WASHINGTON, D.C. -- Executives and guests of EPAM Systems, a leading U.S. headquartered global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe, including Ukraine, visited the New York Stock Exchange (NYSE) on Wednesday, February 8, 2012, to celebrate the company’s successful completion of its initial public offering. EPAM Systems began trading Wednesday on the NYSE under the ticker symbol “EPAM”.

In honor of the occasion, Arkadiy Dobkin, cofounder, CEO and President of EPAM Systems, joined by members of EPAM Systems’ management team, will ring the NYSE Opening Bell.  EPAM Systems has a large operation in Ukraine and is a member of the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org.  Karl Robb, President of EU Operations, Executive Vice President EPAM Global Operations, serves on the USUBC board of directors. EPAM Systems has their global headquarters in Newtown, Pennsylvania.  

PRICES INITIAL PUBLIC OFFERING OF COMMON STOCK 
EPAM Systems, Inc. (the “Company”) announced on February 7, 2012 the pricing of its initial public offering of 6,000,000 shares of common stock at a price to the public of $12.00 per share. The Company is offering 2,000,000 shares of common stock and the selling stockholders are offering an aggregate of 4,000,000 shares of common stock.  

Accoring to EPAM's news release the Company has also granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any. The shares of common stock will trade on the New York Stock Exchange under the symbol “EPAM.”

The Company intends to use the net proceeds that it receives from this offering for general corporate purposes, such as for working capital, for acquiring facilities and for potential strategic acquisitions of, or investments in, other businesses or technologies that it believes will complement its current business and expansion strategies. 

The Company said it will not receive any of the proceeds from the sale of common stock by the selling stockholders. Citigroup, UBS Investment Bank, Barclays Capital and RenCap are joint book-running managers for the offering, with Stifel Nicolaus Weisel and Cowen and Company acting as co-managers.  Citigroup is a member of the U.S.-Ukraine Business Council (USUBC).  

The offering will be made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained for free by visiting the Securities and Exchange Commission’s website at www.sec.gov.  The EPAM Systems press release did not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT EPAM SYSTEMS (NYSE: EPAM) 
Established in 1993, EPAM Systems, Inc. is a leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 7,000 IT professionals and provides services to clients worldwide using a global delivery model through its client facing and delivery operations in the United States, Belarus, Hungary, Russia, Ukraine, UK, Germany, Kazakhstan, Sweden, Switzerland, and Poland.

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 Forbes Global 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2011 Global Outsourcing 100", featuring EPAM in a variety of sub-lists, including “Leaders – Technology (Hardware & Software)” and “Leaders – Entertainment & Media”.

The company is also ranked among the best global service providers on "The 2011 Global Services 100" by Global Services Magazine and NeoAdvisory, which includes EPAM in the list of the world's "Top Outsourced Product Engineering Vendors" for the 3rd year running. (Source: EPAM Systems, www.EPAM.com)

NOTE:  EPAM Systems and Citibank are members of the U.S.-Ukraine Business Council (USUBC), Washington, D.C. www.usubc.org.

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