EXHIBIT (A)(5)(F)

PRESS RELEASE

KEYNOTE ANNOUNCES FINAL

RESULTS OF ISSUER TENDER OFFER

San Mateo, California, December 3, 2002 – Keynote Systems, Inc. (Nasdaq: KEYN) today announced the final results of its modified Dutch auction issuer tender offer for up to 10 million shares of its common stock at a purchase price per share of between $7.00 and $8.00, net to the seller in cash, without interest, which expired on November 26, 2002.

Based on a final count by American Stock Transfer & Trust Company, the depositary for the offer, approximately 4.3 million shares of common stock were properly tendered and not withdrawn at prices at or below $8.00. As previously announced, pursuant to applicable securities laws, Keynote will purchase all of the tendered shares at a purchase price of $8.00 per share. The shares being purchased represent approximately 15.8% of the Company’s approximately 27.1 million shares outstanding as of September 30, 2002. The aggregate purchase price paid will be approximately $34.2 million.

The dealer manager for the tender offer was Goldman, Sachs & Co. and the information agent was Georgeson Shareholder Communications Inc.

About Keynote

Keynote Systems, Inc. (Nasdaq “KEYN”), The Internet Performance Authority^®, is the global leader in Internet performance management and testing services that improve the quality of e-business. Keynote’s services enable corporate enterprises to benchmark, diagnose, test and manage their e-business systems both inside and outside the firewall. More than 2,300 corporate IT departments and 16,000 individual subscribers rely on the Company’s easy-to-use and cost-effective services to optimize revenue and reduce downtime costs without requiring additional complex and costly software implementations.

Keynote Systems, Inc. was founded in 1995 and is headquartered in San Mateo, California. The Company can be reached at www.keynote.com or by phone in the U.S. at 650-403-2400.

^© 2002 Keynote Systems, Inc. The Internet Performance Authority is a registered trademark of Keynote Systems, Inc. Keynote is a trademark of Keynote Systems, Inc.

Contact:

Investor Relations

Sally Bishop

Keynote Systems, Inc.

(650) 403-3314

sbishop@keynote.com