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.