Calypso expands into the Nordic Market

• Creates new subsidiary company and opens new office in Copenhagen, Denmark
• Growth in region facilitated by interest in Calypso Fast-Track

Stockholm, June 11, 2008 – Calypso Technology Inc, a global provider of an integrated trading application suite to the capital markets industry, today announced that it continues to strengthen and build on its success in the Nordic market by opening an office in Copenhagen, Denmark.

“We are committed to offering Calypso to the Nordic market and our dedication has resulted in continuous success in the region. The time is right to invest further in the Nordic area by having a local subsidiary and office to better support our five clients across the Nordic countries,” comments Charles Marston, CEO and founder of Calypso Technology. The first Calypso Nordic client was signed in 2007. Additional clients quickly followed suit, several of which have already gone live with the Calypso system.

Mikael Lindh, Sales Manager Nordic Markets for Calypso Technology, adds: “With ten years of development invested in the Calypso application, we are well positioned to serve the diverse trading and risk management requirements of the Nordic capital markets. The system’s flexibility caters for large financial institutions trading flow products as well as sophisticated niche players within the investment management and hedge fund sector that typically trade on offering a bespoke customer service. The market is showing a strong interest in structured products linked to new innovative indexes. Risk diversification among investors is one important driver behind this trend.”

Entry in the Nordic region was also facilitated by the launch of Calypso Fast-Track, a software product designed to shorten the time to market by offering new clients a pre-configured, ‘out-of-the-box’ front-to-back office application. By providing market-tested, industry standard configuration, tools and documentation, Calypso Fast-Track enables clients to focus on defining specific regional requirements, thus reducing overall implementation time.

The Calypso Fast-Track product is particularly attractive to organizations that do not have a large IT department. “Clients can take advantage of Calypso’s best practice expertise built up in collaboration with its customers. Its pre-configured plug and play characteristic is very attractive to smaller Nordic niche players that wish to see a quick ROI,” states Lindh.

Calypso has also strengthened its capabilities in the region with local implementation partners which have undergone Calypso’s partner training program. This ensures that the partner can provide qualified personnel who are fully trained on the Calypso application. “Working with partners ensures that we can combine the Calypso skill set with in-depth local market knowledge to respond efficiently to market-specific requirements”, comments Gerard Rafie, Vice President Marketing at Calypso Technology.

New Products and Customer Satisfaction Initiatives Launched at Calypso 2008 Customer Conference

• Calypso V10 release highlighted and new account management group announced

San Francisco, CA, June 04, 2008 – Calypso Technology Inc, a leading global provider of an integrated trading application suite to the capital markets industry, unveiled its Calypso V10 product release and announced the launch of Calypso Account Management Services at its 2008 Customer Conference, held April 2008 in San Francisco, California.

Through the Account Management Services group, clients will benefit from a single dedicated Calypso point of contact. The account managers will coordinate all Calypso’s resources on behalf of clients, including access to product management, training, technology infrastructure, and the executive team. In addition, account managers will hold regular meetings with clients to communicate new developments and to facilitate their optimized Calypso product usage.

More than half of the sessions of this annual event were customer forums designed to foster open communication among the various customers on a variety of business and technical topics. In addition, Calypso product managers and engineers presented new functionality in the V10 release and product roadmaps. The new version, Version 10 incorporates significant enrichment of front office tools for structuring products and managing real-time intraday risk and P&L analysis; more robust risk management capabilities on a desk and enterprise level; and new capabilities to the Calypso Fast-Track product, shortening time-to-value during implementations.

“Calypso continues to build out a culture of customer service. Our customers are our trusted business partners who help evolve and shape the Calypso offering,” says Charles Marston, CEO and Founder of Calypso. “Transparent two-way communication is of the utmost importance to us.”

Supporting the themes of transparency and communication, this year’s Customer Conference opened the conference program to third party speakers who are essential to the Calypso ecosystem. These included speakers from the Aite Group, IBM and the TowerGroup. Presentations were also undertaken by customers, senior Calypso product managers and the management team. Calypso welcomed more than 200 attendees, representing 35 firms registered from the United States, Europe, Africa, Australia and Asia.

“The mission of the Account Management Services Group is to provide ongoing consulting and continually aligning client goals and objectives with the Calypso strategy,” says Marston. “We are excited to now formalize and highlight what we have always considered to be a primary focus for us – high-quality customer service and the culture built around it in everything we do.”

Calypso Unveils Version 10 of its Trading and Risk Management Platform

• Enhancements throughout Calypso’s Application Suite Support Capital Markets Innovation

San Francisco, April 16, 2008 – Calypso Technology Inc, today announced its annual major version release of the Calypso integrated trading application suite to the capital markets industry. The new version, Version 10 incorporates significant enrichment of front office tools for structuring products and managing real-time intraday risk and P&L analysis; more robust risk management capabilities on a desk and enterprise level; and new capabilities to the Calypso Fast-Track product, shortening time-to-value during implementations.

“Today, financial services firms are struggling with processing backlogs created by the growing volume of increasingly complex products including treasuries and derivatives. In addition, continued manual processing is slowing innovation and creating additional costs and errors,” states Stephen Bruel, Analyst at TowerGroup.

Charles Marston, CEO of Calypso, states, “Version 10 is designed to enable Calypso users to successfully manage current market challenges and innovate to stay competitive. Additionally, clients can implement Calypso’s solutions faster than ever as we continue to build upon our Calypso Fast-Track solution with additional pre-configured environments for multiple asset classes.

