EPAM SYSTEMS ADVANCES TO 190TH PLACE WITHIN THE LIST OF WORLD'S
500 LARGEST SOFTWARE AND SERVICE PROVIDERS

EPAM Systems, Lawrenceville, New Jersey, Monday, December 1, 2008

LAWRENCEVILLE, NJ - EPAM Systems, Inc. , the leading software engineering and IT Outsourcing (ITO) provider with delivery centers in Central and Eastern Europe (CEE), announced today that it has advanced to the 190th place on Software Magazine's annual ranking of the world's 500 largest software and service providers — The Software 500.

EPAM is proud to be named on the prestigious The Software 500 list along with 29 of its ISV (Independent Software Vendors) clients, ranging from
promising start-ups to global software leaders including three of the Top 10 honorees on the list.

Since its inception in 1993, EPAM has enabled ISVs and other technology focused organizations to build, maintain and support world-class software
products.

Today, utilizing the talent and experience of thousands of engineers located in advanced development centers across Central and Eastern Europe, EPAM
covers the complete software development lifecycle from research to prototyping and development, testing, deployment, maintenance and support for variety of products including world's leading ERP and eCommerce applications as well as specialized embedded software that controls some of the most sophisticated electronic devices.

In addition EPAM offers its unique ability to deliver complex distributed professional services including architecture level consulting, product
customization, porting and cross-platform migration, as well as deployment of mission critical enterprise level highly customized solutions built on
top of the standard product functionality.

"We would like to congratulate our 29 ISV clients who made this year's list. We extend our thanks for the opportunity we have enjoyed to grow together
and to leverage each other's strengths," commented Arkadiy Dobkin, EPAM's President and CEO, noting: "We are also confident that many of our younger, but nevertheless innovative and fast growing clients will make the list in coming years."

ABOUT DIGITAL SOFTWARE MAGAZINE, THE SOFTWARE DECISION JOURNAL AND SOFTWAREMAG.COM

The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium to large enterprises, their IT
professionals, software developers and business managers involved in software and services purchasing.

According to the results of the survey, the software industry continues to grow in total revenue, representing growth of 14.7% from the previous year,
while the total employee growth rate of 1.3% shows modest increase compared to 2007. "The Software 500 helps CIOs, senior IT managers and IT staff
research and create the short list of business partners," said John P. Desmond, Editor of Software Magazine and softwaremag.com.

Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for 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 26th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co., www.softwaremag.com.

ABOUT EPAM SYSTEMS
Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). Headquartered in the United States and serving clients worldwide, EPAM provides software development and IT related
services through its more than 4,500 professionals deployed across client delivery centers in Russia, Belarus, Hungary, and Ukraine.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development,
testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000
corporations.

EPAM is ranked among the top companies in IAOP's "The 2008 Global Outsourcing 100" and in "2007 Top 50 Best Managed Outsourcing Vendors" by
Brown-Wilson Group's Black Book of Outsourcing. Global Services Magazine recognized EPAM in its "2008 Global Services 100" list as the No.1 company in the "Emerging European Markets" and included EPAM into the global Top 10
"Best Performing IT Services Providers" .

For more information on EPAM Systems, Inc., please visit www.epam.com. For further information contact Alena Busko, Marketing Manager
EPAM Systems, Delivering Excellence in Software Engineering, Office phone: +1 (609) 613-4031, ext. 50474, E-mail: press@epam.com.