Princeton, NJ -- (SBWIRE) -- 02/15/2006 -- For the second consecutive year EPAM Systems (www.epam.com), a provider of software development outsourcing services, is ranked No. 1 of the “Top 5 to Watch in Central and Eastern Europe” and included in the selection of the global “Top 10 Specialty Application Development Leaders” in the exclusive annual top Global Services 100 listing of the world’s leading ITO, BPO, and customer care service providers.

Conducted by CMP-CyberMedia’s Global Services Magazine in collaboration with neoIT, the in-depth study has yielded over 250 data points that were further clustered into four categories including general company information, client data, operational capabilities and human-resource policies. Respondents to the survey included firms from 15 countries around the world, representing the most popular service-delivery destinations. The winners were selected in 10 categories based upon the strengths of the information provided and the feedback returned by the customers and industry analysts.

In the Global Services Magazine’s cover story “Meet the 2006 Global Services 100”(http://www.globalservicesmedia.com/sections/features/showArticle.jhtml;jsessionid=XVTPCGNFZ4V3SQSNDBGCKHSCJUMEKJVN?articleID=177102520) Rusty Weston, Editor-in-Chief, commented: “We looked at a combination of factors including size, profitability, a multishore presence, demonstrated capabilities and staff training or certifications. Each of these areas is essential for a world-class service provider, but what distinguishes Global Services 100 companies is their ability to effectively integrate and combine these capabilities to create value for their clients and stakeholders”.

Arkadiy Dobkin, EPAM CEO, said: “During the last several years the visibility of Eastern Europe increased significantly on the global outsourcing map. We are glad to see that EPAM’s ability to differentiate itself by delivering to our clients a consistent level of excellence in software engineering was recognized by ranking us as the overall No. 1 company in this region, and also as one of the top 10 worldwide leaders in the specific category of application development. Achieving both rankings for the second year in the row is a testament to the mature underlying processes, strong culture and clear focus EPAM is demonstrating over the years while experiencing significant growth and increasing competitiveness. We are very proud that we achieved scalability and maintained our clients’ expectations of value and quality”.

About CMP-CyberMedia LLC
CMP-CyberMedia LLC is a joint venture between CMP Media in the U.S.A. and CyberMedia in India.

http://www.cmp.com
http://www.cybermedia.co.in

About neoIT
neoIT is a management consulting firm that helps leading corporations improve and grow their business by capitalizing on services globalization.

http://www.neoIT.com

About EPAM Systems
EPAM Systems is a leading provider of software engineering outsourcing services. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, as well as support and delivery operations in UK and Germany. EPAM’s software development centers are located in Russia, Belarus, Ukraine and Hungary.
EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Schlumberger, Empire and CareFirst BlueCross BlueShields, Halliburton and technology leaders such as SAP, Microsoft, BEA Systems and Hyperion.

http://www.epam.com

For further information, please contact: press@epam.com