New capabilities for Version 10 include:

• Enhanced, real-time intraday risk and P&L analysis - users can add their own analysis that traders configure "on the fly" - including reference entity, counterparty, strategy, sector and region - improving visibility and providing actionable information on a global, cross-asset basis. Traders can view winners and losers by strategy, reference entity and other user-defined criteria using the Calypso Workstation.
• Significantly enhanced front-office capabilities – V10 includes a variety of enhancements to help traders innovate further while improving risk management, compliance and productivity. New functionality includes a structured products packaging application, dynamic calibration, HyperSurfaces to model multidimensional market data, additional 3D graphics for modeling, and a configurable Trader Workstation. Additional product coverage includes expanded support for inflation products, repurchase agreements and several other products.
• Market risk and capital analysis – provides risk managers with greater transparency and drill-down capabilities on Value-at-Risk and stress tests with the ability to view Market Risk Capital requirements over time for any organization or business unit.
• Enhancements to streamline implementation – including more market data, currencies, countries, workflows and expanded configuration data in Calypso Fast-Track, plus new data and application migration tools.

Calypso V10 also builds on the industry-leading back office processing capabilities with enhanced cash management, a new securities financing front end application and additional interfaces to third-party payment and clearing services.

In 1998, Calypso introduced the first integrated trading software application suite designed with true front-to-back office functionality as well as cross-asset trading capabilities from the outset. Capital markets firms, including global banks, regional banks, asset managers, hedge funds and other trading institutions have increasingly adopted Calypso’s platform and help inform the direction of the new versions.

“Our clients worldwide continue to need more sophisticated trading systems in order to innovate and leverage market opportunities generated by new products,” said Marston. “Calypso’s Java-based architecture allows us to quickly introduce enhancements required by rapidly changing markets,” he continued. The Calypso software platform, originally developed over a decade ago, continues to evolve with changing market conditions and has undergone nine major releases since its inception.

Emirates NBD Selects Calypso

San Francisco, CA, February 11, 2008 – Calypso Technology Inc, a global provider of an integrated trading application suite to the capital markets industry, today announced that Emirates NBD, the largest bank in the GCC (Gulf Cooperation Council) in terms of assets has selected Calypso software as its cross-asset, front-to-back solution for trading credit, equity, interest rate, and FX derivatives as well as FX, money market, and fixed income.

With the credit markets expanding rapidly in the Middle East, Emirates NBD was seeking a comprehensive cross-asset system with strong derivatives support to meet increasing client demand. After evaluating a number of systems, Emirates NBD selected Calypso Technology not only for the strength of its software platform, but also for its partnership approach.

Emirates NBD will benefit from a consolidated view of profit and loss and risk across asset classes, the ability to trade new complex structured products, and the reduction of operational risk as well as costs. Emirates NBD will be implementing the Calypso software platform to its locations within Dubai and other regional and international markets.

“In light of the increasing demand for structured products over the past year, and in line with our commitment to adopt best international practices in the banking industry, Emirates NBD has selected Calypso Technology as our business partner to provide us with a comprehensive cross-asset system. We are confident our relationship with Calypso will bring benefits to our clients, employees and shareholders”, said Abdullah Qassem, General Manager Information Technology and Operations at Emirates NBD.

“Emirates NBD is a leading bank in the Middle East and we are delighted to be helping them grow their capabilities and reach,” said Charles Marston, CEO of Calypso Technology. “Our work and relationship with Emirates NBD is demonstrative of our commitment to providing financial institutions with an innovative solution that addresses all their trading requirements, particularly in this constantly evolving market.”

Calypso Ranked as Top Solution for Credit Derivatives Second Year in a Row

• Calypso voted the #1 position in credit trading in 2007 Technology Rankings by Risk Magazine readers
• Calypso ranked in top 3 across 8 categories, including structured products, cross-asset, rates and commodities trading systems

San Francisco, January 9, 2008 – Calypso Technology Inc, a global provider of an integrated trading application suite to the capital markets industry, today announced that Calypso was voted the top trading system for credit in Risk Magazine’s 2007 Technology Rankings for the second consecutive year.

Calypso’s continued leadership in credit derivatives trading, valuation and execution as well as its growing client base enabled the top ranking for credit. The rankings are based on a poll of industry participants around the world, including banks, hedge funds, pension firms, insurance companies, and corporate treasuries. Respondents were asked to vote for technology vendors that provide the best product offering based on functionality, usability, performance, return on investment, and reliability. Calypso was also ranked in the top three across the following categories:

• Commodities trading system
• Credit trading system
• Cross-asset trading system
• Rates trading system
• Structured Products trading system
• Cross-asset analytics
• Credit analytics
• IAS39 system

Charles Marston, CEO of Calypso, comments, “We are continuing to innovate on behalf of our clients and we are pleased that our dedication to this market has been recognized by Risk Magazine again this year. The success of Calypso’s solution drove substantial growth in 2007 and we are looking forward to greater progress next year.”

Calypso Wins Financial-i Leaders in Innovation Award for 2nd Year Running

• Wins 'derivatives processing' category

San Francisco, December 18, 2007 – Calypso Technology Inc, a global application software provider of an integrated trading application suite to the capital markets industry, is pleased to announce that it has won the ‘derivatives processing’ category of the 2007 Financial-i Leaders in Innovation awards. This is the 2nd consecutive year that Calypso has won the award.

Companies were initially chosen by Financial-i’s team of journalists and a number of analyst firms. The winners were then selected from the short-listed companies by an advisory panel comprising industry analysts and thought leaders. Key criteria in judging the awards were demonstrated innovation in the last year to solve a business challenge leading to a positive improvement for customers.

