EPAM Systems continues European Expansion with new Nordic Operation

Continuing its global growth, EPAM is strengthening its commitment to local markets in Europe by opening its first operation in Sweden and appointing Stephen Bannister as Vice President Delivery, Nordics

Princeton, NJ – Stockholm, Sweden — 14 October, 2008 - EPAM Systems, Inc. (epam.com), the leading software engineering and IT Outsourcing (ITO) provider, with delivery centers in Central and Eastern Europe (CEE), is expanding its European business with Stockholm office, the first of several offices in Scandinavia to provide “onshore” consulting and support to its Nordics clients, while enhancing its “NearShore” delivery capabilities of 4,500+ engineers in Hungary, Ukraine, Belarus and Russia.

EPAM is pleased to announce the appointment of Stephen Bannister, as Vice President of Delivery for EPAM Systems Nordic AB. Stephen will be initially focusing on establishing the Nordic management and delivery team for our Software Development, Maintenance and Support, BI, Capital Markets, Enterprise Integration and QA-Testing practices as well as the establishment of other offices in the region.

Stephen Bannister brings 26 years of international experience, 22 of which have been in Sweden. Stephen comes most recently from Lawson where he was responsible for the consulting organization in Sweden. Prior to that, Stephen had a global responsibility within the Oracle Global Support organization and held consulting management roles at Netscape, SUN, Informix, and ICL.

”The adoption of Offshore and NearShore services is growing in Scandinavia, providing excellent timing to leverage EPAM’s maturity and deep experience as the leading Central and Eastern European service provider. Adding a solid Scandinavian presence of domain consultants, technical engagement leaders, and project managers, reflects EPAM’s balanced approach to NearShore service delivery. Several members of EPAM’s senior management team have lived and worked in Sweden for many years, as have a handful of our senior NearShore delivery leaders - so EPAM knows the culture, the processes, and the language and believe that this model will provide the ideal alternative to distant Offshoring and providers heavily biased towards onshore services,” stated Karl Robb, Executive Vice President of EPAM Systems, Inc., and President of EPAM Europe. “EPAM is a people company. Stephen is someone with whom I worked at ICL in Belgium and in Sweden for 4 years and who was later a happy customer of EPAM while he was at SUN Microsystems in Stockholm. I know him, trust him, and I’m unquestionably confident in his abilities to successfully build EPAM’s operations in the Nordics.” he added.

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 5200 professionals deployed across client delivery centers in Hungary, Belarus, Ukraine, and Russia.

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".

EPAM has successfully delivered projects to industry leaders such as Reuters, London Stock Exchange, Renaissance Capital, Schlumberger, Colgate-Palmolive, SAS, Coca-Cola, Colgate-Palmolive, British Telecom, Hotels.com, Expedia, Telenor Group, CareFirst BlueCross BlueShield, Schlumberger, ScrewFix, AeroMexico, Siberian Airways, and Halliburton, and technology leaders such as SAP, Microsoft, and Oracle and BEA Systems.

For more information on EPAM Systems, Inc., please visit www.epam.com.

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

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www.epam.com
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