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CALYPSO APPOINTS GERARD RAFIE AS VP OF MARKETING

San Francisco, 20 October 2005 - Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, 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.