Chartwell Technology Inc.

[Casoni]

29.06.2001

CHARTWELL TECHNOLOGY ANNOUNCES SECOND QUARTER RESULTS


Chartwell Technology Inc. CWH


Calgary, Canada June 29, 2001, Chartwell Technology Inc. (CDNX: CWH.V) a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, announces results for the three- and six- month periods ended April 30, 2001.


Revenues for the six-month period were $1,044,355, an increase of 125% over the corresponding period of the previous year. Second quarter revenues of $601,817 were a 36% increase over the preceding quarter. The majority of revenues were generated by our subsidiary company, Chartwell Games Corp. through software licensing and development fees. Second quarter expenses were $867,348 representing a decrease of 17% from the preceding quarter. The majority of these expenses related to research and development.


Chartwell posted a loss of $862,000 for the period compared with a loss of $1,034,912 in the corresponding period of the prior year. The quarterly loss of $265,531 was a 45% reduction of the loss in the preceding quarter. As in previous quarters, a significant portion of our loss for the period represents an investment in software development. Expenses related to software development are not capitalized. Working capital at the end of the period was $7,218,986.


“Our year on year and quarter on quarter revenue growth reflect the maturing of our business plan from the pure development phase to the commercial application and market development phases”, commented Darold H. Parken, President and CEO. “Although we are pleased with these numbers we remain keenly aware that near term profitability is our ultimate goal for the year”.


During the second quarter Chartwell continued its focus on product development together with an expansion of our marketing and market development efforts. During the quarter significant development advancements were made in version 3.0 of our Java Gaming software which has just been released and in our revolutionary new Flash Gaming software which will be released during the summer.


Our continued dedication to development, evidenced by our Flash and Java v3.0 Online Gaming software releases have reaffirmed our position as the leading supplier of in-browser software to the Internet gaming and entertainment industries.


Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet. Chartwell’s Java and Flash based software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell’s team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support.


Chartwell invites you to preview and play our games at: www.chartwelltechnology.com


For further information, please contact: Chartwell Technology Inc.


Darold H. Parken, President

(877) 261-6619 or (403) 261-6619

[Casoni]

13.08.2001

CHARTWELL GRADUATES TO TIER 1 ON CDNX


Chartwell Technology Inc. CWH.V


Calgary, Canada August 13, 2001, Chartwell Technology Inc. (CDNX: CWH) is pleased to announce that it has received approval from the Canadian Venture Exchange (CDNX) to move to the Tier 1 classification and has by doing so established itself as a senior issuer on the Exchange.

Chartwell Technology Inc. specializes in the development of leading edge games and entertainment content for Internet and Intranet deployment by operators of interactive websites and virtual communities. Chartwell's software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications.

Chartwell invites you to preview and play our games at: www.chartwelltechnology.com.

For further information, please contact:
Chartwell Technology Inc.

[Casoni]

21.08.2001

ISLE OF CAPRI CASINOS, INC. SELECTS CHARTWELL TECHNOLOGY

Chartwell Technology Inc. CWH.V



Calgary, Canada August 21, 2001, Chartwell Technology Inc. (CDNX: CWH) is very pleased to announce that it has been selected as the online games supplier of Isle of Capri Casinos, Inc. ( Nasdaq: ISLE ) Isle of Capri Casinos, Inc. owns and operates 14 riverboat, dockside and land-based casinos at 13 locations and is the 7th largest publicly traded gaming company in the United States.



Chartwell has been selected to develop the Isle of Capri "Play for Fun" virtual casino (www.isleofcapricasino.com) as part of their corporate web presence and overall Internet strategy. The Isle of Capri customer loyalty program is built around its iGold program. Chartwell's suite of games will be available to all current and new iGold members, offering loyalty points for monthly prizes redeemable at any of their many properties. In addition the online casino will provide a forum for regular updates on property news and coming attractions, bringing the unique Isle of Capri Caribbean brand to the Internet.



"Our development agreement with Isle of Capri allows us to further demonstrate the promotional value of our software and our web development capabilities with a very unique gaming company." states Darold H. Parken, President and CEO of Chartwell. "Licensing our technology to a leading land based operator such as Isle of Capri, Casino Inc. is another significant achievement for our Company and provides a further endorsement of our software. We are delighted to partner with this industry leader and look forward to a long and profitable relationship."



