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CALYPSO APPOINTS PEOPLESOFT VETERAN RON CODD TO BOARD OF DIRECTORS

San Francisco, 17 March 2005 - Calypso Technology, Inc., a leading provider of cross-asset front-to-back trading solutions for the capital markets industry, today announced the addition of Ronald E. F. Codd to the company's board of directors. As Calypso's first independent director, Mr. Codd will serve in the audit committee chairmanship and as the board's financial expert.

Mr. Codd previously served at PeopleSoft, Inc. as CFO, Senior Vice President of Finance and Administration, and Secretary of the company. During his 7-year tenure at PeopleSoft, the company grew its annual revenues from $15 million to $1.5 billion and its employment base from 75 to approximately 7,000, a 10,000% growth rate. Mr. Codd marshalled PeopleSoft's successful Initial Public Offering in 1992.

Following his tenure at PeopleSoft, Mr. Codd assumed the role of President, CEO and Secretary at spin-out software firm Momentum Business Applications, Inc. which was later repurchased by PeopleSoft. Including his tenure at PeopleSoft, Mr. Codd has over 23 years of financial and administrative experience with rapid-growth technology companies, including MIPS Computer Systems, Inc., Wyse Technology and Tandem Computers, Inc. Mr. Codd currently operates as an independent executive consultant for various high technology companies and is on the board of directors of four other software companies, two of which are publicly held.

"Calypso is strategically positioned and financially healthy. Its highly differentiated software products address the urgent needs of capital market firms today, and the company has an excellent opportunity for continued growth," said Mr. Codd. "I look forward to working with Calypso's management team to prepare Calypso for its next stage of growth as we continue to enhance shareholder value."

"Having played key roles with highly successful technology concerns, Ron is a highly sought director candidate, and we are very pleased to welcome him to our board," said Charles Marston, Chairman and CEO of Calypso Technology, Inc. "Ron's financial guidance and strategic insight will be invaluable."