“Essentially what we were looking for are companies that have demonstrated over the last 12 months their ability to innovate, whether it is in terms of business strategy or the development of wholesale transaction banking solutions, and for that innovation to have significantly impacted customers in terms of their ability to deploy business solutions cost effectively, more readily interact and integrate them with other applications, and the ability to use these solutions to solve business specific issues or concerns,” said Anita Hawser, editor of Financial-i.

“Our philosophy has always been to innovate and fill the gaps in the market, so we are proud to have been recognized yet again with this award. We didn’t rest on our laurels after winning last year and have maintained our drive for continuous innovation,” said Charles Marston, CEO of Calypso. “We are committed to providing advanced solutions that help customers innovate faster, improve productivity and achieve faster time to value. With the recent launch of our groundbreaking Fast-Track implementation product, next year looks set to be a very exciting time for us.”

Natixis Live with Calypso

• Back office processing for credit derivatives
• Handles threefold increase in volumes requiring no additional headcount

San Francisco, December 5, 2007 – Calypso Technology Inc, a global application software provider of an integrated trading application suite to the capital markets industry, today announced that Natixis is in production with Calypso Credit Derivatives for back office processing.

Following a rigorous consultation period in which a number of solutions were considered, Natixis chose Calypso in order to automate and grow their credit business. Since installing Calypso, Natixis has increased its volumes by 300% without the need to increase headcount.

“We were looking for a system to manage one of the fastest growing markets of our business, with specific functionality to quickly bring new products to market. Calypso met and surpassed these requirements,” commented Christophe Guy, head of back office at Natixis. “The fact that we’ve been able to increase our capacity threefold without any additional staff is a significant efficiency gain for us and we anticipate further gains in the months ahead in support of our rapidly growing business.”

Natixis leverages the seamless straight-through processing architecture of the Calypso application to drive processing of a wide range of credit trades, ranging from vanilla credit default swaps to second generation synthetic products. Within the Calypso system, once a trade has been captured, the back office engine automatically manages all post-trade processes from reporting to accounting in accordance with the company’s business workflow. Instrumental to the project was the interface to the DTCC for confirmation matching and payment of credit derivative contracts. The efficiency in operations has enabled the company to significantly increase its business revenue opportunities.

“Natixis is a major player in the European banking industry, and we are pleased to see the bank achieve business growth after implementing Calypso as strategic solution for expanding and automating its credit business,” concluded Charles Marston, CEO of Calypso.

About Calypso Technology, Inc.
Calypso Technology, Inc is a global application software provider that delivers an integrated suite of trading applications to the capital markets industry. Over 80 customers, including seven of the top ten banks, use the Calypso Trading and Risk Management Platform – the first integrated application suite for derivative and treasury products.
Calypso is a registered trademark of Calypso Technology, Inc in the United States, the European Union and other jurisdictions.

About Natixis
With 23,000 employees in 68 countries, Natixis is the banking partner of businesses and institutions, and offers the five key services of corporate and investment banking, asset management, private equity and private banking, services and receivables management.

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.”

Calypso Ranked as Leading Solution in Asia Risk Technology Survey

• Calypso named #1 trading system for credit

San Francisco, October 31, 2007 – Calypso Technology Inc, a leading provider of capital markets trading software solutions, today announced that its cross-asset, front-to-back solution ranked highly in Asia Risk’s 2007 second annual technology vendor rankings.

Calypso was named the #1 trading system for credit and the fourth overall top vendor. In addition, Calypso ranked highly in a number of other categories, including:

• Pricing and risk analytics for credit, cross-asset, and structured products
• Limit checking
• Collateral management
• Trading systems for commodities, credit, cross-asset, foreign exchange, interest rates and structured products

The rankings are based on a survey of technology users in Asia. Respondents were asked to nominate solutions based on functionality, usability, performance, return on investment and reliability. Calypso’s diverse capabilities, strength in credit and growing client base in Asia enabled the high placements in each category.

“We are delighted that our commitment to providing a leading solution to our clients has been acknowledged by Asia Risk in this way,” commented Charles Marston, Chairman and CEO of Calypso Technology, Inc. “Calypso is committed to fully supporting this market as it continues to grow. As expansion in the region persists, the key financial players will continue to require comprehensive and scalable technology.”

“We would like to thank our clients for nominating us and for making us one of the foremost providers of cross-asset trading technology today,” added Mr. Marston. ”We look forward to continued growth in the future, both globally and in Asia.”

The Master Trust Bank of Japan goes live on Calypso for derivatives processing

San Francisco, August 06, 2007 – Calypso Technology, Inc., the leading provider of capital markets trading software solutions for global financial institutions, today announced that The Master Trust Bank of Japan, Ltd (MTBJ) is live on Calypso for derivatives back office processing.

The implementation forms part of MTBJ’s initiative to provide high quality sophisticated products, which will enable the bank to achieve its goal of becoming the leading global custodian bank; while also providing the highest standard asset management services.

Pension funds are increasingly investing in derivative products such as interest rate swaps. In addition, available products for making investment decisions in the investment advisory industry will expand after the new Securities Exchange Act, which will be enforced this year. Under the current investment advisory law derivative trades are limited to negotiable securities only, but under the new act this will include credit derivatives. Therefore, MTBJ expects to see further increase in the need for OTC derivative trades such as credit derivatives, interest rate swaps etc, resulting in the need for supporting technology.

In order to comply with the new environment and rapidly evolving market, MTBJ will completely systemize all of its asset management operations relating to derivatives, allowing for high volume processing of derivative transactions. Calypso is an integrated cross-asset software system designed for trading, risk management and processing, combined with high flexibility and extensibility. Specific enhancements have been made to the system to support the Japanese market.

