Cryptologic News 2007

[Newsflash]

09.01.2007

CryptoLogic Announces Purchase and License of Parbet Poker Brand and Related Assets

Acquisition expected to enhance poker room liquidity in key Scandinavian markets

TORONTO, ONTARIO, Jan 9, 2007 (CCNMatthews via COMTEX News Network) -- CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming industry, through its wholly-owned WagerLogic subsidiary, has signed an agreement to purchase the poker brand and related assets of Parbet.com, a popular Scandinavian online poker room. CryptoLogic companies will license the Parbet assets, poker software, payment processing services, multi-lingual customer support and services to a private Maltese online gaming company that will operate Parbet.com. The agreement is subject to certain closing conditions.
The purchase agreement includes all rights to the Parbet brand name, associated domain names such as Parbet.com, customer lists, databases and players' cash on deposit. Under the agreement, WagerLogic will pay EUR9 million for the brand and assets, and potentially additional amounts up to a maximum amount of EUR4 million, contingent on improved performance of the assets over a six-month earn-out period. The Parbet assets currently generate approximately US$7 million in revenue annually. CryptoLogic expects the licensing arrangement to add approximately US$2 million to 2007 earnings.

"We have advanced several key strategies today," said Lewis Rose, CryptoLogic's President and CEO. "First, we have invested a small portion of our significant cash balance to immediately increase return to shareholders. Second, we have built on our acknowledged strength in the European poker market. Third, we have advanced our strategy to own or control strategic brands in order to increase their success and earn greater returns. And we still have more than ample resources to take advantage of additional strategic opportunities in the future."

This purchase extends the company's brand ownership and management strategy, which it has used very successfully with the award-winning InterCasino and InterPoker brands and related brands, such as ExtremePoker. Under this strategy, WagerLogic owns or controls key brands that it licenses to third party operators, along with its full suite of online gaming software, network services, and marketing support services, in order to generate higher revenue to WagerLogic.

Subject to certain closing conditions, the agreements are expected to be completed by January 15, 2007, at which point Parbet players will be transitioned to the WagerLogic poker network and begin enjoying its benefits immediately.

"This is a very exciting development for Parbet players," stated Andy Goetsch, CryptoLogic's Vice President, Poker Software Development. "They will now enjoy a poker network with triple the liquidity, attractive room-wide incentives and a platform that is one of the most stable in the industry. All WagerLogic licensees and their players will benefit from the increased liquidity which Parbet, and all new licensees, add to the network."

"We continue to demonstrate our commitment to be at the forefront of the next wave of poker growth in Europe," said AJ Slivinski, WagerLogic's Managing Director. "In December we launched two new poker sites. In mid-January, we will launch three more poker sites: Parbet, Betsafe and Playboy Poker."


About CryptoLogic® (www.CryptoLogic.com)

Focused on integrity and innovation, CryptoLogic Inc. is a world-leading, blue-chip public developer and supplier of Internet gaming software. CryptoLogic's leadership in regulatory compliance makes it one of the very few companies with gaming software that is certified to strict standards similar to land-based gaming. WagerLogic Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of the company's gaming software and services to a blue-chip customer base around the world. For information on WagerLogic®, visit www.wagerlogic.com.

[Newsflash]

11.01.2007

New CryptoLogic Casino Games are Frightfully Innovative

Latest casino games introduce Elektra, Ghost Rider and new Frightmare series to award-winning line-up

TORONTO, ONTARIO, Jan 11, 2007 (CCNMatthews via COMTEX News Network) -- CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming industry, has developed 16 innovative new games that continue to deliver unlimited action, stunning animation and incredible jackpots - but this time with a frightening edge. Vampires, witches and warlocks will challenge Internet players as CryptoLogic's casino Bonus Pack 10, offered through its WagerLogic Limited subsidiary, introduces hair-raising Frightmare Jackpot Slots, and the latest slots based on Marvel Super Heroes, including Elektra, Ghost Rider and Iron Man. The game pack also includes the first-ever slot version of Cubis®, the enormously popular casual game.
"CryptoLogic's strength lies in developing and delivering unique, innovative games that today's sophisticated Internet players want and that online casino operators need in an increasingly competitive market," said Lewis Rose, CryptoLogic's President and CEO.