Isle of Capri have recently enjoyed rapid growth and success among the Land based operators in the United States, this attributable to aggressive target marketing of the Isle of Capri brand and Caribbean theme. They are committed to building a complete entertainment experience for existing and potential customers through excitement, quality, service, value and fun. Chartwell is committed to delivering these same characteristics in the Isle of Capri Play for Fun Online Casino.



John M. Gallaway, President and Chief Operating Officer of the Isle of Capri Casinos, Inc. said, "The Isle places a high value on the use of cutting-edge technology in our industry, and Chartwell was able to develop a web program that matched our expectations. They have extensive knowledge in developing diverse and player-friendly programs, which is exactly what we want our customers to experience when visiting our iGold site."



About Isle of Capri Casinos, Inc.



Isle of Capri Casinos, Inc., with its unique "Isle of Capri" brand, has quickly grown to be one of the 10-largest publicly held gaming companies in the United States. The first gaming company to open in Mississippi in 1992, Isle of Capri Casinos, Inc. currently owns and operates riverboat, dockside and land-based casinos at 13 locations in Mississippi, Louisiana, Colorado, Iowa, Missouri and Nevada. The company also operates Pompano Park Harness Racing Track in Pompano Beach, Fla., and through a joint venture, the Enchanted Capri cruise ship, which features an Isle of Capri Casino, sailing from New Orleans.


Chartwell Technology Inc. specializes in the development of leading edge games and entertainment content for Internet and Intranet deployment by operators of interactive websites and virtual communities. Chartwell's software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications.

Chartwell invites you to preview and play our games at: www.chartwelltechnology.com.

For further information, please contact:
Chartwell Technology Inc.

[Casinonews]

01.10.2001


MOTOROLA HITS THE JACKPOT WITH WIRELESS CASINO GAMES FROM CHARTWELL TECHNOLOGY

Chartwell Technology Inc. CDNX: CWH

Chartwell''s casino games, including casino war, baccarat and slots, to be demonstrated

on Motorola multi-service mobile phones

LAS VEGAS, October 1, 2001 -- Motorola, Inc. (NYSE: MOT) and Chartwell Technology Inc. (CDNX: CWH.V) today announced plans to demonstrate casino-style games on Java™™ technology-enabled mobile phones from Motorola. Play for fun version of baccarat, slots and casino war will be used to showcase this exciting combination of new hardware and software designed to expand the entertainment frontier. Chartwell Technology''s games, will be demonstrated at the Global Gaming Expo (Booth #1004 -- October 1-3) and the World Gaming Congress (Booth #2419 and #3033-- October 17-19), all in Las Vegas.
Earlier this year, Motorola announced the Motorola i85s, i50sx and i55sr handsets, the first Java 2 Platform, Micro Edition (J2ME™™) technology-enabled mobile phones in North America. J2ME technology allows phones to be customized with business and entertainment applications to meet users' individual needs, while providing a rich user interface and portability across devices.

"We are excited to demonstrate casino games, for the first time, on Motorola wireless phones with Java technology," said Peter Aloumanis, vice president of Motorola and director of U.S. Market Operations for the company's iDEN® Subscriber Group. "This further illustrates the power of J2ME technology and the functionality of these multiple communication handsets. Chartwell's play-for-fun games demonstrate the richness of content these Motorola devices are capable of delivering."

Chartwell Technology specializes in the development of Java technology-based gaming software. Motorola's new generation of Java technology-enabled mobile phones represent an exciting new platform for wireless gaming entertainment.

"We are very proud to be working with Motorola in the development of our casino-style games for Java technology-enabled mobile phones," said Darold H. Parken, President and CEO of Chartwell. "The tremendous potential of our unique gaming software is readily apparent when playing on these fabulous new devices."

Developer Support Program

Motorola's iDEN developer support program provides developers with virtually everything they need to develop, deploy and commercialize their applications for J2ME technology-enabled handsets from Motorola, including tools, technical support, marketing, and distribution. For more information or to obtain a free CD-ROM, visit http://www.motorola.com/idendev.