MTBJ will utilize the back-office functions of Calypso’s derivatives solution for asset management. By implementing Calypso, the cash flow calculation, schedule management, market valuation associated with trading OTC derivative products will be possible. Efficient processing and detailed management of high volume derivative transactions, which historically have been difficult to handle, will now be simplified.

In the initial period of the operation, target products are limited to domestic and international interest rate swaps, currency swaps, domestic credit default swaps, total return swaps, swaption, cap and floor with the possibility of expanding coverage in the future.

About Master Trust
The Master Trust Bank of Japan, Ltd is a specialized master trust asset management bank with the managed assets reaching 125 trillion yen as of the end of June 2005. MTBJ is majority-owned by Mitsubishi UFJ Trust and Banking Corporation. http://www.mastertrust.co.jp/

Landesbank Baden-Württemberg Selects Calypso

• Calypso chosen as strategic trading platform for their growing Financial Markets Division

San Francisco, July 16, 2007 – Calypso Technology, Inc., (Calypso) a leading provider of capital markets trading software solutions, today announced that Landesbank Baden-Württemberg (LBBW), the leading financial services provider in southwestern Germany with significant retail, corporate and financial market clients worldwide, has selected Calypso’s platform for trading interest rate derivatives, credit derivatives, risk analysis and back-office processing.

The Financial Markets Division of LBBW provides banks, corporate and institutional clients with sophisticated capital market funding and risk management solutions, including numerous instruments and solutions for hedging interest rate and credit risks. As part of LBBW’s corporate strategy, the company is making a targeted effort to grow its capital markets business through the development of structured products as well as the corporate derivatives business.

“In 2006, existing customers grew their usage of these complex derivative products, and we grew our customer base within and outside of Germany,” said Ralf Winkelmann, Head of Capital Markets for LBBW. “We needed new systems that could process these complex products, while allowing us to innovate by quickly adding support for new trading instruments as the markets evolve.”

“Financial markets are growing more complex every day,” said Charles Marston, CEO of Calypso Technology, Inc., “Our vision to provide an integrated product that addresses all asset classes with front-to-back-office functions makes it possible for innovative financial services providers to serve their clients in new ways.”

About Landesbank Baden-Württemberg (LBBW)
With EUR 428.3billion in assets at the end of December, the bank ranks among the largest in Germany. LBBW is the central banker for the savings banks in Baden-Württemberg and by incorporating Landesbank Rhineland-Palatinate, (a EUR 67.7 billion institution) the bank has enlarged its geographic area. Since August 2005 LBBW has also strengthened its position in its core market through the integration of BW-Bank, a EUR 20 billion bank that catered to high net worth individuals.

Calypso Unveils Version 9.0; Extends Leadership Position in Capital Markets Software

• Infrastructure enhancements build on technical superiority
• Further broadens product coverage

San Francisco, May 14, 2007 - Calypso Technology, Inc., (Calypso) a leading provider of capital markets trading software solutions today unveiled Version 9.0 of the Calypso suite of solutions. Enhancements in all solution areas build upon Calypso’s innovations in trading, risk management and processing for derivatives, treasury and securities.

Calypso Version 9.0 includes several new innovations that distinguish Calypso from other providers in the capital markets space. These include:

• Calypso eXSP now enables clients to configure Instrument Masters for exotic structures without any coding. Embedded in each Instrument Master is its generic calculation rules and trade entry panel, so that at time of trade, the trader just needs to select the best-fit Master, modify to match unique specifics such as indexes or spreads, and then book the trade. The new structure is fully and instantly incorporated within Calypso as a standard trade. Calypso eXSP provides unrivalled product coverage while enabling clients to control when and where to bring new products to market.
  
• Calypso ERS (Enterprise Risk Service) now includes a complete real-time limits solution. Built upon the state-of-the-art web-based infrastructure of ERS, the limits module enables enterprise-wide monitoring of settlement, exposure and issuer limits.
  
• The Calypso Credit Derivatives solution now includes a unique CDO structuring & analysis tool that enables the creation of a bespoke portfolio, pricing of the complete capital structure, enables substitutions and manages the trades affected by substitutions. Markit certification guarantees the quality of integration work for their data. In addition, credit contingency features have now been added to all OTC products.
  
• Calypso’s underlying infrastructure has also been modified to ensure it remains at the cutting edge of software development. The use of clustering for data servers ensures maximum availability of the solutions, and the Calypso database schema is now defined in XML to simplify the upgrade process. Additions of new server-side components thin the Calypso client applications further.
  
• The new Calypso Asset Management Module adds functionality meeting the specific requirements of asset managers to the leading sell-side capital markets solutions. The module enables fund and strategy configuration and associations, the ability to trade funds, position configuration and look-through analysis.

“Our highly-skilled engineering team has excelled in enhancing the Calypso functionality and infrastructure with Calypso Version 9.0”, said Charles Marston, CEO of Calypso Technology, Inc. “We have made several of the enhancements in conjunction with various clients’ input and the market feedback to Calypso Version 9.0 has been extremely positive to date. The innovations demonstrate that Calypso is still the next generation provider for capital markets trading.”

Calypso named by Markit as First Certified Partner for Trading and Processing Solutions

San Francisco, March 26, 2007 – Calypso Technology, Inc., a leading provider of capital markets trading software solutions, today announced that it has received Certified Alliance Partner status under Markit’s certification program which was launched in January, 2007. Calypso is the first provider of trading and trade processing solutions to successfully complete the certification program.