Justin Thouin, CryptoLogic's Vice President of Casino Software Development, noted, "Players want more choice, more excitement - and more chances to win. Our dynamic new lineup of games offers innovative bonus rounds, powerful graphics and multi-level slots that will keep players spellbound and keep our licensees' ahead of the competition."

The spine-tingling Frightmare Jackpot Slot series combines the excitement and variety of jackpot and bonus slots with the fright of classic horror storylines. Players can battle armies of the undead with Zone of the Zombies, witness warlocks cast spells with Witches and Warlocks and hunt vampires in Vampire Bats. With up to 25 lines of play and bets starting at a penny, these are thrilling games that must be played with the lights on!

Fans of the popular Marvel Super Heroes can enjoy more online gaming action with the addition of Elektra, Ghost Rider and Iron Man slots. Like CryptoLogic's other exciting Marvel slots, including the Hulk, Thor, X-Men, Blade, Punisher, Daredevil, and Silver Surfer, the new roster offers innovative bonus rounds. Players can bet on Iron Man as he uses his powers to smash skyscraper windows to unlock hidden bonus amounts, or back Ghost Rider as he drives through a spooky scrap yard freeing trapped innocents from cars with his trusty Chain Whip, or wager on Elektra as she faces off against an army of enemy ninjas in a dark alleyway.

Building on the huge popularity of Bejeweled, CryptoLogic has introduced the first-ever online slot version of Cubis® - a game that is consistently ranked as one of the top 10 games played on major portals such as Yahoo!, AOL and MSN. Featuring a three-dimensional board, intense graphics, a variety of game backgrounds, hidden secrets and jackpots up to 50,000 coins, Cubis is quickly becoming a player favourite.

The game pack also incorporates a variety of 25-line slot titles including: Silver Star, Thai Surprise, Time Machine, Caesars Salad, Thunder from Down Under and Mystique Club. Plus, CryptoLogic has unveiled new 50 and 100-hand variations of cutting-edge Bonus Video Poker games, including Tens or Better, Jacks or Better, Deuces Wild, All American, Double Bonus, Super Jackpots, and Joker Poker, which includes a paytable that offers the highest returns for this game anywhere online!

Players can enjoy all the new games today at these WagerLogic licensees: intercasino.com, williamhillcasino.com, and littlewoodscasino.com.

"Our licensees rely on new games to keep their Internet casinos fresh and exciting," added A.J. Slivinski, WagerLogic's Managing Director. "This latest suite offers something for every online player."

[Newsflash]

19.01.2007

CryptoLogic Enters Asian Market in Milestone Development

CryptoLogic, Brilliance Technology Co. and 568 Network Inc. to join forces through development, licensing pact

SINGAPORE, SINGAPORE, Jan 19, 2007 (CCNMatthews via COMTEX News Network) -- CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming industry, has signed a Memorandum of Understanding with Brilliance Technology Co. ("Brilliance") and 568 Network Inc. ("Game 568") to penetrate the high growth, high potential Chinese market, including China, Macau, Taiwan and Hong Kong.
The three companies will jointly establish a new company in China to adapt CryptoLogic's online casino and poker games to the Chinese market and develop new poker and casual, skill-based games that are more familiar to players in those areas. Brilliance will establish a division to deliver the games in two modes: "play-for-fun" sub....ions for users in internet cafes and on mobile devices, and "play-for-money" through sites licensed by China Welfare Lottery, the nation's gaming licensing authority.

Cryptologic's investment will initially be a minority interest in the new company, with an option to increase its investment to a controlling position. Cryptologic will have the right to appoint all members of the board of the new company. No financial terms were disclosed.