About Motorola and iDEN

Motorola, Inc. (NYSE:MOT) is a global leader in providing integrated communications and embedded electronic solutions. Sales in 2000 were $37.6 billion.

iDEN handsets combine the capabilities of digital wireless phone with "always on" Internet access, text pager, and two-way radio to enable users to instantly communicate with one or hundreds of individuals at the push of a button. For further information on iDEN handsets, visit

http://www.motorola.com/iden

http://www.motorola.com/store/iden

Chartwell invites you to preview and play our games at: www.chartwelltechnology.com.

[Casinonews]

09.10.2001

CHARTWELL REACHES PROFITABILITY IN THIRD QUARTER

Chartwell Technology Inc. CDNX: CWH



Calgary, Canada October 9, 2001, Chartwell Technology Inc. (CDNX: CWH) a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, announces results for the three and nine month periods ended July 31, 2001.


The third quarter ended July 31, 2001 represents a significant milestone in Chartwell's development as our first profitable or break-even quarter. While we do not expect to show a profit for the fiscal year, our break-even quarter represents a validation of both our business plan and our unique business model. For any start-up technology company, the first break-even quarter marks a transitional point from a development focus to more of a product based business from which sustained growth and profitability can be achieved. Our business model precludes participation in the online gaming business of our clients.

Our development focus during the quarter centered on the expanded functionality of our administrative software to provide operators with more promotional and reporting tools. We also released the beta version of our new Flash casino games and Bingo product. Our Flash product is the next step in our plan to deliver the broadest selection of Internet platforms and access options which will be rounded out with the release of our Java download Casino product later this year.

Revenues for the third quarter were $928,663, an increase of 255% over the corresponding period of the previous year and a 54% increase over the preceding quarter. The majority of revenues were generated by our subsidiary company, Chartwell Games Corp. through software licensing and development fees. Expenses for the quarter were $926,911, an increase of 11% over the prior year and an increase of 7% from the preceding quarter. The majority of these expenses related to software development.

Chartwell posted a profit of $1,752 for the third quarter compared with a loss of $574,133 in the corresponding period of the prior year and a loss of $961,098 in the preceding quarter. Expenses related to software development are not capitalized. Working capital at the end of the period was $7,283,128.


Our objectives for the fourth quarter will be to release the commercial version of our Flash casino and bingo products and to continue the expansion of our customer base on which we expect to achieve a profitable fiscal 2002. We are confident that we will meet these objectives during the fourth quarter.

Our continued dedication to development, evidenced by our Flash and Java v3.0 Online Gaming software releases have reaffirmed our position as the leading supplier of in-browser software to the Internet gaming and entertainment industries.


Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet. Chartwell's Java and Flash based software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell does not participate in the online gaming business of its clients. Chartwell's team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support.

[Casinonews]

05.11.2001

CHARTWELL SIGNS EXCLUSIVE BIOMETRICS AGREEMENT WITH INROAD SOLUTIONS


Calgary, Canada November 05, 2001, Chartwell Technology Inc. (CDNX: CWH) announced today that it has signed an agreement with Inroad Solutions Inc. to rebrand and exclusively market Inroad's biometric user identification and authorization technology, the Aegis Secure Login. Chartwell will exclusively license this technology within the online gaming and games playing industries.


The agreement allows Chartwell to rebrand and integrate Inroad's unique biometric authentication application into its current gaming software applications. The Chartwell rebranded user identification technology will also be available to the entire gaming industry as a stand alone product. Currently known as Aegis Secure Login, the application monitors and records a person's keystroke patterns during the login process. The technology extracts a unique biometric pattern from the keystrokes as a means of uniquely identifying individuals over the internet. Unlike other biometric-based solutions, this keystroke technology does not require any specialized hardware.

"This unique biometric identification solution is a perfect complement to the Responsible Gaming functionality which Chartwell has developed over the past year", stated Darold H. Parken, President of Chartwell, "Chartwell's commitment to enabling the gaming industry to protect consumers having regard to commercial and technological practicability, is reflected in this exclusive licensing arrangement".

