San Francisco, Mumbai - 14 September 2006

- Tenth office opened due to local demand and expansion plans
- Calypso to demonstrate system at the Risk India Congress, 19-20 September

Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced the opening of its Mumbai office, and the incorporation of its Indian subsidiary.

The Mumbai office will comprise individuals in sales and support roles, as well as developers who will complement the existing development teams in San Francisco, New York, Paris and London. Calypso has increased headcount globally in the last 12 months and, by opening an office in India, the company plans to continue to drive its hiring plan forward.

The new office is headed by Manohar Uchil, who joins Calypso from JPMorgan Chase, bringing over 20 years of financial markets experience.
Mr. Uchil spent six years at JPMorgan where his roles included Chief Business Technologist, India, for the investment banking division. Prior to JPMorgan, he also gained extensive capital markets IT experience from Citicorp Overseas Software Ltd and Tata Consultancy Services.

"In Mumbai, we have identified a pool of talented individuals in the field of financial software technology, as well as an appetite in the banks for capital markets trading, including derivatives and structured products," said Kishore Bopardikar, President of Calypso Technology, Inc. "This provides an excellent setting in which to grow Calypso and, with Manohar's knowledge and experience, we expect to successfully recruit a great local team that will enrich Calypso in several ways.
Furthermore, we are excited about the opportunities presented to us in the Indian market and look forward to welcoming new clients in the region."

The Mumbai office is the tenth Calypso office. Headquartered in San Francisco, Calypso Technology also has offices in New York, London, Paris, Frankfurt, Singapore, Sydney, Tokyo and Johannesburg. Calypso Technology will exhibit at the Risk India Congress taking place in Mumbai on 19-20 September.

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