"This is the first major step in executing one of our cornerstone strategies: to expand in Asia - a key growth market for CryptoLogic," said Lewis Rose, CryptoLogic's president and CEO. "The agreement brings to CryptoLogic substantial game development and IT skills uniquely suited to the Asian gaming market, and provides well-placed resources in China to guarantee that our first steps are successful ones."

Brilliance is a software developer and systems integrator in China, with products that have been awarded various levels of certification by Chinese state agencies. Brilliance also has a proprietary payment processing system which every year facilitates billions of dollars in transactions for the four largest banks in China. Brilliance will enter into an exclusive licensing agreement with respect to the new company's online gaming software and service offering, and will apply for all required gaming licenses.

"There is a huge appetite for online gaming throughout Asia and this is the right group to penetrate the market quickly, deeply and legitimately," said Mr. Li Fu Hua, Chairman of Brilliance Technology Co. "CryptoLogic's award-winning online game offering will nicely complement our company's banking, payment processing and networking solutions that are already widely used throughout China."

Asia is quickly becoming the next major geographic area for online gaming. Industry experts expect Asia to be the fastest growing and ultimately the largest online gaming market in the world. China alone has over 135 million Internet users, the world's second largest user group after the United States. In addition, China has the world's largest mobile phone market with more than 400 million subscribers, many of whom are expected to switch to the high-speed 3G networks over the next few years, creating the opportunity for explosive growth for game and content developers. Brilliance intends to use its relationships with the major service providers to license the new company's casual game content to their subscribers.

"CryptoLogic recognized early that Asia's e-gaming market has vast potential for profitable growth, and we've quickly established a strong position here," said Shailesh Naik, Managing Director of CryptoLogic Asia-Pacific. "With these experienced and respected partners and CryptoLogic's global reputation for innovation, we're poised to make an impact not just in China - but across the continent."

Game568, headquartered in Markham, Ontario, Canada, is a game developer, publisher and operator with a Chinese subsidiary already creating games for that market, including card games such as "Fight Landlord" and "Za Jin Hua", and skill-based casual games such as "Lian Lian Kaan" and "Dragon Ball". Game 568 has a license from China Welfare Lottery, and has a database with more than one million registered players in the portals that it owns and those it operates for other developers.

"Our software engineering expertise in Shanghai and our existing Asian game roster, combined with Brilliance's IT leadership position in China and CryptoLogic's unmatched casino and poker game suite will give this partnership a decisive leadership edge in Asia," said William Cheng, Vice-President-China Operations for Game 568.


About Brilliance Technology Co.

The Brilliance group, headquartered in Beijing, China, is a nationwide supplier of software, computer system integration consulting services, project management and payment processing systems. Brilliance has over 400 employees in 5 major cities around the country. The company has software research and development sites in Beijing and Nanjing, and sales and service offices in Shanghai, Qingdao and Guangdong. More than forty of its products have been awarded various levels of certification by the Chinese Ministry of Information Industry, the Beijing Science and Technology Committee, and other state agencies. Brilliance was selected as a Top 100 Software Enterprise by the Ministry of Information Industry and it is approved by the ISO9001:2000 international quality management system.

About Game 568 Network Inc.

Game 568 was founded in September 2004 in Markham, Ontario, Canada. Its primary business is designing, distributing and publishing online games worldwide. The company has a technology development subsidiary in Shanghai, which manages all of Game 568's products and R&D projects.

[Newsflash]

23.01.2007

PlayboyGaming.Com, Parbet and Betsafe Launched on CryptoLogic-Developed Poker Network

TORONTO, ONTARIO, Jan 23, 2007 (CCNMatthews via COMTEX News Network) -- CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming industry, launched three new brands last week on its WagerLogic subsidiary's European-focused poker network: the eagerly anticipated PlayboyGaming.Com, and two of Scandinavia's most popular poker sites, Parbet.com and Betsafe.com.
"The launch of these sites demonstrates CryptoLogic's commitment to players in Europe and other key global markets outside the US to continue to build on a highly liquid platform through exciting, high-growth gaming brands," said AJ Slivinski, WagerLogic's Managing Director. "We welcome PlayboyGaming.Com, Parbet and Betsafe to our growing poker roster."

