Keynote Elects Sun to Board

Keynote Systems, a provider of Internet and mobile cloud testing & monitoring, has elected Anthony Sun to its board of directors. Tony Sun was a general partner of Venrock Associates (Rockefeller Family Venture Funds) for over 30 years and managing general partner and CEO for the last eight years, retiring in 2010. In his career, he has invested in and advised over 60 high tech start up companies with more than two dozen successful IPOs or M&A realizations. In 2000, he founded GGV Capital, a $1 billion China-focused venture fund.

PRESS RELEASE

Keynote® Systems KEYN -0.15% , the global leader in Internet and mobile cloud testing & monitoring, elected Anthony (“Tony”) Sun, 60, to its board of directors at its 2012 Annual Meeting of Stockholders held last week. Tony Sun was a General Partner of Venrock Associates (Rockefeller Family Venture Funds) for over 30 years and Managing General Partner and CEO for the last eight years, retiring in 2010. He is the first Asian American to lead one of the nation’s leading venture capital firms and is considered by many in Silicon Valley to be the pioneering Asian American leader in technology at a time when few Asian Americans held such high level positions. In his career, Tony invested in and advised over 60 high tech start up companies with more than two dozen successful IPOs or M&A realizations. In addition, in 2000, he founded GGV Capital, a successful $1 billion China-focused venture fund.

Tony currently serves on the boards of CM Capital, Knightsbridge Advisers , Cognex Corporation CGNX -0.18% , and various other privately held companies.

Tony is also the Chair of the Asian Art Museum of San Francisco and currently serves on the boards of the MIT Center for International Studies, the Harvard China Fund, the Singapore University of Technology and Design (a new University founded in collaboration between Singapore and MIT), and the Committee of 100 (a bi-partisan organization of prominent Chinese Americans to address US-China relations). He is a member of the Stanford Associates, providing the lead gift for the Sun Field Station at the Jasper Ridge Biological Preserve at Stanford University. He is the founding board member of the Harvard Business School Research Center in California, was a venture capital advisor to the U.S. Navy, a member of the International Resource Panel for the Government of Singapore and was on the board of MIT from 1998 — 2008.

Umang Gupta, Keynote System’s chairman and chief executive officer, said: “We are thrilled and honored to have Tony, a true Silicon Valley pioneer, join the Keynote board at such a pivotal point in our own company’s history. Tony participated in, and help shaped, the evolution of information technology from the early days of the semiconductor manufacturing, PC hardware and software industry, through the innovations in telecommunications, to the paradigm shift of the Internet. His unparalleled experience advising companies on growth strategies and extensive network of personal and professional contacts built up over many years across Asia, and particularly in China, will help Keynote tremendously as we begin to execute more aggressively in those markets.”

Sun added, “With the explosion in cloud and mobile computing, Keynote has significant growth opportunities. Throughout its history, Keynote has led testing and monitoring innovation with new and ground breaking products. With the recent acquisition of DeviceAnywhere the company has extended its market reach into the mobile application lifecycle management market. I am excited to work with the team as we drive to the next level.”

Tony holds a BS and MS in electrical engineering from MIT and an MBA from the Harvard Business School.

In addition to Sun, Keynote’s board of directors include Umang Gupta, Keynote chairman and CEO; Charles Boesenberg, former chairman and CEO, NetIQ; Mohan Gyani, former president and CEO of AT&T Wireless Mobility; Jennifer Johnson, EVP and COO of Franklin Resources, Inc; Raymond L. Ocampo Jr., president and CEO of Samurai Surfer LLC; and Dr. Deborah Rieman, former president and CEO of Check Point Software Technologies.

Forward-Looking Statements

This press release contains forward-looking statements that are not purely historical regarding the Company or management’s intentions, hopes, beliefs, expectations and strategies for the future. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results could differ materially from the Company’s current expectations.

