GemStone Systems Adds To Financial Services Team, Result of Increased Industry Growth and Success

Ned Farrington Joins As Regional Sales Manager

Beaverton, Ore.- August 25, 2003 - GemStone Systems, Inc., announced today that Ned Farrington has joined the company as a regional sales manager focusing on the financial services industry. Mr. Farrington's twenty five years of financial services experience will further strengthen GemStone's presence on Wall Street.

'Ned's expertise and key relationships on both the buy and sell side of banks, financial firms and electronic exchanges are a significant win for GemStone", said Richard Lamb, president of GemStone Systems. "Ned understands the industry's pain points and is able to articulate the benefits of GemStone technology in any existing infrastructure.'

Farrington brings more than ten years of experience to GemStone from senior sales management and marketing positions. Farrington also has fifteen years of expertise in information technology for the financial services sector. He held senior level positions focused on the straight through processing initiative (STP) while at Misys International, Perot Systems and OM Technology. Farrington was personally responsible for helping these company's succeed as he brought in $10 million in annual sales. In addition, Mr. Farrington successfully helped establish a risk management trading software firm and an energy processing company. Farrington earned a Bachelor of Arts from the University of Connecticut.

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 such as IntercontinentalExchange Inc., JPMorgan Chase, UBS Warburg, BellSouth Telecommunications 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