EPAM Brings eCommerce to Travel with New Travel Search Engine for TUI Russia & CIS

Newtown, PA - July 8, 2014 - EPAM Systems, Inc. (NYSE:EPAM), a leading provider of product development and software engineering solutions known for its award-winning Central and Eastern European global delivery platform, has delivered the TUI Fast travel search engine for TUI Russia & CIS. Unique to the Russian market, the search engine primarily targets travel agencies, which can access it at www.agent.tui.ru, and is also available for individual customers at www.tui.ru. With TUI Fast, professional travel search becomes more convenient: request processing time is reduced by 75%, zero result searches are eliminated, and search result relevance is significantly increased. Together with a simpler, more intuitive interface, this enables broader capabilities for EPAM's partners.

EPAM has been collaborating since 2009 with VKO Club, later merged with TUI Russia & CIS. EPAM first worked with TUI Russia & CIS on the www.tui.ru portal, recognized as the largest website built on the Kentico CMS platform in 2012.

"In the travel industry, success is defined by how efficiently you work with your partners. This is why it is crucially important for us to give travel agencies, which form the foundation of our business, fast and convenient tools for travel search. We continue to develop our relationship with EPAM Systems as their technological and business competencies help us create cutting-edge IT solutions for effective partnerships within Retail," said Ivor Vucelic, Marketing and Sales Director, TUI Russia & CIS.

"EPAM Systems has a long and successful track record working with clients in Travel, primarily with large international brands such as Hotels.com, Expedia, Four Seasons, Intercontinental Hotels Group, and TUI. This experience gives us the grounds to form a dedicated competency center, and one of its key directions is development and implementation of e-Commerce systems for Travel. Enhancing search tools for TUI Russia & CIS is more than optimizing technologies: it positively impacts conversion of agents' requests into actual tour sales," says Artak Oganesyan, Director, Business Development, EPAM Systems.

The search engine's functionality includes an aggregated price comparison for chosen dates by country, region, city, and vacation type; search within any time range, with flights on particular weekdays, and within a particular budget by selected country, resort, hotel, etc. In search results, travel tours are combined automatically by hotel, which enables simpler and faster comparison of tour prices by various accommodation types within a single hotel or a range of selected hotels. Search results can be easily filtered by parameters such as hotel facilities (Wi-Fi, ocean view, etc.), vacation type or concept, and more.

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About TUI Russia & CIS

TUI Russia & CIS is a joint venture created by TUI Travel PLC, a European leader in the tourist industry, and the financial company S-Group Capital Management, a part of the holding company under the leadership of Alexey Mordashov, CEO and chief shareholder of Severstal Group. The company works with massive tourist destinations and serves more than 800 thousand people annually.

TUI Travel PLC is one of the most profitable tour operators in the world, with 40 years of experience in travel business. In 2013, its operating profit was £589 million. The company invests actively into new businesses, transfers knowledge and expertise to its units. The financial stability of TUI Russia & CIS is guaranteed by its shareholders' financial stability and its employees' high professionalism. For more information, please visit www.tui.ru.

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 employs over 9,800 IT professionals and serves clients worldwide utilizing its award-winning Central and Eastern European global delivery platform and its locations in 17 countries across 4 continents. In 2013, EPAM was ranked by Forbes as #6 among America's 25 Fastest-Growing Tech Companies and #2 on the list of America's Best Small Companies: 20 Fast-Growing Tech Stars. 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.

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