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2016-02-09

EPAM Systems, Inc: EPAM Builds Team of Specialists to Unlock the Vast Potential of Blockchain Technology

NEWTOWN, Pa., Feb. 09, 2016 (GLOBE NEWSWIRE) -- EPAM Systems, Inc.
(NYSE:EPAM), a leading global provider of product development and software
engineering solutions, announced today that a global team of experts will be
focused on identifying and implementing a new category of solutions using
blockchain technology. Blockchain, a permissionless, distributed database
technology for managing and recording transactions, is becoming a disruptive
force for most industries. This technology represents a paradigm shift in
software development, enabling the transition from distributed computing to
distributed applications.

"We are excited to apply our substantial engineering capabilities to help
drive blockchain technology innovation in Fin-tech and other industries,"
said Balazs Fejes, Co-Head of Global Business, EPAM. "Several global teams
have been working to define and implement distributed ledger technology
within the financial industry. Through our research, we have learned that
similar concepts work across multiple industries, from Insurance to Retail.
Given the potential disruptive nature of this technology, we are investing
our time and resources in designing accelerators that will enable clients to
fast-track adoption and time-to-market for their enterprises."

EPAM's team is focusing on the wider adoption of technology capabilities
supported by blockchain, which includes decentralized consensus, trusted
computing, smart contracts and proof of work. In addition, the team is
currently developing solutions for the online gambling and gaming industry,
which has already experienced disruption due to bitcoin/blockchain. Companies
across the globe see the immense potential, and the complexity, of
implementing this rapidly evolving technology.

"This technology may become a differentiating factor for many companies,
enabling them to process whatever transactions they are involved in with more
privacy, speed and efficiency," continued Fejes. "We are committed to helping
our clients explore the benefits of blockchain to help them stay ahead of the
potential disruptions to their respective industries."

For more information about EPAM's blockchain solutions, visit
http://www.epam.com/industries/financial-services

About EPAM Systems

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 over 26
countries across North America, Europe, Asia and Australia. EPAM was ranked
#6 in America's 25 Fastest-Growing Tech Companies and #3 in America's Best
Small Companies lists by Forbes Magazine.

For more information, please visit http://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.
CONTACT: Danielle Ruess-Saltz

M: 267.978.7688
danielle_ruess-saltz@epam.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EPAM Systems, Inc via Globenewswire

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