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Calypso Boosts London Sales Team

-Calypso Expands to Cater for Increasing Demand for Credit Derivatives

San Francisco, 24 May 2004 - Calypso Technology announced today that it
has appointed Mikael Lindh as Senior Sales Executive for its London
team. His appointment is in response to the rising market demand for
Calypso's credit derivatives trading technology.

Lindh joins from Front Capital Systems, where he was responsible for
sales and market development. He comments, "The right technology is imperative for banks to be able to control and expand their credit derivatives business. Calypso's technology helps them to make the most of this dynamic trading environment. I am thrilled to be joining at such an exciting phase in Calypso's growth."

Headquartered in the US, with offices in Europe and Asia, Calypso develops technology for the capital markets industry. Calypso's focus is on providing banks and brokers with a flexible systems infrastructure that enables them to capitalise on trading opportunities brought by market innovations.

Charles Marston, CEO, Calypso, comments, "Our success depends on hiring the best talent and experience in the market. The credit derivatives market is increasing in volume and complexity and the recent merger of the credit derivative indices, Trac-x and iBoxx, will only facilitate more rapid growth. We have seen a growing interest for our technology and need to increase our resourcing appropriately."