"The launch of these three sites in January brings to five the number of new poker sites that have joined our poker network since December, and demonstrates CryptoLogic's success in aggressively pursuing new non-U.S. licensees for the network-already one of the world's largest. These players now have access to the increased liquidity and market-leading game innovation offered on the CryptoLogic-developed network," said Lewis Rose, CryptoLogic's President and CEO.

CryptoLogic's software will power the Playboy Internet poker site for three years on an exclusive basis, and will target non-US markets only. Similarly, the CryptoLogic-developed network will be the exclusive engine behind Betsafe Poker for three years. CryptoLogic recently announced purchase and licensing agreements with third parties with respect to the Parbet brand and poker assets, both of which closed last week.

The PlayboyGaming.Com site will offer unique 'money can't buy' promotions for players, including PlayboyGaming.Com merchandise and invitations to special events, such as trips to the legendary Playboy mansion. It brings a new dimension to this global brand that already markets 21 local editions of its magazine, provides wireless content in 30 countries and offers Playboy-branded products in more than 25,000 retail outlets around the world. The Playboy name and brand also brings substantial marketing power to further enhance the poker network's overall liquidity.

"Both Parbet and PlayboyGaming.Com reflect our strategy to better control the success of the online gaming properties using our software," added Rose. "With Parbet, we own the brand, database and related assets and with PlayboyGaming.Com, our group will provide marketing support services, as we have so successfully done for the InterPoker and InterCasino brands."

Through the new sites, Scandinavian and European players and others can now reap the benefits of a highly liquid, safe, secure gaming environment.

[Newsflash]

05.02.2007

CryptoLogic Takes Industry's Top Honours for World-Class Casino Software

Top Casino Software Award based on votes from hundreds of thousands of players

TORONTO, ONTARIO, Feb 5, 2007 (CCNMatthews via COMTEX News Network) -- For the second consecutive year, CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP) has captured Gambling Online Magazine's Top Casino Software Award. The award, based on the votes of readers, players and website visitors, is widely recognized as the industry's top honour. CryptoLogic was recognized for its "state-of-the-art" casino gaming software, exclusive gaming concepts and outstanding player security delivered through its wholly-owned subsidiary, WagerLogic Limited.
"At CryptoLogic, we know what players want, and transform those desires into the ultimate online entertainment experience," said Lewis Rose, CryptoLogic's President and CEO. "CryptoLogic's strategy is to deliver the most innovative gaming software to an exclusive list of trusted, international customers - and the Top Casino Software Award shows our approach is paying off in spades. It's yet another competitive advantage for our customers - and our business."

Internet casino software continues to be CryptoLogic's core business, accounting for almost 60% of the company's revenue in the first three quarters of 2006. CryptoLogic continues to benefit from its significant investments in player research, competitive benchmarking and exclusive partnerships with top entertainment brands including Bejeweled and Cubis.

With more 260 games, CryptoLogic has one of the most comprehensive casino gaming suites on the Internet. In 2006 alone, the company introduced many first-to-market innovations, including the first-ever online version of Texas Hold'Em Bonus Poker, a wildly popular game that combines the popularity of poker with the excitement of a casino card game. CryptoLogic also delivered the exclusive online slot version of Cubis, the award-winning, visually stunning 3D puzzle game.

"CryptoLogic offers a superior gaming experience with more excitement, more innovation and more chances to win," said Justin Thouin, CryptoLogic's Vice President, Casino. "We are the only casino software provider to offer an interactive floor. And our authentic card and table games, multi-player options and interactive chat deliver great games and great experience for any player - anytime."

CryptoLogic also offers the industry's best jackpot offering, including its patented Millionaires Club® which boasts the highest jackpot in online history, and its Rapid Fire slot games which continues to pay out more often than any other online slot.

