EPAM Recognized as a Global R&D and Product Development Services Leader for Enterprise Software and Consumer Software Markets

Newtown, PA - November 11, 2014 - EPAM (NYSE:EPAM), a leading provider of product development and software engineering solutions, today announced it has been recognized by Zinnov management consulting firm as one of the leaders in 2 Software Product Development verticals: Consumer Software and Enterprise Software.

Global R&D Service Providers 2014 is an annual study by Zinnov, a leading Globalization and Market Expansion Advisory firm, which delivers a comprehensive analysis of the service provider landscape in the Electronic Research & Development and Professional Engineering Services (ER&D/PES) space.

"Most companies today recognize the significant need for strong software product development services, while previously this was a primary focus only for traditional software vendors. EPAM can now leverage over 20 years of its in-depth, hands-on experience of developing enterprise-grade products for leading global software houses to help our clients in all digitally disrupted industries," said Arkadiy Dobkin EPAM CEO and President.

Zinnov's annual Global Service Provider Rating is an exhaustive exercise that covers over 50 companies in the ER&D space. The participants were analyzed across key parameters like human capital, product development capabilities, financials, ecosystem linkages, infrastructure & innovation / IP creation, their non-linear strategy, lab infrastructure and customer relationships. The analysis process involved data collection from participating companies, interviews with end customers, and inputs from domain experts.

Founded in 2002, Zinnov - meaning Zeal in Innovation - is a leading Globalization and Market Expansion Advisory firm, with specialization in areas such as Global Sourcing, Emerging Markets Expansion, Human Capital Optimization, Small & Medium Businesses, Innovation, Cloud Computing and Enterprise Mobility. Zinnov offers advisory services to global leaders in business and technology and works collectively with them to tackle prevailing organizational challenges by analyzing changing dynamics, improving performance, and building institutional capability. The services delivered to its clients through advanced reasoning and analytical techniques, provides solutions help in integrating organizational vision, business definition and processes.

Visit us at www.zinnov.com. To request information, contact Karthik Ananth at kananth@zinnov.com

Established in 1993, EPAM Systems, Inc. (NYSE: EPAM) is recognized as a leader in software product development by independent research agencies. Headquartered in the United States, EPAM serves clients worldwide utilizing its award-winning global delivery platform and its locations in 19 countries across North America, Europe, Asia and Australia. EPAM was ranked #6 in 2013 America's 25 Fastest-Growing Tech Companies and #3 in 2014 America's Best Small Companies lists by Forbes Magazine.

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. 

Media Contacts:

EPAM Systems, Inc.
Alex Lyashok, Head of Global Operations
Phone: +1-267-759-9000 x56669
E-mail: prinquiry@epam.com

Investor Relations:

EPAM Systems, Inc.
Anthony J. Conte, Chief Financial Officer
Phone: +1-267-759-9000 x64588
Fax: +1-267-759-8989
E-mail: investor_relations@epam.com