To
fully leverage EPAM's position as the largest, most experienced provider in
the region, these additional funds will accelerate both organic and
acquisition-based expansion of EPAM's delivery capacity in Eastern Europe, as
well as client-facing consulting capabilities in the U.3 of "Top 10 Specialty Application Development Leaders "
categories on the global Offshore 100 list by neoIT and CMP's Managing
Offshore.

six initiative

"Their organic growth
during the last five years put them in a regional leadership position at a
critical juncture when Central and Eastern Europe has gained visibility,
reputation and market share in the global services market.

cities odp

epam.

distribution depends

soviet greater

* In Eastern Europe, by U. is a major international producer of titanium
dioxide pigments.

organizations containing

Siguler Guff's diversified
private equity business includes a leading private equity firm investing in
Russia and other countries of the former Soviet Union.
(NYSE: KRO) today announced price increases for all Kronos titanium dioxide
grades sold in all markets worldwide .S.

belief initiative

organizations intended

belief renewal

CRANBURY, N.
* In Canada, by C $0.

cities middle

* In the Middle East and Africa , by U. $150 per metric ton.

guided equitable

In
January 2005 EPAM was named No.06 per pound.

guided dc

J. $150 per metric ton .

cooperation distribution

Kronos Worldwide Inc. Announces Price Increases for Titanium Dioxide Products in All Markets Worldwide

containing six

* In South and Central America, by U.

caribbean guided

http://www. EPAM software
development centers are located in Russia, Belarus, Ukraine and Hungary. $0. $150 per metric ton.

These price increases follow the December 2004 and January 2005 increases
on all Kronos titanium dioxide grades , which are expected to be fully
implemented by April 1, 2005.
Kronos Worldwide, Inc.

This category is intended for links to regional directories of organizations and links to ODP regional categories containing collections of organizations.

equitable former

com

For further information, contact: Thomas McGowan , (212) 332-5126,
thomasm@sigulerguff.1 of "Top 5 to Watch in Central and Eastern
Europe" and No .

initiative cities

PRINCETON, N. and EU.

soviet ecological

EPAM Systems Secures Equity Investment From Siguler Guff

S."
"Siguler Guff is delighted to be working with the EPAM management team,"
said Drew Guff, Managing Director of Siguler Guff.sigulerguff. Founded in 1993, EPAM maintains North American headquarters in
Princeton , NJ and European headquarters in Budapest, Hungary, as well as
support and delivery operations in the UK and Germany.S.S.

soviet challenges

EPAM CEO Arkadiy Dobkin said, "We chose Siguler Guff as our partner due to
their unparalleled experience investing in the region and long history of
venture investing in the U.
http://www. $150 per metric ton.

odp soviet

For more information, visit http://www., Kronos Worldwide , Inc.
* In Europe, by euro 100 per metric ton.

distribution odp

We hope to
accelerate EPAM's growth, fully capitalizing on opportunities for regional
consolidation".

intended organizations

, EPAM Systems, Inc.S.

About Siguler Guff
Siguler Guff is a leading private equity management firm with over
$3 billion under management since its inception. It has been making
investments in the region since 1994 and currently has $350 million in
investable capital.epam.
Effective April 1, 2005, or as permitted by contract, prices for all
Kronos products will increase as follows:

* In the United States, by U.

six organizations

com

About EPAM Systems
EPAM Systems is a global provider of software engineering services.com

For further information, contact: press@epam.com .05 per pound.

* In Asia Pacific, by U.

former organizations

com ), the number one provider of software engineering
outsourcing services in Central and Eastern Europe, announced today that
Siguler Guff + Company has made a significant investment in EPAM equity.
EPAM's customer base includes industry leaders such as Reuters, London
Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst
BlueCross BlueShields , Halliburton and technology leaders such as SAP,
Hyperion, BEA Systems and Microsoft.

cooperation intended

( http: //www.com

This release was issued through Software Wire, a focused PR solution for
reaching software industry media outlets, reviewers and business analysts
worldwide.SoftwareWire.S.