Calypso Launches New Cash Management Module

• The new module is designed to allow clients to carry out cash management tasks on both internal (nostro) accounts and also client accounts

Sibos, Sydney, 10 October 2006 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced the launch of a new cash management module for internal and client accounts. The new module enables Calypso users to streamline their own accounts, as well as provide a value-added service to their clients.

The new module is designed to allow clients to carry out cash management tasks on both internal (nostro) accounts and also client accounts. The new module enables the monitoring of cash positions and the creation and sending of account statements according to a user’s definitions. Account sweeping can be executed manually or as a scheduled task, with transfers made automatically as required. Interest calculations, the ability to apply management fees to nostro and client accounts, as well as comprehensive reconciliation facilities including the generation of appropriate SWIFT messages, assists Calypso users in updating their own and their client’s accounts in a timely and accurate fashion.

Fully integrated with the Calypso cross-asset processing solution, the cash management module incorporates Calypso’s workflow capability to give users the option to automate each process as required.

Charles Marston, Chairman and CEO of Calypso Technology, Inc. commented: “Calypso’s back office functionality is broadly recognized as one of the true market leaders in terms of increasing processing efficiency and reducing the costs involved. The new cash management module is a compelling addition to our offering. It gives our customers the ability to meet the varied and specific requirements of their clients.”

Calypso Technology Expands in Asia

• Aaron Hallmark appointed Head of Professional Services in Singapore

Tokyo/Singapore/Sydney, 09 October 2006 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced that it has expanded its operations in Asia-Pacific in response to increasing demand for its software solutions within the region.

Aaron Hallmark has been appointed Head of Professional Services in Singapore, moving from Calypso’s New York operation to work with Singapore-based clients. August saw the opening of Calypso’s Mumbai office, headed by Manohar Uchil, for sales, support and development. Calypso opened an office in Singapore in 2005, and has had offices in Sydney since 2001 and Tokyo since 2002.

Calypso’s Asian clients include Mizuho, Sumitomo Trust & Banking (STB) and Pusan Bank, and during 2005, the company’s client numbers in the region doubled. Working with these clients has resulted in functionality being added to the system to handle some of the more specific requirements of banks in different Asian countries. For example, modifications were made to the accounting module to be compliant with Japanese GAAP and connectivity to MEPS+ has been added.

Charles Marston, Chairman and CEO of Calypso Technology, Inc. commented: “Asia Pacific is an important region for Calypso, as we are seeing increasing demand for sophisticated derivatives systems as well as Treasury software. Calypso provides a strong software solution for these areas, and our increasing client base is testament to this.”

Calypso Leaps Up the Inc 500 Ranking to #309 in 2006

San Francisco, 22 September 2006 –Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced that it has made a substantial leap up the Inc. 500 ranking of fastest-growing private companies in the US. Calypso Technology’s 2006 ranking at 309 is 131 places higher than the first appearance in the list in 2005, which positioned Calypso at 440. The Inc. 500 ranking is based on Calypso’s three-year sales growth rate of 439.7 % from 2003-2005.

“We are delighted by our upward progress and recognition in the Inc 500 ranking this year. We continue to successfully explore new markets and new opportunities, and that success is reflected in our favorable sales growth,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc.

Calypso Announces Opening of Mumbai Office

• Tenth office opened due to local demand and expansion plans

San Francisco, Mumbai, 14 September 2006 – Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced the opening of its Mumbai office, and the incorporation of its Indian subsidiary.

The Mumbai office will comprise individuals in sales and support roles, as well as developers who will complement the existing development teams in San Francisco, New York, Paris and London. Calypso has increased headcount globally in the last 12 months and, by opening an office in India, the company plans to continue to drive its hiring plan forward.

The new office is headed by Manohar Uchil, who joins Calypso from JPMorgan Chase, bringing over 20 years of financial markets experience. Mr. Uchil spent six years at JPMorgan where his roles included Chief Business Technologist – India for the investment banking division. Prior to JPMorgan, he also gained extensive capital markets IT experience from Citicorp Overseas Software Ltd and Tata Consultancy Services.

“In Mumbai, we have identified a pool of talented individuals in the field of financial software technology, as well as an appetite in the banks for capital markets trading including derivatives and structured products,” said Kishore Bopardikar, President of Calypso Technology, Inc. “This provides an excellent setting in which to grow Calypso and, with Manohar’s knowledge and experience, we expect to successfully recruit a great local team designed to enrich Calypso in several ways. Furthermore, we are excited about the opportunities presented to us in the Indian market and look forward to welcoming new clients in the region.”

The Mumbai office is the tenth Calypso office. Headquartered in San Francisco, Calypso Technology also has offices in New York, London, Paris, Frankfurt, Singapore, Sydney, Tokyo and Johannesburg. Calypso Technology will exhibit at the Risk India Congress taking place in Mumbai on 19-20 September.