CryptoLogic has earned accolades for its pioneering online gaming software from industry and players alike. The company was chosen as the Top I-Gaming Software Provider at the 2006 UK Gambling Awards for both casino and poker, and Allonlineslots.com rated three of CryptoLogic's slots in the top seven of the year.

"Being recognized with the Top Casino Award makes it clear that CryptoLogic continues to deliver the games players want to play," added A.J. Slivinski, WagerLogic's Managing Director. "CryptoLogic's software innovations help drive player activity, develop more satisfied customers and increase player traffic - all of which leads to enhanced profitability."

[Casinonews]

09.02.2007

Dutch Government-Owned Internet Casino and Poker Room to Use CryptoLogic Software
Holland Casinos entscheiden sich für Cryptologic

CryptoLogic is awarded exclusive contract by Holland Casino-The Netherlands' government licensed casino operator

AMSTERDAM, THE NETHERLANDS, Feb 9, 2007 (CCNMatthews via COMTEX News Network) -- CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming market, has announced an exclusive three-year licensing contract to provide both poker and casino software for Holland Casino - the Dutch government licensed casino operator in the Netherlands. The new site, run by Holland Casino on behalf of the Dutch government, is expected to launch in June 2007, and will be available to residents of the Netherlands only.
"At CryptoLogic, we're focused on strengthening our competitive advantage in Europe, and our new relationship with Holland Casino achieves this - in spades," said Lewis Rose, CryptoLogic's President and CEO, who was in Amsterdam for the signing. "By adding a government controlled casino operator to our blue-chip roster of customers, we have an excellent template for other governments interested in realizing the benefits of safe, secure and regulated Internet gaming."

The agreement, made through CryptoLogic's wholly-owned subsidiary, WagerLogic Limited, reflects CryptoLogic's commitment to working with large, trusted, blue-chip casino operators. This agreement is subject to certain ratification, including by the Dutch government authorities and the Supervisory Board.

Holland Casino operates 14 land-based casinos across the Netherlands, including those at the popular tourist resorts Zandvoort, Valkenburg and Scheveningen. Since its first land-based casino opened in the Netherlands in 1976, Holland Casino has experienced several large expansions, including the addition of city-centre casinos in Amsterdam, Rotterdam, Breda, Nijmegen and Groningen.

"As we take Holland Casino online, we needed a quality partner who could support us with innovation and integrity - and CryptoLogic exceeded our expectations," said Ron Goudsmit, Holland Casino's Vice-President Business Development. "We're excited to develop and launch our online gaming site, which includes a comprehensive responsible gaming program, with a respected provider who can deliver a unique experience to our customers."

Holland Casino will join other top gaming sites using CryptoLogic-developed software. These include William Hill, InterCasino, Interpoker, Playboy Gaming, ukbetting, Littlewoods Gaming, DTD Poker, Betsafe, Parbet Poker and Extreme Poker.

CryptoLogic has introduced almost 100 casino games since 2004, including first-to-market innovations such as Hold'Em Blackjack, a combination of blackjack and poker that has quickly become a player favourite. The company has also introduced the exclusive online slot version of Cubis®, one of the world's most popular 3D puzzle games, amongst many others. CryptoLogic recently won Gambling Online Magazine's Top Casino Software Award for the second consecutive year. The award is based on votes cast by readers, players and website users.

"Players in Holland can now enjoy poker and casino games on the Internet in a safe, secure and regulated gaming environment using our software" said AJ Slivinski, WagerLogic's Managing Director.


About Holland Casino

Holland Casino, first licensed by the Dutch Government in 1975, operates fourteen successful land-based casinos in the Netherlands. For information on Holland Casino, visit www.hollandcasino.com.

[Casinonews]

14.02.2007

CryptoLogic Declares Quarterly Dividend

TORONTO, ONTARIO, Feb 14, 2007 (CCNMatthews via COMTEX News Network) -- CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming market, announced today that its Board of Directors has declared the company's quarterly dividend of US$0.12 per common share. The dividend will be paid on March 15, 2007 to shareholders of record as at March 8, 2007. The ex-dividend date will be March 6, 2007.