In order to receive certification, Calypso’s product management team for credit derivatives had to demonstrate that the completed integration of CDS, CDS Indices, RED and Tranche data met the integration standards defined by Markit. The certification means that joint customers of Calypso and Markit can be assured of a high quality of integration. The combination of Calypso’s best of breed front-to-back solution for credit derivatives and Markit’s leading independent credit data creates an unrivalled value proposition for any organisation trading these products.

“Calypso has invested in an ongoing partnership with Markit for several years – we were the first vendor to integrate RED in 2004 and have expanded the integration of Markit data throughout our credit derivatives solution”, said Charles Marston, CEO of Calypso Technology, Inc. “Beyond the certification, we continue to look at new ways to interface to Markit’s offerings. For example, through our project to integrate Markit’s Reference Cashflow Database for clients using Calypso to trade CDS on ABS.”

“We are delighted to recognize Calypso as the first trading and processing solution provider among our alliance partners to receive formal certification. Calypso has proven the quality of its integration work, a process that was accelerated by the strength of the partnership between the two firms and the technical skills of individuals on both sides,” said Nicola von Schroeter, Global Head of the Markit Alliance Program.

About Markit
Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 75 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.

Markit’s position in the derivatives markets has been acknowledged by the industry with numerous awards. In 2006, the company won Operations Management’s Vendor of the Year award (Trade Processing); Financial News’ Best Derivatives Data Solution and Best New Vendor Solution (Portfolio Valuations); Credit’s Best Operational Support Services Provider; Inside Market Data’s Reference Data Provider of the Year, and Company to Watch; Risk’s Trading Initiative of the Year (Credit Event Fixings); and Structured Finance International’s Editor’s Award for Advancing Structured Finance. In 2005, Markit received International Securitisation Report’s Editor’s Award for Innovation; International Financing Review’s Innovation of the Year (Credit Event Fixings); Financial News’ Best Derivatives Data Provider; and Operations Management’s Vendor of the Year award.
For more information, see http://www.markit.com/

Erste Bank selects Calypso as strategic derivatives platform

San Francisco, March 12, 2007 – Calypso Technology, Inc., (Calypso) a leading provider of capital markets trading software solutions today announced that Erste Bank Group, Central and Eastern Europe’s Leading Financial Services Company, has selected Calypso as its front to back, group-wide solution for interest rate, FX and credit derivatives.

Erste Bank was looking for a solution which could handle the more exotic interest rate products it offers clients, and also had key strengths in credit derivatives and FX options. The bank was impressed by Calypso’s comprehensive functionality and ability to handle a broad range of derivative products. One of the key drivers behind Erste Bank’s decision to choose Calypso was the flexibility of the application, which means the Bank can add new structures and hybrid products with specific payouts when needed.

“We felt it was time to move to a system that would provide us with a simplified way to trade the exotic products we are using. The strength of integration in Calypso’s front to back system is extremely important to us; we expect to see significant benefits through managing cross-asset risk and improving STP for flow and structured derivatives”, commented Herbert Juranek, Head of Group IT of Erste Bank. “Our decision to use Calypso is based on its ability to support our business now as well as a strategic approach to expanding our derivatives activity in the future. We will be leveraging Calypso's highly extendable platform to gain competitive advantages.”

“Derivatives trading and processing are key areas of strength for Calypso, and we welcome the opportunity to become a strategic partner for Erste Bank and look forward to supporting their business development plans”, said Charles Marston, CEO of Calypso Technology, Inc. “Erste Bank’s selection of Calypso is another step in the substantial increase in our German, Austrian and also Central and Eastern Europe client base; and we have expanded our presence in Germany significantly to meet this demand.”

About Erste Bank
Erste Bank, founded in 1819, was the first savings bank in Austria. Today it represents one of the largest financial services providers in Central and Eastern Europe, where Erste Bank has so far acquired more than 10 banks (in Slovakia, Czech Republic, Hungary, Croatia, Serbia, Romania and Ukraine). Almost 50.000 employees serve almost 16 million clients in more then 2.700 branches. 13 out of its 16 million clients live in Central and Eastern Europe. Erste Bank’s business focus is directed at the retail market as well as small and medium-sized enterprises. It offers a broad range of services comprising consumer finance and mortgages, savings and wealth management products as well as SME finance and corporate banking.

Calypso Celebrates 6th Consecutive Year of Double Digit Growth

• Product innovation and commitment to technology excellence drive client growth
• Achievements recognized by Risk Magazine, Financial-i, and Inc. 500 awards

San Francisco, March 1, 2007 - Calypso Technology Inc. (Calypso) the leading provider of capital markets trading software solutions for global financial institutions, today announced that 2006 was its sixth consecutive year of double-digit revenue and client growth.

The new client signings include global and regional banks, hedge funds and asset managers. Building on its 2005 landmark gains, Calypso experienced almost 25% increase in new clients in the Americas and a 40% gain in Europe, while client numbers more than doubled in Asia. Both new and existing clients expressed strong interest across all products with front-to-back solutions for derivatives trading, enhanced structuring capabilities, as well as treasury processing exhibiting the greatest demand.

"These results demonstrate Calypso's persistent investment in research and advanced technology, which has enabled us to deliver products and services that help clients excel in a demanding marketplace," stated Charles Marston, Chairman and CEO of Calypso. "Our innovative infrastructure coupled with continuous functional enhancements, consistently pushes the boundaries for capital markets systems."

