EPAM listed in Top 10 in its revenue category on the 2007 Software 500 rating

Lawrenceville, NJ — October 18, 2007 — EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, has - for the fourth year running - been included in the Software 500 list, Software Magazine's 25th anniversary ranking of the world's largest software and services providers. This year, EPAM has been named among the top 10 companies in the $30 M - $100 M revenue range and in its four years on the Software 500 list EPAM has increased revenue by 75% moving up 128 positions to reach No. 227 in 2007.

“The 2007 Software 500 results show that growth in the software and services industry was healthy from 2006 to 2007, the ranking year," said John P. Desmond, editor of Software Magazine and Softwaremag.com. According to the survey, the worldwide application development, maintenance and management services sector demonstrates growth of 3.5%. Compared to last year, when the total Software 500 revenue was $381 billion, the 2007 survey evidences $394 billion in the total revenue for 2006. “The Software 500 helps CIOs, senior IT managers and IT staff research and create the short list of business partners. It is a quick reference of vendor viability. That is content of value,” Desmond said. This year the prestigious ranking has been augmented with 132 new fast growing companies.

"Repeatedly making the list of the world's largest software and services providers is indicative of EPAM's notable business progress," commented Arkadiy Dobkin, EPAM CEO and President, on the company's recognition. "EPAM's proven performance is not confined only to financial growth indicators. A significant influx of quality software engineering talent and a blue-chip customer base also benchmark EPAM's success as an employer as well as a premium software engineering outsourcing partner. We would like to extend our gratitude to the EPAM partners, clients, and employees for their invaluable contribution in helping EPAM become a market leader."

About Digital Software Magazine, the Software Decision Journal, and Softwaremag 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 25th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co.