San Francisco - 8 January 2007

- Risk Magazine awards Calypso the #1 position in credit trading as well as credit front-to-back office systems in 2006 Technology Rankings

- Calypso recognized as 'Most Innovative Derivatives Processing Solution' by Financial-i's inaugural 'Leaders in Innovation Awards'

Calypso Technology Inc, the leading provider of capital markets trading software solutions, today announced that the Calypso credit derivatives solution was voted the top trading system and front-to-back office system for credit in Risk Magazine's
2006 Technology Rankings.

"The biggest gains in this year's survey have been made by California-based Calypso Technology, Inc. Calypso has moved from 16th to sixth place in the overall results, with wins in credit trading and credit front-to-back office systems, and top-five finishes in nine other categories," noted Risk Magazine. Calypso Technology's diverse client base and unique strength in credit derivatives enabled the jump up the rankings and resulting wins in credit. The rankings are based on a survey of technology end-users in banks, hedge funds, asset management firms, and other financial institutions.

Calypso was named the 'Most Innovative Derivatives Processing Solution'
by Financial-i Magazine, in recognition of its commitment to product innovation over the last 12 to 18 months, cost effectiveness in terms of implementation and deployment, ease of implementation, and agility in responding to the dynamic financial markets. Built on superior system architecture, Calypso provides end-to-end solutions that help clients excel in today's heightened competitive environment. "It is the only solution that was built from inception as an integrated product addressing all asset classes, and front-to-back-office functions," the magazine stated in its Q4 2006 issue.

Charles Marston, Chairman and CEO of Calypso Technology, Inc. commented, "These awards highlight the satisfaction of our customers and also Calypso's ability to keep pace with the evolving derivatives market and incorporate the latest developments into our solutions. We continually strive toward both these goals so we are delighted to receive this prestigious industry recognition. We would also like to thank our customers for voting for Calypso - it is through their partnership that we have gained our position as the key innovator supporting capital markets trading."

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