In 2006 a variety of enhancements and services were introduced, including:

• Enterprise Risk Service (ERS), state-of-the-art risk management capabilities that meets the challenges of calculating, aggregating, and disseminating key risk measures in real-time
• Cash management module, enables users to streamline their own accounts, as well as provide a value-added service to their clients
• Enhanced collateral management module, including margin requirements
• Continued leadership in credit including support for credit default swaps on asset- backed securities and for CDO2
• Front-to-back support for a wide variety of structured and hybrid products without coding, enabling clients to react quickly to the creativity of their trading room

Calypso continued to achieve industry recognition throughout 2006 for its innovative technology that helps organizations address end-to-end capital market needs for the newest, most complex investments to high volume, commoditized instruments and achieve unmatched results. Key awards included two first place rankings in Risk Magazine for 'Credit Trading' and 'Credit Front-to-Back Office Systems', plus top-five finishes in nine other categories; Financial-i's 'Most Innovative Derivatives Processing Solution', and a year-over-year 131 ranking jump to the 309th spot in the Inc. 500 ranking of fastest-growing private companies in the US.

Calypso Ranked as Top Solution for Credit Derivatives

• Risk Magazine awards Calypso the #1 position in credit trading as well as credit front-to-back office systems in 2006 Technology Rankings
• Calypso recognized as ‘Most Innovative Derivatives Processing Solution’ by Financial-i’s inaugural “Leaders in Innovation Awards”

San Francisco, January 10, 2007 – Calypso Technology Inc, the leading provider of capital markets trading software solutions, today announced that the Calypso credit derivatives solution was voted the top trading system and front-to-back office system for credit in Risk Magazine’s 2006 Technology Rankings.

“The biggest gains in this year’s survey have been made by California-based Calypso Technology, Inc. Calypso has moved from 16th to sixth place in the overall results, with wins in credit trading and credit front-to-back office systems, and top-five finishes in nine other categories,” noted Risk Magazine. Calypso Technology’s diverse client base and unique strength in credit derivatives enabled the jump up the rankings and resulting wins in credit. The rankings are based on a survey of technology end-users in banks, hedge funds, asset management firms, and other financial institutions.

Calypso was named the ‘Most Innovative Derivatives Processing Solution’ by Financial-i Magazine in recognition of its commitment to product innovation over the last 12 to 18 months, cost effectiveness in terms of implementation and deployment, ease of implementation, and agility in responding to the dynamic financial markets. Built on superior system architecture, Calypso provides end-to-end solutions that help clients excel in today’s heightened competitive environment. “It is the only solution that was built from inception as an integrated product addressing all asset classes, and front-to-back-office functions,” the magazine stated in its Q4 2006 issue.

Charles Marston, Chairman and CEO of Calypso Technology, Inc. commented: “These awards highlight the satisfaction of our customers and also Calypso’s ability to keep pace with the evolving derivatives market and incorporate the latest developments into our solutions. We continually strive toward both these goals so we are delighted to receive this prestigious industry recognition. We would also like to thank our customers for voting for Calypso – it is through their partnership that we have gained our position as the key innovator supporting capital markets trading.”

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.

Calypso Ranked Among Fastest Growing Private US Companies of 2005

San Francisco, 07 November 2005 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced it had been ranked as one of the fastest-growing private companies in the US by Inc. magazine. The Inc. 500 ranking is based on Calypso’s achievement of a high three-year sales growth rate.

Calypso has seen strong growth in demand for its integrated trading system in recent years and has been selected by financial institutions such as Citigroup, HSBC, Bear Stearns, Dresdner and Wells Fargo. During this time, Calypso has also expanded its global presence and significantly increased headcount worldwide.

“Inclusion in a prestigious ranking like the Inc. 500 underlines Calypso’s strong performance and the value of the solutions we bring to the market. It also demonstrates that not only is there a genuine need for capital markets trading solutions, but that the Calypso offering can competently meet that need. We are building a company for continued growth, and are pleased to be recognized for our past performance,” added Charles Marston, Chairman and CEO of Calypso Technology, Inc.

The Inc. 500 ranks privately held companies in North America according to year-over-year sales growth from 2001 to 2004. Companies are ranked on cumulative three-year sales growth from 2001 to 2004. Over the years, the Inc. 500 has identified the next generation of world-class companies, with Microsoft, Timberland, Oracle, Morningstar, Gateway, E*Trade, Intuit, and Domino's Pizza all appearing on the list before they became industry powerhouses. The full ranking is published in the November issue of Inc. magazine.

Calypso Appoints Gerard Rafie as VP of Marketing

San Francisco, 20 October 2005 – Calypso Technology, Inc., today announced the appointment of Gerard Rafie as Vice President of Marketing. Based in San Francisco, Mr. Rafie will be responsible for building total solution packages around the Calypso system, encompassing best market practice guidelines, standardized implementations and training clients and partners through the Calypso University program. Mr. Rafie will serve on Calypso’s executive team.

Prior to joining Calypso, Mr. Rafie served for 13 years at Murex SA where, most recently, he was responsible for sales in EMEA following several senior roles in engineering, support, product management and professional services.

Gerard Rafie comments: “Calypso’s software technology is best of breed. By adding the total implementation and support infrastructure around the system itself, we are creating a series of entire solutions for each area of the capital markets business. This will cement Calypso’s position as the market-leading vendor and further strengthen our existing offering.”

“Gerard joins us at an exciting time for Calypso. We have been working on developing total solutions for our clients by business area. Gerard will continue this initiative to ensure that Calypso serves as a ‘one-stop shop’ for advice, training and identification of suitable resources in the appropriate field,” added Charles Marston, Chairman and CEO of Calypso Technology, Inc.

