Calypso Names New Asia-Pacific GM

San Francisco, 15 October 2001 – Continuing its rapid expansion, Calypso Technology announced today that Arnie Papp has joined as General Manager for Asia-Pacific. The Calypso real-time trading and processing system has already attracted customers such as HSBC, Dresdner Bank, Crédit Agricole Indosuez, and Wachovia-First Union. Papp will build a team to support Calypso's growth in Asia-Pacific, starting in Sydney where the company has just established an office and hired local support staff.

"Banks and brokerages throughout Asia-Pacific need to respond to the global trends of deregulation, greater transparency and T+1 settlement. At the same time they also need to reduce their cost structure to remain profitable in a highly competitive environment," said Papp. "Calypso has a unique product and I am excited to take part in the company's global expansion. We have chosen to start in Australia because of the pent-up demand for our system there. We will also be opening an office in Tokyo shortly."

Papp joins Calypso from GlobalSight Corporation, an enterprise software company, where he was Vice-President of Sales. His knowledge of the Asia-Pacific financial markets comes from his experience as Asia-Pacific GM for Infinity Financial Technology. In that role, he set up and managed Infinity's regional operations. Based in Tokyo, he developed and executed a successful business strategy that enabled the company to become the market leader in the region. He has also previously worked for Fuji Bank and Prudential Securities in Tokyo.

"Our software is critical to our customers' business," said Charles Marston, CEO of Calypso. "We must be able to support them as well after their implementation as before. That means having local presence and knowledgeable people. Arnie's experience makes him uniquely qualified to grow our team and ensure our clients' success. He is an important addition to our senior management team. We are delighted that he has joined us."