[Casinonews]

15.02.2007

CryptoLogic Achieves Strong Revenue, Earnings in 2006

2006 revenue, earnings and earnings per share grow more than 20% despite challenging Q4 Recent events include eight new customer sites, 40 new games, acquisition & Asian expansion

TORONTO, ONTARIO, Feb 15, 2007 (CCNMatthews via COMTEX News Network) -- ALL FINANCIAL FIGURES ARE IN US$
CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming industry, today reported record annual financial results for the year ended December 31, 2006. The company grew both revenue and earnings by 21% to $104.0 million and $24.8 million, respectively. Earnings rose to $1.81 per fully diluted share, a 24% increase over 2005. CryptoLogic ended the year with $128.4 million in total cash.

CryptoLogic's strong results and new customer acquisitions follow a time of significant change for the industry. On October 13, 2006, the United States government passed legislation that effectively banned online gaming in that country. CryptoLogic had already ensured that its licensees would not take wagers from U.S.-based players. The short-term impact of this event on the company's revenue and earnings was heightened as it occurred in the fourth quarter, which is historically the strongest quarter of the year. Since the company's business was substantially focused in Europe before the legislation, the impact of its passage on CryptoLogic was much less serious than it was for many competitors.

"While 2006 was a challenging year for the industry, it was another record year for CryptoLogic - and we enter 2007 with both focus and momentum," said Lewis Rose, CryptoLogic's President and CEO. "We've launched five new customer sites since December, and have three more in the queue - including two for Holland Casino, CryptoLogic's first government-owned customer. With our largest licensees on long-term agreements, and modest revenue expected this year from our new Asian venture, CryptoLogic is poised for long-term growth in the European markets of today -- and the Asian markets of tomorrow."

CryptoLogic's Q4 2006 results were in line with the company's estimates for the quarter with $19.0 million of revenue and $1.7 million in earnings, or $0.12 per share (after deducting an after-tax $1.0 million non-recurring charge, or $0.07 per share, related to reorganization costs for the proposed establishment of CryptoLogic's new executive headquarters in Ireland).

Mehr dazu siehe CryptoLogic Achieves Strong Revenue, Earnings in 2006

[Casinonews]

26.03.2007

CryptoLogic Extends 'Marvelous' Relationship With the Hulk, Daredevil, Ghost Rider and Others

Leading software developer and Marvel Entertainment, Inc. extend exclusive licensing agreement to 2010

TORONTO, ONTARIO, Mar 26, 2007 (CCNMatthews via COMTEX News Network) -- CryptoLogic Inc.(TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet casino gaming market, announced the extension of its exclusive licensing agreement with Marvel Entertainment, Inc., one of the world's premier character-based entertainment companies. CryptoLogic will remain the sole, worldwide developer of Marvel-branded Internet casino games through 2010.
"CryptoLogic's success is built on our strong relationships with the world's most trusted entertainment brands - and Marvel is one of the best brands to showcase our unique casino product," said Lewis Rose, CryptoLogic's President and CEO. "CryptoLogic's action-packed Super Hero™ themed casino games deliver exciting play, stunning visuals and a competitive edge for our customers. We're building player loyalty by providing a superior entertainment experience."

Since 2005, CryptoLogic has launched more than 10 slot games featuring Marvel's amazing characters - including the Hulk, Daredevil, X-Men, Blade and the Punisher - at some of the world's top Internet casinos. The Thor slot incorporates heavy-hitting animation that summon the thunder god's mighty hammer, while Silver Surfer's stunning visuals enable players to fly through galaxies of bonuses - for as little as 5 cents.