Calypso Adds Prominent Executives to Board of Directors

San Francisco, 21 September 2005 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced the expansion of its Board with the appointment of three additional independent outside directors. Frank Fanzilli, former CIO of Credit Suisse First Boston, Barry Sabloff, former EVP and Head of The International Group at Bank One, and Paul Sallaberry, previously EVP of Worldwide Field Operations at Veritas Software, have all been added to Calypso’s Board of Directors. The company has spent the past twelve months in a selection process for its Board of Directors, and the recent appointments come as a result of this effort. Ronald Codd, former CFO of PeopleSoft, was appointed to the Calypso Board as an independent director earlier this year.

Frank Fanzilli brings to Calypso his extensive experience of managing the IT organization of a top Wall Street institution. During his 17 year tenure at Credit Suisse First Boston, Mr. Fanzilli consolidated and integrated the bank’s extensive IT resources, managing 4,000 IT professionals and $1.5bn in spending. He also brings valuable public and private company board experience, which includes serving on the Board of Directors of PeopleSoft during its acquisition by Oracle.

Barry Sabloff has held several executive and board positions in the financial services industry and brings important insight into the capital markets industry to Calypso’s Board. During his 30 year career with First Chicago and Bank One, Mr. Sabloff held a number of leadership roles including Head of Global Risk Management, which included responsibility for the front office of global derivatives and foreign exchange trading and the back office and systems for capital markets.

Paul Sallaberry joins the Board as the sales and professional services expert. Previously, he was the EVP of Field Operations at Veritas Software, prior to its acquisition by Symantec. Mr. Sallaberry was responsible for defining strategy and managing operational activity that generated revenue in excess of $1.5bn. Under his leadership, the firm consistently met profit goals for the corporation’s global multi-tier sales distribution and professional services operations.

The expansion of the new board is part of the strategic plan to prepare the company for the next level of growth.

“We view our Board of Directors not just as a vehicle for sound corporate governance, but as a source of critical and strategic business insight,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc. “As we become a larger firm and continue our growth path, we believe Calypso shareholders will benefit from our director’s wisdom and business experience. Our new board members bring a deep understanding of how to build and scale an organization to deliver consistent growth results year after year, which is based principally on our clients gaining real value from effectively using our software technology in their business.”

Calypso’s clients include Citigroup, Bear Stearns, HSBC, ING, Wachovia, Wells Fargo, SunTrust, BNP Paribas, Société Générale, Calyon, Rabobank, ING, HVB Group, Dresdner Bank and the Royal Bank of Scotland.

Calypso Launches CalypsoML

Sibos - Copenhagen, 07 September 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software solutions, today announced the launch of CalypsoML, which enables customers to interchange data in XML format. CalypsoML is a component of the comprehensive suite of Calypso solutions spanning all capital markets products.

With increasing importance for any solution to fit well within a bank's enterprise environment, CalypsoML is focused on ensuring that the Calypso application communicates effectively with all existing systems. By streamlining the import and export of data using XML, CalypsoML actively reduces the cost of implementations by eliminating the need to write code for integration, ultimately reducing the time taken to implement Calypso solutions.

"Each client's relationship with Calypso extends beyond the solution itself," stated Kishore Bopardikar, Founder and President of Calypso Technology, Inc. "We always seek ways to further enhance the total service and software we provide, and improvements to the Calypso implementation process are a critical part of this endeavor. CalypsoML was designed to allow our clients to better manage their associated project costs and to streamline the process of integrating Calypso solutions within their own infrastructure."

Rabobank Goes Live on Calypso for FX Processing

Sibos - Copenhagen, 06 September 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software systems, today announced that Rabobank is now live on Calypso for FX processing.

Rabobank needed a replacement for its legacy system that would provide the desired level of automation and support the growth of the FX business going forward. It was essential that the chosen solution allowed Rabobank to maintain a high level of service to clients while streamlining its back office processes.

The bank went through a selection process which saw Calypso judged against other vendors in evaluations and workshops. Calypso was selected as it met all expectations for the automation of commoditised FX products while assisting Rabobank in managing its client base. The back office module in Calypso includes exception management functionality – which allows Rabobank to view breaks in the automated process and take the necessary steps to repair them – bringing users additional controls in the back office.

René Steenhart, Head of Operations at Rabobank, commented: "Providing exceptional service to our clients has always been a priority within Rabobank, and at the same time we wanted to achieve a more streamlined process in our back office. Calypso has enabled us to meet these twin goals."

Charles Marston, Chairman and CEO of Calypso Technology, Inc. said: "Reducing costs is a key area of focus in the back office, however it is essential that this is achieved without impacting the level of service that discerning clients have come to expect. We are delighted to have worked with Rabobank to assist them in this area."

About Rabobank
The Rabobank Group is the largest financial services provider in the Dutch market. Owing to its co-operative foundation, the Rabobank Group's primary drive is to act in its clients' interest. Its core objective is to create and increase customer value. The Rabobank Group is the world's most creditworthy privately owned financial institution. It has over nine million private and business customers and is market leader in the Netherlands in virtually every area of financial services. The Rabobank Group consists of 275 independent local Rabobanks in the Netherlands, all of them co-operatives with a combined total of 1.5 million members. The Rabobank Group also encompasses internationally well known specialised entities such as Rabobank International (corporate banking, investment banking and international retail banking), De Lage Landen (leasing and vendor finance), Gilde Investment (venture capital), Interpolis (insurance) and Robeco (asset management). Its international network encompasses 244 offices in 37 countries. For further information, please visit http://www.rabobank.com/content/.