Forward-looking statements in this release include, but are not limited to, forecasts concerning Keynote’s future growth, expected revenue, GAAP and Non-GAAP earnings per share and other results, and the related underlying assumptions in calculating those amounts including foreign exchange rates, the impact of the recent acquisition and other future financial results. It is important to note that actual outcomes and Keynote’s actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as risks related to the integration of the acquisition, including retaining customers and employees, the uncertain impact global economic conditions, particularly in Europe, will have on Keynote’s business or the businesses of current or potential customers, Keynote’s ability to successfully market and sell its current and recently acquired services to new or existing customers, Keynote’s ability to develop and introduce new services in a timely manner and customer acceptance of new services, the extent to which demand for Keynote’s various services fluctuates, the risk that Keynote’s recent revenue growth may not be sustained, the extent to which existing customers renew their subscriptions and purchase additional services, particularly enterprise customers, Keynote’s ability to attract and retain new customers, Keynote’s ability to operate its international operations and manage related costs successfully, Keynote’s ability to retain key employees, pricing pressure with respect to Keynote’s services, unforeseen expenses, competition in Keynote’s markets, costs associated with any future acquisitions, unforeseen expenses or liabilities associated with Keynote’s recent acquisition, the effect of acquisitions by competitors in Keynote’s target markets, Keynote’s ability to keep pace with changes in the mobile and Internet infrastructure as well as other technological changes, the impact of changes in foreign exchange rates, which can be significant, and the success of Keynote’s international operations. Readers should also refer to the risks outlined in Keynote’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for its fiscal year ended September 30, 2011, and its quarterly reports on Form 10-Q and any current reports on Form 8-K filed during the fiscal year.

All forward-looking statements and reasons why results might differ included in this release are made as of the date of this press release, based on information available to Keynote as of the date of this press release, and Keynote assumes no obligation to update any such forward-looking statement or reasons why results might differ.

About Keynote Systems

Keynote® Systems, Inc., KEYN -0.15% is the global leader in Internet and mobile cloud testing and monitoring. Keynote maintains the world’s largest on-demand performance monitoring and testing infrastructure for Web and mobile sites comprised of over 4,000 measurement computers and mobile devices in over 275 locations around the world that enable companies to continuously improve the online and mobile experience. Known as ‘The Mobile and Internet Performance Authority™,’ Keynote offers three market-leading product platforms:

Keynote Perspective® provides on-demand performance monitoring for enterprise Web and mobile sites including online portals, e-commerce sites and B2B sites. Over 2,000 customers rely on Keynote Perspective services to know precisely how their websites, content, and applications perform on actual browsers, networks, and mobile devices.

Keynote DeviceAnywhere™ is an enterprise-class, cloud-based, mobile application lifecycle management (ALM) testing & quality assurance platform. It is used by over 1,000 mobile developers and enterprises to deliver mobile applications, content and services faster while reducing downtime and testing costs.

Keynote SIGOS offers active end-to-end Quality of Service (QoS) testing and monitoring solutions for mobile, fixed and VoIP communications. Its SITE and Global Roamer products are used by over 200 network operators, content providers, carriers and regulators in over 100 countries worldwide.

Keynote’s 4,000 customers represent top Internet and mobile companies and include American Express, AT&T, Disney, eBay, E*TRADE, Expedia, Google, Microsoft, SonyEricsson, T-Mobile and Vodafone. Keynote Systems is headquartered in San Mateo, California and can be reached at http://www.keynote.com/ or by phone in the U.S. at 1-800-KEYNOTE.

The trademarks or registered trademarks of Keynote Systems, Inc. in the United States and other countries include Keynote®, Data Pulse®, CustomerScope®, Customer Experience Rankings®, Perspective®, Keynote Red Alert®, WebEffective®, The Internet Performance Authority®, MyKeynote®, SIGOS®, SITE®, The Mobile & Internet Performance Authority®, FlexUse®, DeviceAnywhere® DemoAnywhere®, DeviceAnywhere Proof Center®, DeviceAnywhere Test Center®, MonitorAnywhere®, and all other related trademarks, trade names, logos, characters, design and trade dress and may not be used without written permission. All other trademarks are the property of their respective owners. © 2012 Keynote Systems, Inc.