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Former Sun Microsystems Executive Masood Jabbar Joins Calypso Technology’s Board of Directors

Mr. Jabbar brings 30 years of technology experience to Calypso

Calypso Technology Inc, a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, today announced the addition of Masood Jabbar to the company’s Board of Directors. Mr. Jabbar is the fifth independent director appointed to the Board.

“I am very excited to join Calypso’s Board of Directors,” said Mr. Jabbar. “I believe the company has a tremendous future: there are few companies today with the global reach and traction that Calypso has in its market space. Calypso Technology has a visionary executive team, dedicated employees, and a truly first-class technology offering. I look forward to working with them to help shape the future.”

Mr. Jabbar, a 30-year veteran of the technology industry, previously spent 16 years at Sun Microsystems, where he ended his tenure in 2002 as Executive Vice President of Global Sales Operations. In this capacity, Mr. Jabbar was responsible for all sales and support activities for the company. Prior to this he was the president of Sun Microsystems Computer Corporation where he ran the multibillion dollar business unit that developed, manufactured and marketed desktop and server computing systems. During his time at Sun, Mr. Jabbar also served as Chief Financial Officer of Sun Microsystems Computer Corporation, General Manager, and Vice President of Finance and Planning. Mr. Jabbar currently sits on the Board of Directors at Silicon Image Inc. (Nasdaq: SIMG), JDS Uniphase (Nasdaq: JDSU) and RF Micro Devices (Nasdaq: RFMD).

Mr. Jabbar joins four other independent Directors on Calypso Technology’s Board, including former PeopleSoft CFO Ronald Codd, former Credit Suisse First Boston Global CIO Frank J. Fanzilli Jr., former BankOne EVP and Head of the International Group Barry M. Sabloff, and former Veritas Software EVP of Worldwide Field Operations Paul Sallaberry. Kishore Bopardikar, the company’s president and Charles Marston, the company’s chief executive officer have served and continue to serve on the company’s Board of Directors since the company’s inception.

Charles Marston, Chairman and CEO of Calypso Technology said, “We are thrilled that Mr. Jabbar has agreed to join our esteemed Board of Directors. He brings a vast amount of operational expertise and leadership to the company. Our Board, comprised of the leading finance and technology executives in the industry, provides valuable insight and their leadership and guidance are crucial to our continued growth.”