Sleepycat Names Michael Olson President and CEO; New President and CEO Rounds out Executive Management Team with Engineering, Sales and Marketing Expertise.

Business Editors/High-Tech Writers

LINCOLN, Mass.--(BUSINESS WIRE)--Oct. 30, 2001

Sleepycat Software, Inc., distributor of the open source Berkeley DB embedded database system, today announced the appointment of Michael Olson to the position of President and Chief Executive Officer (CEO).

Olson has played an instrumental role in the growth of the company since he joined in 1998. Most recently, Olson held the position of Vice President of Marketing at Sleepycat, in which he grew the company's sales and marketing organization, hired a Vice President of Sales, and formalized the company's sales and business development procedures. In his new role as President and CEO, Olson is responsible for the overall strategic direction of the company, long-term business planning and raising the visibility of the Sleepycat brand.

"Mike's longstanding history with the company and in the software industry, coupled with his engineering and business acumen, make him the ideal person to take the company to the next level," said Dr. Margo Seltzer, company founder and Chairman of the Board.

Prior to joining Sleepycat Software, Olson was Vice President of Engineering at Molecular Applications Group, a biotechnology company based in Palo Alto, California.

He held a variety of technical and management roles at database companies in the San Francisco Bay Area, including Britton Lee, Illustra, and Informix. Olson was one of the original authors of the Berkeley DB library.

"In the rapidly-growing market for embedded systems, Sleepycat is poised to emerge as an industry leader," Michael Olson, President and CEO of Sleepycat, said. "We have built a company that has been profitable from the start. With a strong executive team in place, we're forging ahead to grow our business by providing the best solutions for critical applications development."

Other members of the Sleepycat executive management include: Margo Seltzer, co-founder and CTO; Keith Bostic, co-founder and Vice President, Engineering; Michael Ubell, Executive Architect; and Arlene E. Capsimalis, Vice President, Sales. In April of this year, Sleepycat supplemented its executive team with two Board Members: Guy Henshaw, Managing Director of Henshaw Vierra Management Counsel LLC, a San Francisco-based strategic management consultancy; and Clyde Johnston, who has a strong background in the operation and management of profitable technology companies. Johnston was most recently President and CEO of Innosoft International and negotiated the company's sale to Sun Microsystems in 2000.

About Sleepycat Software, Inc.

Sleepycat Software, Inc. was founded in 1996 to develop, support, and distribute Berkeley DB commercially. The company is privately held and has offices in Massachusetts and California. Sleepycat Software's Berkeley DB is the Open Source embedded database engine behind ISPs, wired and wireless networks, as well as e-commerce sites around the world. Developed in 1991 and available commercially since 1996, Berkeley DB is Open Source and runs on UNIX, Linux, VxWorks, QNX, embedded Linux, MacOS X and Windows 95/98/NT/2000.