungary, Belarus, and Ukraine.
EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft and Hyperionwww.epam.com

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

EPAM among the 3 finalists for NOA’s “IT Outsourcing Service Provider of the Year” award category and the sole finalist from Central & Eastern Europe

London, UK – October 30, 2006 – EPAM Systems (http://www.epam.com/) announced that it became the only software development company from Central and Eastern Europe named a finalist of NOA’s “IT Outsourcing Service Provider of the Year” award category. The other two shortlisted contestants included Wipro Technologies and LogicaCMG, with Wipro winning the award.

NOA (National Outsourcing Association) is a UK independent 'not-for-profit' body whose objective is to leverage effective outsourcing by promoting best practices, service and innovation in the application and development of outsourcing. The 2006 NOA Awards for Best Practice in Outsourcing are presented in association with the OUT Group and Outsource Magazine and reward innovation and achievement by suppliers, users and integrated teams within the outsourcing industry. The recognition follows evaluations by an independent panel of judges who selected the winners demonstrating outstanding excellence in outsourcing with measurable outcomes.

Commenting on the NOA awards, Karl Robb, Executive Vice-President of EPAM Systems Inc., and President of EPAM Europe, said: “Our staff feels proud and much honored to be listed as a finalist for the most coveted category of NOA’s awards. As Central and Eastern Europe’s largest IT outsourcing provider with primarily large, complex, mission-critical software engineering projects within Telcos, Financial institutions, Airlines and larger software vendors, this independent recognition based on objective judgments of professional bodies provides one valuable form of benchmark against which we can verify our own performance. This also demonstrates that a Central and Eastern European NearShore provider competes successfully with the large Indian providers as well as the European and US multi-nationals for both value and results.”


National Outsourcing Association (NOA)
The NOA is an independent body whose objective is to ensure effective business management through the promotion of best practice, service and innovation in the application and development of outsourcing. The NOA’s role is to lobby UK government, OFCOM and the European Union on matters affecting the collective interests of its members and to deliver information on market developments and lessons learned from business outsourcing.

The NOA communicates the significant benefits and strategic lessons of outsourcing to a wider audience, through conferences, seminars and publications.
http://www.noa.co.uk/

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-CyberMedia'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 the 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, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft and Hyperionhttp://www.epam.com/

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