Released on: August 5, 2008, 7:30 am

Press Release Author: EPAM Systems

Industry: Software

Press Release Summary: SAS 70 Type II certification completed for the three
locations in Central and Eastern Europe, while the outsourcing leader becomes a
finalist for the International Business Awards in "Best MIS&IT" category.

Press Release Body: Lawrenceville, NJ - August 5, 2008 - EPAM Systems, Inc., the
leading software engineering and IT Outsourcing (ITO) provider, with delivery
centers in Central and Eastern Europe (CEE), announced today that its development
center in Kyiv, Ukraine, became an additional outsourcing location meeting the
world's leading security standards. The Kyiv center has been recently assessed for
the SAS 70 Type II requirements by Deloitte Co. Ltd., making EPAM the first company
in Central and Eastern Europe with three SAS 70 Type II location certifications,
including Budapest, Hungary, and Minsk, Belarus, and now Kyiv, Ukraine, with
guarantees of the highest operational security levels.
SAS 70, a Statement on Auditing Standards (SAS) No. 70, Service Organizations, was
developed by the American Institute of Certified Public Accountants (AICPA) as a
method to measure a service organization's efficiency in providing due controls over
sensitive customer data. With the introduction of the Sarbanes-Oxley Act, which
defines means of regulating the controls over financial reporting, the Type II SAS
70 report has been identified as the only acceptable method for a third party to
assure a service organization\'s controls and financial transparency. Unlike a Type I
report, where the service auditor will express an opinion on controls as of a
specific date, in a Type II report the auditor gives an opinion on controls in
effect during a particular period of time, making the certification more challenging
and meaningful.
Upon the assessment completion, Deloitte's Enterprise Risk Services Senior Manager
Ralph van Uden stated that all controls at EPAM's Kyiv location were placed in
operation, suitably designed, and operating 100% effectively: "The local EPAM team
was well prepared and has been very supportive throughout the week to make sure that
we could finish our testing in time. We were pleased to see that all controls in
scope were tested to be operating effectively."
As the leading organization, deploying advanced technologies and adhering to the
strictest regulatory requirements, EPAM recently completed the beta program for
VMware's Stage Manager, a breakthrough product for accelerating and automating the
delivery of applications from staging to production. This and other developments,
related to EPAM's infrastructure and security, contributed to the most recent
recognition of EPAM by the Stevie Awards as the finalist in the "Best MIS and IT
Organization" category of the 5th annual International Business Awards, with the
runner-up Accenture, and the winner British Telecom Group.
"Deploying the IT infrastructure, that meets the stringent requirements for customer
data processing, compliant with the world's leading security and infrastructure
standards, is a vital part of EPAM's enterprise-wide program. It ensures that all
our operational facilities apply the same control objectives and management
activities, and leverages our investment into our clients' competitive advantage,"
stated Balazs Fejes, EPAM's CTO. "As the acknowledged software engineering and IT
outsourcing leader, EPAM continues to lead within the Central and Eastern European
market by setting a high standards bar throughout the region, and worldwide."
About the AICPA and SAS No. 70, Service Organizations
The American Institute of Certified Public Accountants is the national, professional
association of CPAs, with more than 350,000 CPA members in business and industry,
public practice, government, education, student affiliates, and international
associates. It sets ethical standards for the profession and U.S. auditing standards
for audits of private companies, non-profit organizations, federal, state and local
governments. It develops and grades the Uniform CPA Examination. The AICPA maintains
offices in New York, Washington, Durham, N.C., Ewing, N.J., and Lewisville, Texas.

SAS No. 70, developed by AICPA, provides guidance on the factors an independent
auditor should consider when auditing the financial statements of an entity that
uses a service organization to process certain transactions. It also provides
guidance for independent auditors who issue reports on the processing of
transactions by a service organization for use by other auditors.
www.aicpa.org

About EPAM Systems
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 5,000
professionals deployed across client delivery centers in Russia, Belarus, Hungary,
Kazakhstan, and Ukraine.

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\".

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


Web Site: http://www.epam.com

Contact Details: EPAM Systems
Princeton Pike Corporate Center
989 Lenox Dr., Suite 305
Lawrenceville, NJ 08648
Phone: +1-609-844-0400
Fax: +1-609-844-0415