Calypso acquires Galapagos

• Evolutionary computing platform to bolster Calypso’s front office analytics and risk management offerings

San Francisco, CA, February 26, 2009 – Calypso Technology Inc, a leading global provider of an integrated trading application suite to the capital markets industry, today announced that it has acquired Codefarm’s portfolio construction and management platform known as Galapagos. The terms of the purchase transaction were not disclosed.

Charles Marston, Chairman and CEO, Calypso Technology said: “Galapagos is an excellent addition to the Calypso portfolio. There are clear synergies from this transaction, including an expected strong and seamless cultural fit among the staff, and a unique opportunity to leverage our combined talented resources to develop innovative solutions that relieve market pain – particularly in the areas of restructuring and capital efficient risk mitigation in the credit markets.”

Galapagos, which took approximately 50 man-years to develop, represents the successful application of the academic concept known as evolutionary or genetic algorithms to the intractable optimization problems inherent in the world of structured credit. It enables arrangers, managers, risk professionals and investors to explore the efficient frontier of risk and return. The service is in use in the front office of many of today’s leading financial institutions. Calypso Technology will now leverage Galapagos for its existing product and service offerings and continue to expand its application within the capital markets space.

Codefarm founder Jeremy Mabbitt assumes the role of VP of Technology for the new Galapagos business unit while John Mooren and Steve Gibson are appointed as General Manager and VP of Sales, respectively. The base for Galapagos research and development remains in Brighton, England. “We are very pleased to be joining forces with Calypso Technology. The firm has a solid understanding of the Galapagos offering and the marketplace. We are already expanding the Galapagos platform into new markets,” stated John Mooren.

Charles Marston added: “In our analysis of Galapagos, we concluded that the wide applicability of this unique technology made it an excellent fit with Calypso’s all-encompassing trading and risk management platform. We look forward to applying the evolutionary computing of Galapagos to its full potential – what better way for us to mark the bicentennial of Charles Darwin’s birth!”

Calyon Implements Calypso for Cash Management

• Prominent investment bank expands Calypso support across back office suite

San Francisco, February 17, 2009 – Calypso Technology, Inc, a global application software provider of an integrated trading application suite to the capital markets industry, announced today that Calyon, Credit Agricole group's (Euronext: ACA) corporate and investment banking arm, has implemented the Calypso system for cash management. This latest addition further enhances Calyon's usage of Calypso's Back Office solution.

With the adoption of the Calypso system for cash management, Calyon is able to subscribe to cash flow projections on an enterprise basis and monitor cash positions in real time, explain transfer histories, monitor and correctly modify positions when an amount received does not match specific projections. By leveraging the Calypso platform, Calyon will be able to address the firm's functional and compliance needs on a global scale. The Calypso cash management solution will manage cash flow projections coming from all Calypso and non-Calypso back office systems used by the bank.

Calypso has been one of the primary strategic back office system providers for Calyon since 2000 and is still today one of the main back office platforms of Calyon, the commercial and investment bank of Credit Agricole group. Today, the Calypso system is accessed by 200 users as a true multi-entity, multi-currency and multi-time zone platform spanning across sixteen Calyon financial centers including London, Tokyo, Mumbai, Hong Kong and South Africa as well as at the bank's headquarters in Paris.

Fréderic Coudreau, Global head of Capital market Operations of Calyon says, "We are pleased to expand our strategic partnership with Calypso Technology. The Calypso solution has enabled us to automate and consolidate back office operations on a global, enterprise wide basis for multiple treasury and forex assets. Calypso Technology's partnering approach has helped our firm remain ahead of the curve by evolving our technology to support our business needs and to achieve our goals."

Charles Marston, CEO of Calypso Technology, says, "Calyon has been a long-time client of ours and our expanding relationship with the firm is a testament to the strength of our back office solution suite. We hold this partnership in high regard and continue to remain dedicated to providing solutions which best fit Calyon's needs as they grow."

About Calyon
Calyon is the Corporate and Investment Banking arm of the Crédit Agricole Group.

With more than 13,000 employees in 57 countries, Calyon offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking and international private banking.

The Corporate and Investment Bank is structured around four major divisions: Corporate and Investment Banking, Equity Brokerage and Derivatives, Fixed Income Markets and Structured Finance.

Calypso Achieves Eighth Consecutive Year of Double Digit Growth

• More than 12 financial institutions go-live with Calypso in Q-4
• Firm continues global expansion with office opening in Copenhagen

San Francisco, February 11, 2009 – Calypso Technology Inc, a global application software provider of an integrated trading application suite to the capital markets industry, today announced that the firm achieved record growth in 2008. This is the eighth consecutive year of double‐digit growth for the firm, with more than 30% revenue increase over the same calendar year in 2007. Since 2002, the company has achieved 59% average annual revenue growth accompanied by consistently strong double‐digit margins.

Notably, the firm enjoyed a strong year‐end. In the fourth quarter alone, more than a dozen financial institutions across the EMEA, APAC, and Americas regions went live on the Calypso platform, either with new implementations or upgrades. These include:

• ASB Bank
• Calyon
• Fortis Bank
• Investec Bank
• nabCapital
• Nordea Bank
• Rabobank
• Rand Merchant Bank
• Standard Bank of South Africa
• Société Générale NY
• United Overseas Bank
• VTB Capital
• Westpac Banking Corporation

To reduce implementation time and cost, Calypso has continued its investment in Calypso Fast‐ Track. This market best practice implementation of Calypso with its related tools has reduced customer implementation times and serves as a valuable training tool. Another substantial benefit for customers has been the increased availability of Calypso integration professionals resulting from the firm’s emphasis on partnerships with leading consulting firms such as IBM, Accenture and Bearing Point.

New customers added in 2008 include Nordea, DeSari Capital, Marshall and Ilsley, VTB Capital and Pamplona Capital Management. Overall, Calypso added 15 new customers, and renewed and extended licenses with more than 20 existing customers. The strong customer commitment to the product was reinforced through record attendance levels at multiple customer events held in New York, San Francisco, London, Sydney and Tokyo.

Calypso continues to dedicate substantial resources to customer support initiatives and product innovation; to this end, headcount increased by 16%. The firm’s global expansion included the opening of its Copenhagen office, further establishing Calypso’s leadership in the Nordic region. The firm now has 11 offices around the world in key financial centers, including San Francisco, London, New York, Paris, Frankfurt, Tokyo, Sydney, Johannesburg, Singapore and Mumbai. In addition, special focus is being given to the Greater China region with the creation of a Hong Kong based sales presence in the latter half of the year.

Charles Marston, CEO of Calypso, says, “In what was a challenging year for the financial industry, Calypso was able to make 2008 yet another successful year for the firm. Important achievements included the launch of Calypso SaaS, the increasing success of the Calypso Fast-Track implementation tool, and our expanding buy‐side customer base. Our growth stems from our dedication to helping our customers succeed by providing them with an industry‐leading solution. We look forward to continued successful partnerships with our customers in 2009.”

“Current economic conditions aside, Calypso, with a diversified customer base and its strong balance sheet characterized by robust capital reserves and the absence of debt, is well positioned to continue its growth into 2010 and beyond. Moreover, its product suite is ideally suited to address the prevailing liquidity, risk management and technology consolidation issues facing the financial sector today,” states Frank Fanzilli, Jr., Calypso lead independent Board Director.