DataSynapse and Calypso Expand Partnership to Offer Pre-Integrated Grid Computing Solutions to Leading Financial Institutions

New York and San Francisco, 21 July 2005 – DataSynapse, Inc., the fastest-growing provider of grid-computing solutions for the virtual enterprise, and Calypso Technology, Inc., a leading provider of cross-asset trading solutions for the capital markets industry, today announced that DataSynapse’s GridServer ® infrastructure software is now available pre-integrated with the Calypso trading platform.

Traders and risk managers using Calypso can access an enterprise level grid computing solution. Calypso users will benefit from being able to run Calypso’s market-leading solution within a highly scalable environment that optimizes available system and data resources across the enterprise. With GridServer, financial institutions can guarantee workload execution and respond to changing business requirements in real time, satisfying the volatile and unpredictable demand for computer processing power.

“The lifeblood of our clients’ business is being able to make informed decisions based on accurate and timely risk calculations and financial projections,” said Kishore Bopardikar, founder and president of Calypso Technology, Inc. “Calypso brings to market a superior product offering and flexible IT infrastructure which is able to support high-volume and complex calculations and to improve time-to-results to build a competitive edge. Our partnership with DataSynapse will enable us to further build upon this capability.”

The joint solution was co-developed by Calypso and DataSynapse and joint clients have already begun to benefit from using Calypso together with GridServer. One global bank acknowledges that with the jointly deployed solution, the bank can now easily support an increase in global trading volume without having to incur additional development or support costs.

“The Calypso partnership extends DataSynapse’s leadership position in financial services and provides the market with a robust and seamless solution equipped to handle the speed and capacity requirements demanded by the business,” said Mark Mszanski, executive vice president of global field operations at DataSynapse. “The joint offering ensures that users receive a fully optimized solution as new requirements surface for guaranteed application resiliency, resource utilization and high-performance computing.”

About DataSynapse
DataSynapse, Inc. provides grid-computing solutions for the virtual enterprise, helping organizations drive new levels of business performance through the creation of an agile and responsive IT infrastructure. The company’s standards-based GridServer® software virtualizes data components and business logic found in business-critical applications and distributes these services across available system resources on demand – establishing a utility computing model that eliminates performance barriers, significantly increases service levels and radically lowers total cost of ownership. DataSynapse works with the world’s largest financial institutions including Bank of America, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs and Nationwide, as well as market leaders in the government, energy and industrial sectors. The company is headquartered in New York and can be found at http://www.datasynapse.com/.

Calypso Enables Rand Merchant Bank to Achieve an Average 70% Efficiency Gain

San Francisco, 21 June 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software systems, today reported that Rand Merchant Bank (RMB) has experienced marked improvements in efficiency following the implementation of Calypso in its interest rate derivatives business. RMB has recorded an average 70% efficiency gain for the IRD products currently live on Calypso.

“Our goal was to achieve greater efficiency through better controls and Calypso has assisted us with this. As we continue to roll out the solution across asset classes and business areas, I’m sure we’ll continue to see further benefits,” commented Wendy Donaldson – RMB, Treasury Operations.

“The working relationship between RMB and Calypso has proved to be beneficial to both parties and we look forward to continuing to work together. Calypso’s technology distinguishes it from other players in the capital markets space, and it is this strength that has been appreciated by RMB,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc.

RMB licensed Calypso as a cross-asset front to back software system and was Calypso’s first South African client. The bank went live with the Calypso solution for payments in Q3 2004.

About Rand Merchant Bank
Rand Merchant Bank (RMB) is the investment banking arm of FirstRand, one of South Africa’s largest, publicly quoted financial services groups. RMB is a full-service investment bank with offices in South Africa, Ireland, the United Kingdom, Mauritius and Australia. RMB has enjoyed uninterrupted profit growth since its formation in 1977. Independent surveys consistently rank it first in mergers and acquisitions, BEE listings, corporate finance, structured and project finance, private equity and as the leading debt house in South Africa.

Calypso Software Chosen by Bear Stearns

San Francisco, 11 May 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software systems, today announced that Bear Stearns has chosen Calypso as its front to back system for derivatives.

The selection of Calypso’s software represents a strategic decision by Bear Stearns to consolidate trading and processing for credit, interest rate and equity derivatives on to a single platform.

Peter Cherasia, chief information officer of Bear Stearns, explained: “There was a need to make changes in the business to improve efficiency. Our vision was of a derivatives operation that was streamlined from front to back and we opted to achieve this through the use of Calypso’s integrated solution.”

Sandeep Saksena, Head of Global Derivatives IT at Bear Stearns, commented: “Technology is vital to the success of our derivatives businesses, and Calypso gives us the modern technical infrastructure required to support continued growth. We see it as a competitive advantage in our markets.”

Charles Marston, chairman and CEO of Calypso Technology, Inc., said: “We are pleased to be part of Bear’s investment in its future derivatives platform. In rationalizing its technology environment, Bear is actively addressing a problem faced by many trading organizations. It is a decisive step. That they take that step with Calypso is a measure of our accomplishment as provider of solutions to the financial industry.”

About Bear Stearns
Founded in 1923, The Bear Stearns Companies Inc. is the parent company of Bear, Stearns & Co. Inc., a leading investment banking and securities trading and brokerage firm serving governments, corporations, institutions and individuals worldwide. With approximately $48.5 billion in total capital, the company’s business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, securities research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker-dealer clearing services, including clearing and securities lending. Headquartered in New York City , the company has approximately 11,000 employees worldwide. For additional information about Bear Stearns, please visit http://www.bearstearns.com/