Constantia Privatbank Selects Calypso to Drive Capital Markets Expansion

• Front to back office trading and processing on multiple asset classes
• Utilizing Calypso Fast-Track for fast implementation
• Second Austrian client for Calypso

San Francisco, CA, November 21, 2007 – Calypso Technology Inc, a global application software provider of an integrated trading application suite to the capital markets industry, today announced that Constantia Privatbank, the leading and most successful independent private bank in Austria has selected Calypso’s cross-asset class platform for front, middle and back office.

As an upgrade from their existing in-house platform, Constantia Privatbank has adopted Calypso as a key component in their long-term strategy to expand their capital markets offering. The bank needed a platform that could meet their current demands for supporting and monitoring innovative treasury and derivative products, but also evolve along with the bank’s growing support for the capital markets. In addition to the comprehensive multi-asset and front to back functionality, Constantia Privatbank has adopted Calypso ERS (Enterprise Risk Service) for market risk and limits, and is also one of the first users of Calypso Fast-Track to facilitate rapid deployment.

Calypso was adopted following a comprehensive selection process, in which Constantia Privatbank reviewed a number of global and regional players, obtained feedback from other Calypso clients, and ran a test installation of the platform. Once chosen, installation of the platform was initiated at the bank’s headquarters in Vienna in a matter of hours.

“Implementing Calypso is a key component of our strategy to provide the best possible service to our discerning client base,” said Dr Karl Arco, Member of the Board, Constantia Privatbank. “We were particularly impressed with the flexibility of the platform, quick time to market and with Calypso Fast-Track, which included proven best-practice implementation methodologies as well as a pre-configured database. We needed a future-proof system that would evolve with our business and meets the requirements of the Austrian Legal Authorities. Calypso’s state-of-the-art, modern architecture met our needs.”

Charles Marston, Chairman and CEO of Calypso, said: “We are delighted that Constantia Privatbank has chosen Calypso as strategic platform for their capital markets expansion. The Germanic region is of growing importance to Calypso, and we continue to gain new clients as our local presence in the area becomes more established.”

Calypso Technology Launches Calypso Fast-Track to Streamline Implementation

• Pre-configured solution with production quality data
• Provides significant reduction in implementation risk
• Enables rapid knowledge transfer to client

San Francisco, November 19, 2007 – Calypso Technology Inc, a global application software provider of an integrated trading application suite to the capital markets industry, today announced the launch of Calypso Fast-Track, a groundbreaking new product designed to assist new and existing customers with their rapid deployment of the Calypso application. Calypso Fast-Track quickly familiarizes new users with the application in a simulated live environment, providing pre-configured data ‘out-of-the-box’ within Calypso’s front to back office application; including risk management, reporting and accounting.

Calypso Fast-Track covers the discovery, development, implementation and validation phases of projects. During a recent implementation, these phases of a Calypso front to back installation for interest rate derivatives, credit derivatives and FX were completed within just 100 workdays. Prior to Calypso Fast-Track, this would typically have taken up to nine months. Designed to reduce the risk of the implementation process, Calypso Fast-Track makes the process as seamless and transparent as possible.

As financial organizations face write-downs arising from the credit crunch, critical system replacement projects risk being delayed or put on hold due to the likelihood of unforeseen costs. These costs can often arise from expanding or inaccurate project scope, unplanned training requirements due to staffing changes mid-project, or a lack of supporting materials to aid implementation.

Calypso Fast-Track addresses these issues from the project kick-off, designed to ensure the scope is fully understood, providing static and reference data, best practice workflows and data interfaces to minimize configuration. Users have continued access to accelerated training programs in a live environment. The entire process is supported by complete and comprehensive documentation.

"Calypso and IBM have built a strategic alliance to assist Calypso users around the world achieve success in their implementations. IBM welcomes the launch of Calypso Fast-Track as a solution aimed at minimizing the inherent risk in system replacement projects – enabling Calypso customers to better realize the benefits of Calypso at an accelerated pace," states Sanny Makki, Partner – Financial Markets at IBM.

“Calypso Fast-Track is the culmination of several years of collective implementation experience from our professional services team, customers, engineering and implementation partners. The solution is unique in that it is an ‘open source’ configuration,” states Gerard Rafie, VP Marketing at Calypso. “This initiative, designed for a greater customer satisfaction, is a major priority for our company, supported by a dedicated team of engineers to process feedback from our customers and to ensure quality enhancements and continuous improvement.”

Calypso has also leveraged its relationship with Accenture for contributions to Calypso Fast-Track content and testing. Steve Scemama, Executive Partner at Accenture, says: “The Calypso software application generates considerable interest from customers based on its robust and flexible functionality that users can configure to match their specific requirements. This new Calypso Fast-Track offering will help facilitate and minimize implementation risk by providing ready to use configuration and documentation that aids knowledge transfer and the performance of gap analysis. The Calypso Fast-Track content will provide customers with the comfort of proven configuration used by industry leaders and peers.”

“We are delighted to launch Calypso Fast-Track,” commented Charles Marston, Chairman and CEO of Calypso Technology, Inc. “By developing Calypso Fast-Track we have revolutionized the Calypso implementation process. Combined with our effective training and interactive documentation, Calypso is a truly unique and powerful software solution for the capital markets.”