Press Release: October 18, 2012

Newtown, PA - October 18, 2012 - EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced its inclusion in InformationWeek 500, an annual listing of the nation's most innovative users of business technology. EPAM was recognized for designing and implementing a suite of innovative systems to support globally distributed software engineering services delivery. The 2012 list was revealed on September 11, 2012 at a gala awards ceremony at the exclusive InformationWeek 500 Conference which took place at the St. Regis Monarch Beach Resort, Dana Point, CA.

"We are honored to be ranked among America's top 250 technology innovators," said Arkadiy Dobkin, CEO and President of EPAM Systems. "We have close to 20 years of experience in engineering products for some of the world's most demanding software companies. Today, we apply that unique experience to develop our proprietary systems bringing the benefits of optimized distributed software development to our clients."

"The InformationWeek 500 has recognized the most innovative users of business technology for 24 years, and this year's innovations were particularly impressive," said InformationWeek Editor In Chief Rob Preston. "What the editors looked for are unconventional approaches-new technologies, new models, new ways of grabbing business opportunities and solving complex business problems with IT." InformationWeek identifies and honors the nation's most innovative users of information technology with its annual 500 listing, and also tracks the technology, strategies, investments, and administrative practices of America's best-known companies. Past overall winners include PACCAR Inc., The Vanguard Group, CME Group, National Semiconductor, Con-Way, and Principal Financial Group. The InformationWeek 500 rankings are unique among corporate rankings as it spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders.
 
About InformationWeek Business Technology Network

The InformationWeek Business Technology Network provides IT executives with unique analysis and tools that parallel their work flow-from defining and framing objectives through to the evaluation and recommendation of solutions. Anchored by InformationWeek, the multimedia powerhouse that looks across the enterprise, the network scales across the most critical technology categories with online properties such as DarkReading.com (security), NetworkComputing.com (networking and communications) and BYTE (consumer technology). The network also provides focused content for key IT targets, such as CIOs, developers and SMBs, via InformationWeek Global CIO, Dr. Dobb's and InformationWeek SMB, as well as vital vertical industries with InformationWeek Financial Services, Government and Healthcare sites. Content is at the nucleus of our information distribution strategy-IT professionals turn to our experts and communities to stay informed, get advice and research technologies to make strategic business decision.

Additional details on the InformationWeek 500 can be found online at www.informationweek.com/iw500/.

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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