Through CryptoLogic-developed software, players can also help Iron Man shatter skyscraper windows to unlock hidden bonus gems, back Ghost Rider as he drives through a spooky scrap yard to help trapped innocents, or bet on Elektra as she faces off against enemy ninjas. Starting in June, fans of Marvel will also be able to join forces with Wolverine and Captain America, and enjoy the smashing animation of the Hulk slot game sequel.

"CryptoLogic continues to deliver unique gaming concepts that are totally in tune with today's players," said AJ Slivinski, WagerLogic's Managing Director. "From outstanding bonus features to breathtaking graphics, sound and animation, CryptoLogic is strengthening its competitive edge - and offering some of the most innovative entertainment available on the Internet today."

[Casinonews]

02.04.2007

CryptoLogic Appoints New CEO
Javaid Aziz brings 30 years of technology management, having served as chief executive of IBM UK

TORONTO, ONTARIO, Apr 2, 2007 (CCNMatthews via COMTEX News Network) -- ALL FIGURES IN US$
CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming industry, today announced the appointment of Javaid Aziz as the company's President and CEO. Aziz, with 30 years of diversified international experience in the information technology industry, served as chief executive of IBM United Kingdom Ltd. and went on to found Aspective Ltd., a leading wireless application service provider and consulting firm.

In September 2006, CryptoLogic announced that it will establish its new global headquarters in Dublin, Ireland. This will ensure management is closer to the majority of its business clients in Europe, an environment where gambling regulation is embraced, and closer to corporate opportunities. CryptoLogic plans to hold a special meeting of shareholders in May to approve the reconstitution of the company into a United Kingdom company resident in Ireland, whose shares will be listed on the TSX, NASDAQ Global Select Market and the London Stock Exchange.

Lewis Rose, the company's CEO since July 2002, has assisted in the transition and is an advocate of the move to Ireland as the next logical step in CryptoLogic's evolution. At the time of the September 2006 announcement, Rose announced his intention to step down as CEO because of family commitments, effective upon the hiring of the new CEO.

"As the pioneer and leader of the global e-gaming software industry, CryptoLogic is one of the world's great technology success stories," Aziz said. "No matter where you go, CryptoLogic's brand is synonymous with integrity, innovation and financial performance. I'm excited to lead the CryptoLogic team as we set a course for continued growth and expansion in the U.K., Europe and Asia."

Aziz brings impressive experience in leading an advanced technology business. Between 1975 and 1995, he held positions of increasing responsibility at IBM, ascending to the rank of chief executive for the United Kingdom. Following four years as senior vice president of Silicon Graphics, Aziz founded Aspective in 1999 and sold it in 2006 to Vodafone Group Plc, the global mobile phone and technology company.

"In Javaid Aziz, CryptoLogic has chosen an experienced leader in both the management of an innovative technology company - and a global business based in Europe," said Robert Stikeman, CryptoLogic's Chairman. "Lewis Rose has laid an excellent foundation - and we're confident Javaid will build on this success."

Aziz succeeds Rose, under whose leadership CryptoLogic consistently achieved new records in revenue and earnings. He led the company's entry into the Internet poker industry and built one of the top revenue-generating poker networks in the world, and created the most innovative casino offering in the industry. Recognizing the regulatory uncertainty in the U.S. e-gaming market, Rose successfully shifted CryptoLogic's business to Europe. He built new and enduring partnerships with many of the world's blue-chip gaming and entertainment brands, including William Hill, and more recently, Playboy and Holland Casino. Rose also established CryptoLogic's first presence in Asia, grew revenue from $34 million in 2002 to more than $100 million in 2006, and grew the company's market capitalization from CDN$92 million in 1992 to CDN$400 million today.

"Working with the outstanding people at CryptoLogic has been one of the major highlights of my career," Rose said. "Together, we've taken a young, entrepreneurial company and transformed it into a business that's built to last, built to grow and built to win. With an outstanding new CEO, supported by the management team that I've been privileged to lead, CryptoLogic is set for success in the hottest e-gaming markets of today and tomorrow."

There is no additional information which requires disclosure under paragraph 9.6.13R of the London Stock Exchange Listing Rules.