Calypso Launches Calypso ERS

San Francisco, 31 July 2006 – Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced the launch of Calypso Enterprise Risk Service (ERS) which provides state-of-the-art risk management capabilities in a module designed specifically for risk controllers and managers.

Risk managers will be able to leverage this new module to monitor and oversee key risk exposures with measures such as Value-at-Risk, stress tests and risk factor sensitivities. Calypso ERS utilises a Service-Orientated-Architecture (SOA), distributes risk simulation analysis over a compute-grid and delivers results in a Web browser. This architecture is designed to meet the scalability, extensibility and deployment requirements that leading financial firms need to manage their business.

“The increasing complexity of financial instruments and phenomenal growth in markets such as credit derivatives have placed demands on existing risk management systems. This has made it harder for risk managers to get the visibility they need on enterprise risk exposure,” says Amir Khwaja, Director of Risk Management at Calypso Technology, Inc. “We believe that with Calypso ERS, we have a product offering that enables financial firms to meet the challenge of calculating, aggregating and disseminating key risk measures that are same-day not next day, utilising pricing models calibrated by the firm and covering the depth and breadth of trading activity.”

Calypso ERS is fully integrated with the rest of the Calypso suite of capital markets solutions and has the agility to grow in line with the demands of the market.

T-Zero Partners with Calypso Technology Bringing Greater Efficiency and STP to CDS Trading

London, New York and San Francisco, 24 May 2006 – T-Zero today announced a strategic partnership with Calypso Technology, Inc., the leading provider of capital markets trading software solutions for global financial institutions, which will support the development of an interface between Calypso and T-Zero. This partnership further assists Calypso’s clients in improving straight through processing (STP) of credit derivatives trades through T-Zero’s services.

Under the new partnership, Calypso’s front-office trade capture system provides seamless access to T-Zero’s Affirmation Service. T-Zero’s workflow and real-time messaging ensures that Calypso clients capture their credit derivative transactions with 100% accuracy. In addition, T-Zero’s “Agnostic Connectivity” allows Calypso clients to electronically connect to DTCC, GlobeOp and the T-Zero user base, which is growing daily.

Mark Beeston, president of T-Zero, indicated that all Calypso credit derivatives clients, which include both buy-side and sell-side organisations, can benefit from reductions in operational risk, human errors and operations costs through T-Zero.

Beeston pointed to statements made last week by former U.S. Federal Reserve Board Chairman Alan Greenspan indicating concerns that credit default swap transactions were still being captured on paper. According to reports, Greenspan called the backlog of unconfirmed trades “unconscionable” while also commenting that many trades “could be confirmed instantaneously” using available technology.

“Cairn welcomes the partnership between T-Zero and Calypso,” said Chris Bentley, infrastructure guru and Head of Operations at Cairn Capital, “We have worked closely with both parties to define a seamless, integrated trade capture and risk management infrastructure, moving towards timely trade data capture and matching. Innovations like this are vital steps in removing the current constraints on the CDS market and creating a volume insensitive environment – promoting growth and stability.”

“The credit derivatives market is continuing to develop its own unique infrastructure, of which T-Zero is an instrumental component,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc. “At Calypso, we strive to maintain our market-leading position in credit derivatives by working with companies like T-Zero, which we believe brings a valuable proposition to the market. We are delighted to be the first front-to- back solution provider to take this strategic step.”

“It is our goal to continue to work toward resolving the multiple operational issues affecting the markets to help ensure future growth in the industry,” said Beeston. “We are delighted to be partnering with Calypso in working towards this goal. Calypso software is used by numerous dealers, hedge funds and asset managers and this partnership significantly facilitates the adoption of T-Zero by those institutions.”

T-Zero’s approach to electronic connectivity and messaging directly addresses the major inefficiencies in post-trade derivative processing highlighted by the New York Federal Reserve and the FSA. T-Zero’s post-trade messaging and workflow system has been adopted by numerous dealers and trading platforms.

About T-Zero
T-Zero’s approach to electronic connectivity and messaging directly addresses the major inefficiencies in post-trade derivative processing highlighted by the New York Federal Reserve, the FSA and other regulators over the past year. Since being launched in August 2005, T-Zero’s post-trade messaging and workflow system has been adopted by numerous dealers and trading platform offering a uniquely flexible solution for the global credit derivatives market. The T-Zero platform enables communication and electronic affirmation of credit derivative trades on trade date, greatly reducing operational and settlement risks. A truly open communications platform, T-Zero connects market participants including major credit derivatives dealers, hedge funds, asset managers, prime brokers, fund administrators and documentation execution providers. Visit www.tzero.com for more information.

Banco Espírito Santo Selects Calypso

San Francisco, 15 May 2006 – Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced that Banco Espírito Santo, SA, a leading Portuguese commercial bank, has selected Calypso as its cross-asset back office solution for Treasury and Capital Markets. Calypso will be deployed across subsidiaries.
Calypso was selected on the strength of its complete cross-asset coverage which provided the best fit for its business. This is coupled with Calypso’s proven implementation track record and strong list of reference clients. Banco Espírito Santo needed to replace outdated legacy systems and considered several vendor solutions.