Biometrics are the foundation of identification solutions for the gaming industry and this unique keystroke method represents a solution which does not require any consumer hardware and which is not so intrusive as to limit consumer acceptance.

"Our biometric login technology was the first installment in our series of security applications that will provide additional layers of security over network environments including the Internet and Intranets", stated Anthony Bassett, Product Development Director of Inroads. "The login technology seamlessly integrates into authentication systems, and can eliminate the risk of unauthorized access to sensitive data even if the impostor has gained access to a valid username and password".

"We are immensely gratified to solidify a relationship with an industry leader like Chartwell who has consistantly demonstrated its commitment to fair and responsible gaming principles," Bassett added. "We view this agreement as a big step forward towards getting the identification technology into the marketplace to help address the concerns over responsible gaming, and issues regarding underage gaming".

About Inroad Solutions



Inroad Solutions (www.inroad.ca) is a software development company focused on providing Web-based biometric security products, as well as e-learning software and services. Inroad's keystroke technology is currently available for OEM or reseller licenses in all markets. Inroad is currently working with several top network and security companies to bring the biometric software to its customers around the world.




About Chartwell



Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet. Chartwell's Java and Flash based software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell does not participate in the online gaming business of its clients. Chartwell's team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support.

[Casinonews]

07.01.2002

C h a r t w e l l T e c h n o l o g y I n c .

PRESS RELEASE

CHARTWELL POSTS STRONG REVENUE GROWTH AND PROFITABILITY IN FOURTH QUARTER

Chartwell Technology Inc. CWH.V
Calgary, Canada January 7, 2002, Chartwell Technology Inc. (CDNX: CWH) a leading provider of gaming
and information systems for companies engaged in the Internet gaming industry, announces financial results
for the fourth quarter and fiscal year ended October 31, 2001.
The fourth quarter represents Chartwell’s second consecutive profitable quarter. Quarter to quarter revenue
growth was 36% and revenue growth for the fiscal year was 125%. While we did not show a profit for the year
as a whole, our loss for the year decreased by 68% over the prior year. After three years of dedicated
software development, Chartwell has turned the corner of profitability on the strength of our unique software
systems and development capabilities and our strong base of gaming industry clients.
3 Months Ended October 31
2001
$
2000
$
Revenue 1,259,336 694,951 +81%
Expenses 1,235,055 1,711,212 -28%
Net Income (Loss) 24,281 (1,016,212) +102%

Revenues for the fourth quarter were $1,259,336, an increase of 81% over the corresponding period of the
previous year and a 36% increase over the preceding quarter. The majority of revenues were generated by
our subsidiary company, Chartwell Games Corp. through software licensing and development fees.

Expenses for the quarter were $1,235,055, a decrease of 28% over the prior year and an increase of 33% from the preceding quarter. The majority of these expenses related to software development.

Chartwell posted a profit of $24,281 for the fourth quarter compared with a loss of $1,016,261 in the
corresponding period of the prior year and a profit of $1,752 in the preceding quarter. Expenses related to
software development are not capitalized. Chartwell enters this new fiscal year with a strong balance sheet
and well capitalized with working capital at the end of the period of $7,298,423.

Chartwell is unique in the online gaming software business. Our rigid adherence to the business principle of supplying leading edge technology and allowing our licensees total control of their business has resulted in a longer than expected drive to profitability. However, this fundamental business premise leaves us very well positioned to significantly expand our market share in the future of online gaming which demonstrates a clear shift to the sophisticated gaming operator who demands custom applications, integration and total control.

With Chartwell as a technology partner there is no restriction on how a gaming operator wishes to structure its business and there is no element of, or potential for, conflict of interest. Our business model precludes
participation in the online gaming business of our clients or otherwise.
Chartwell’s comprehensive software solution has been carefully tailored to meet the specific needs of the next generation of online gaming operators who look to set new standards for the industry.

An increased marketing effort in 2002 will focus on expanding our target market share and our geographic
penetration. Our corporate focus will remain the continuous development of new games and gaming systems to enhance the ability of our customers to maximize their profits while we introduce new responsible gaming functionality to address the developing regulatory environments and to reflect the high business standards of the new generation of online gaming operators whom we support.

