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RAND MERCHANT BANK GOES LIVE ON CALYPSO

Sibos - Atlanta, 12 October 2004 - Calypso Technology announced today that South Africa's Rand Merchant Bank (RMB) has gone live on the Calypso system for payments. The bank has licensed the Calypso system for cross asset coverage and is in the process of implementing the system for other product groups.

RMB sees Calypso as the right technology platform for the bank to support future business growth.

"Calypso fits well into the RMB technical architecture. Written in Java and designed for flexibility and customization it gives us a solid financial framework to work from," said John Murray - RMB Technical Architect.

"The implementation of Calypso provides us with better control and enhanced efficiency, allowing us to support our current and future business needs in a cost effective manner," added Wendy Donaldson - RMB, Treasury Operations.

RMB is Calypso's first client in South Africa.

"RMB is well known for innovation in South Africa, which makes them an ideal partner for us to work with. We are looking forward to building our relationship further with them," said Charles Marston, CEO of Calypso.