GemStone Systems Adds to the Financial Services Team in New York, Robert MacNeill Joins as Chief Architect for Financial Services

Beaverton, Ore.- June 2, 2003 - GemStone Systems, Inc., announced today that Robert MacNeill has joined the company as Chief Architect for Financial Services. Mr. MacNeill will be responsible for developing business solutions with GemStone’s technology for financial services institutions that are striving to improve performance, reduce costs, and accelerate business processes.

“GemStone is focused on solving business problems for financial services customers that are enhancing and optimizing their mission critical, data intensive trading applications,” said Raj Kulkarni, chief technology officer of GemStone Systems. “Robert has a proven track record in helping leading Wall Street firms build electronic exchanges and trading applications, and will help GemStone grow its business within this vertical.”

Mr. MacNeill brings to GemStone more than 10 years of experience with distributed computing, messaging and advanced caching technologies to develop trading systems and data-intensive applications for the leading banks on Wall Street. He most recently served as director of technology for SpiritSoft, Inc., where he was the lead technical resource for North American activities, and responsible for technical sales, management of professional services, and product steering. Prior to SpiritSoft, he worked for Cambridge Technology Partners as a senior architect and systems designer.

About GemStone Systems, Inc.

GemStone Systems is a privately held company with over 20 years of software experience in developing high performance object oriented technology and highly scalable systems for enterprise organizations. GemStone’s patented technology delivers the speed, performance and capabilities that enterprises need from the hardware and software they already own. Industry leading global organizations like IntercontinentalExchange Inc., JPMorgan Chase, UBS Warburg, BellSouth Telecommunications, eBucks and Orient Overseas Container Line depend on GemStone technology and expertise to build scalable, mission-critical applications that have set the standard in their industries, and given them the competitive edge to be increasingly profitable.

Headquartered in Beaverton, Oregon, GemStone sells and supports its solutions through its US sales force and a worldwide network of distributors. For detailed product and company information, please visit www.gemstone.com

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GemStone is a registered trademark of GemStone Systems, Inc. Other names of actual companies and products mentioned herein may be the trademarks of their respective owners.