Mr. Pedro Cruchinho, a Senior VP at Banco Espírito Santo, commented: “We conducted a thorough review of several systems for our Treasury and Capital Markets department. Calypso stood out as the solution that could handle every instrument we traded – it is truly a cross-asset system.”

“The project with Banco Espírito Santo represents our first step into the Portuguese market, while expanding our Southern European client base. This is a very exciting growth phase for Calypso and we are delighted that Banco Espírito Santo is part of the success story,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc.

About Banco Espírito Santo
Banco Espírito Santo (www.bes.pt), founded in 1920, is the third biggest financial institution operating in Portugal in total assets, with an average market share of 17.7% (end 2004) on the major business lines and with a total number of customers over 1.6 millions. Having an ancient tradition on innovation and a customer centric approach, its domestic branches network cover Portugal with almost 600 retail branches and at an international level it is present in 17 different countries through Branches, Representative Offices and Subsidiaries.

BES operates as a universal bank on a multi-channel distribution strategy and based on well defined customer segmentation, focusing on optimizing customer value.

Group BES has a clear and focused strategy: it aims to be the leading multi specialist financial group in Portugal, in which concerns innovation, customer service, profitability and efficiency.

Sumitomo Trust & Banking Goes Live with Calypso Interest Rate and FX Derivatives System

Tokyo, 20 February 2006 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced that Sumitomo Trust & Banking (STB) has gone live with Calypso's innovative interest rate and foreign exchange derivatives software solutions.

STB had been looking for a platform upon which they could grow their Treasury business, while also providing enhanced customer service and improving operational efficiency. The bank selected Calypso as it provides a single platform which supports the broad range of financial instruments that STB trades. In addition, the Calypso solution provides STB with the option to further expand its range of products and services for clients in the future.

“We selected Calypso because we felt that it was a strategic technology solution that would allow us to decrease the time taken to develop new products and release them to clients. We have worked in partnership with Calypso, along with Mitsui Knowledge Industry, to develop a solution that meets our needs in the Japanese market and can be implemented to fully meet the requirements of customers' platforms,” said the Deputy General Manager, Market Making Department at Sumitomo Trust & Banking.

In the first stage of the project, STB was able to move its important FX business onto Calypso. Following that highly successful launch, interest rate and FX derivatives have now been added. This means STB will be able to perform cross product risk analysis and carry out all trading and associated hedging activities on a single, integrated solution.

“In addition to the foreign exchange system already in service, we now have an integrated solution for combined risk, one of the greatest strengths of the Calypso solution. We are looking forward to making full use of its features,” Sumitomo's Deputy General Manager said.

“We are delighted to have played an instrumental role in STB achieving their business objectives. Rolling out a single solution to cover trading and processing of multiple products is the proven way to reduce total cost of ownership. STB's decision to deploy Calypso as that single solution is testament to our strength in that area,” commented Charles Marston, Chairman and CEO of Calypso Technology, Inc. “Working with STB has given us further valuable insight into the Japanese financial marketplace and enabled us to ensure that our solutions meet the unique requirements of the region.”

About Sumitomo Trust & Banking
For further information, please visit http://www.sumitomotrust.co.jp/

Calypso Launches V8

San Francisco, 06 February 2006 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced that it has released Calypso V8 with its increased pre-configuration capabilities. These software enhancements are combined with several new implementation initiatives to provide complete prepackaged solutions which are asset class specific as well as cross-asset.

Calypso V8 combines the functionality developed for large global financial institutions like HSBC, Bear Stearns, and Citigroup with expertise gained from numerous successful implementations to create complete end-to-end software solutions for each capital markets business area. It covers a variety of enhancements and services, including:

• Market interfaces available 'out of the box', including SwapsWire, DTCC and T-Zero
• Preconfigured trade workflow, reports, accounting rules and confirmations for back office users
• Interfaces to technology infrastructure partners, including DataSynapse and VERITAS
• CalypsoML enhancements to assist with data migration and interfacing
• Calypso University offering a range of training courses including asset class specific and certification training
• Development of packaged implementations in partnership with select partner firms.

These standardized offerings combine the best of breed functionality used at top tier firms with tools to simplify the implementation process and are designed to enable Calypso users to have the ability to accurately define their project requirements and plan the total implementation accordingly leading to lowering the customer's total cost of ownership.

“Our involvement in a range of projects at financial organizations both large and small has taught us the most efficient way to get our customers into production. We are keen to share this knowledge in order to provide our customers with the ability to quantify their projects towards their successful completion,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc. “By packaging our software solutions in this way, customers can choose to leverage the experience the Calypso team has acquired or to maximize the extensibility of the Calypso software by customizing it to the users needs.”

Calypso V8 also introduces major enhancements in the commodities module and expands the structuring of exotic hybrid products through eXSP™ for all asset classes.