Newtown, PA- October 8, 2013- EPAM Systems, Inc.(NYSE: EPAM), a leading software engineering and IT outsourcing (ITO) provider with development centers across Central and Eastern Europe(CEE), today announced that it has named Anthony J. Conteas Chief Financial Officer effective November 8, 2013. Anthony will replace Ilya Cantorwho will be joining a global technology company as Executive Vice President and Chief Financial Officer. Anthony J. Conte, 42, who currently serves as Vice President of Finance and compliance officer, has spent over 6 years with the Company in various positions of increasing responsibility within the finance and administration areas, and was instrumental to the IPO process. Before joining EPAM, Anthony held several senior finance roles within the McGraw Hill organization. Mr. Conteis a CPA and started his career with Coopers & Lybrandand brings over 20 years of senior- level financial management experience. He holds a B.S. in Accounting and an M.B.A. from Northeastern University. Arkadiy Dobkin, CEO and President commented, "I am very pleased to have Anthony ready to take over the CFO responsibilities. He has worked closely with Ilya for years in building and preparing the finance function for the transition to a public company, and helping EPAMsuccessfully execute its strategic plan. The breadth and depth of Anthony's experience, and his intimate knowledge of EPAM'sbusiness and operations, makes him the ideal candidate to manage our financial organization and execute the next phase of our strategic objectives." Arkadiy added, "Ilya has been an important contributor to our growth and development over the past seven years, highlighted by EPAM'ssuccessful IPO in 2012. He has strengthened our financial foundation and built a competent and deep organization, which will continue to serve our company well under Anthony's leadership. We thank Ilya for helping shape EPAMand wish him the greatest success in his future." "While it was a difficult decision for me to leave EPAMas the business is just beginning to realize its potential, this is the right time for me to take on a different set of challenges," said Mr. Cantor. "The past 7 years has been an exciting time to be a part of the EPAMteam as we grew from just over 1,000 engineers to 9,000 today. My confidence in the Company's leadership and its potential has never been higher, and I continue to be a supporter and believer of EPAM." Financial Outlook Based on current conditions and visibility, EPAMis raising full year guidance of expected year-over-year revenue growth to $542 millionto $545 millionfrom the previously announced 23% to 25% ( $533 millionto $542 million).