Press Release: October 24, 2012

Newtown, PA - October 24, 2012 - EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, announced the successful launch of Sephora's e-commerce Website. This project was a result of EPAM's collaboration with Sephora USA, the North American division of the world's leading retailer of cosmetics and beauty products.

EPAM helped launch the next-generation version of Sephora.com, a new resource that Sephora calls its "social and mobile makeover".  The new site is based on Oracle ATG Web Commerce technology. It offers the best organized search functionality for beauty products on the Web. The solution presents new product "quick views" and simplifies the checkout process. New features enable users to check in-store stock at local stores, create shopping lists, and read product reviews. Enhanced integration with Sephora's client loyalty program, Beauty Insider, helps clients check point balances, available rewards, and previous purchases. New mobile applications for iPhone and iPad complete the solution to provide the best-in-class online shopping experience.

The launch was successful due to EPAM's deep understanding of Oracle ATG Web Commerce technology and its experience in implementing e-commerce solutions for the world's leading retailers. EPAM's global delivery team partnered with Sephora's engineering team and provided expert engineering, testing and data migration assistance.  The new Website has received good press for its innovative, industry-leading features and has helped to fuel the growth of Sephora's online business.

"We are proud to be a part of the successful sephora.com launch. This initiative builds a solid foundation for our partnership with Sephora, enabling us to deliver the next generation of cross-channel, user-centric e-commerce experiences," said Valeri Makovik, Vice President, Technology Solutions of EPAM Systems, and head of EPAM's E-Commerce Center.

"EPAM has been a phenomenal partner with vast experience in e-commerce space and breadth of technical expertise - exactly what we needed to launch the site," said Savio Thattil, Vice President Engineering at Sephora.

About Sephora Americas

Since 1998, Sephora has been TRANSFORMING BEAUTY in the U.S. Today, Sephora Americas operates more than 300 stores in the U.S. and Canada as well as the world's top beauty website, Sephora.com. In 2010 Sephora expanded into Latin America where it partnered with the Brazilian beauty market leader Sacks.com, in 2011 opened two retail stores in Mexico and in 2012 opened one retail location in Brazil.  Sephora is well known for its unique retail concept, which is rooted in its distinctive open-sell store design, the beauty expertise of its sales consultants and, most importantly, its unparalleled combination of over 200 classic and emerging brands across a broad range of product categories including skincare, color, fragrance, bath & body, smilecare, and haircare, as well as Sephora's own private label. Sephora has also been recognized as a leading digital brand and continues to advance this arena through mobile and social media initiatives including an active Facebook page, BeautyTalk-its online beauty community, its mobile site and Apps. In addition to its North and Latin American business and its initiative with JCPenney, which includes more than 300 Sephora inside JCPenney locations, Sephora today has more than 1,600 stores within 29 countries in Europe and 115 locations in China. Sephora was founded in France in 1970 and acquired in 1997 by Paris-based LVMH Moët Hennessy Louis Vuitton, the world's leading luxury products group. For further information, please visit www.sephora.com

About EPAM Systems

Established in 1993, EPAM Systems (NYSE: EPAM) provides complex software engineering solutions through its award-winning Central and Eastern European service delivery platform. Headquartered in the United States, EPAM employs over 7,700 IT professionals and serves clients worldwide from its locations in the United States, Canada, UK, Switzerland, Germany, Sweden, Belarus, Hungary, Russia, Ukraine, Kazakhstan, and Poland.

EPAM is recognized among the top companies in IAOP's "The 2012 Global Outsourcing 100", featuring EPAM in a variety of sub-lists, including "Leaders - Companies in Eastern Europe". The company is also ranked among the best global service providers on "The 2012 Global Services 100" by Global Services Magazine and Neogroup, which names EPAM  "Leaders - Global Product Development" category.

For more information, please visit www.epam.com

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.

 
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