Chartwell Technology Inc. specializes in the development of leading edge gaming applications and
entertainment content for the Internet. Chartwell’s Java and Flash based software products and games are
designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell does not participate in the online gaming business of its clients. Chartwell’s team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support.

Chartwell invites you to preview and play our games at: www.chartwelltechnology.com

For further information, please contact:
Chartwell Technology Inc.
Darold H. Parken, President
(877) 261-6619 or (403) 261-6619
[email protected]
David Bajwa, Investor Relations
(877) 669-4180 or (604) 669-4180
[email protected]

The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products, regulation of the online gaming industry, and other risks detailed from time to time in Chartwell's filings with the Securities & Exchange Commission. We assume no responsibility for the accuracy and completeness of these statements and are under no duty to update any of the forward-looking statements contained herein to conformthese statements to actual results. This is not an offer to sell or a solicitation of an offer to purchase any securities.

CHARTWELL TECHNOLOGY INC.
Consolidated Balance Sheets
October 31, October 31,
2001 2000
(unaudited)
Assets
Current assets:
Cash and cash equivalents $ 2,741,078 $ 8,793,474
Short term investments 3,350,007 -
Accounts receivable 1,200,036 143,753
Prepaid expenses 79,867 71,968
7,370,988 9,009,195
Available for sale long-term securities 42,882 42,882
Capital assets 303,392 327,745
Deferred software development costs 220,144 330,220
$ 7,937,406 $ 9,710,042
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable and accrued liabilities $ 59,897 $ 785,542
Current portion of obligations under capital lease 12,668 12,486
Deferred revenue - 299,789
72,565 1,097,817
Obligations under capital lease 13,446 17,363
Shareholders' equity:
Share capital 14,511,135 14,418,635
Deficit (6,659,740) (5,823,773)
7,851,395 8,594,862
$ 7,937,406 $ 9,710,042
CHARTWELL TECHNOLOGY INC.
Consolidated Statements of Income (Loss) and Deficit
(unaudited)

Three months ended October 31, Year ended October 31,
2001 2000 2001 2000

Revenue:
Software set-up fees $ 877,146 $ 436,329 $ 1,928,696 $ 909,902
Software license fees 284,873 (28,583) 908,876 172,463
Interest and other 97,317 287,205 394,782 338,924
1,259,336 694,951 3,232,354 1,421,289

Expenses:
Software development and support 527,431 504,477 2,013,601 1,291,899
General and administrative 883,394 1,107,375 2,065,710 2,523,572
Gain from extinguishment of debt (242,512) - (242,512) -
Depreciation and amortization 39,223 68,654 121,446 121,050
Amortization of deferred software
development costs 27,519 30,706 110,076 110,074
1,235,055 1,711,212 4,068,321 4,046,595
Net income (loss) 24,281 (1,016,261) (835,967) (2,625,306)
Deficit, beginning of period (6,684,021) (4,807,512) (5,823,773) (3,198,467)
Deficit, end of period $ (6,659,740) $ (5,823,773) $ (6,659,740) $ (5,823,773)
Net income (loss) per share: $ 0.00 $ (0.07) $ (0.05) $ (0.21)

CHARTWELL TECHNOLOGY INC.
Consolidated Statements of Cash Flows
(unaudited)
Three months ended October 31, Year ended October 31,
2001 2000 2001 2000
Cash provided by (used in):

Operations:
Net income (loss) $ 24,281 $ (1,590,394) $ (835,967) $ (2,625,306)
Depreciation and amortization 39,223 86,586 121,446 121,050
Amortization of deferred software
development costs 27,519 55,662 110,076 110,074
Deferred revenue (30,915) (123,014) (299,789) (123,014)
Change in non-cash working capital:
Accounts receivable (466,099) 1,096,186 (1,056,283) 150,150
Prepaid expenses 1,782 (5,495) (7,899) (5,495)
Accounts payable and accrued liabilities 29,034 123,878 (725,645) 437,737
(435,283) 1,214,569 (1,789,827) 582,392
(375,175) (356,591) (2,694,061) (1,934,804)

Financing:
Issue of shares - 1,447,500 92,500 1,447,500
Issue of special warrants - - - 10,075,000
Share and special warrant issue costs - - - (816,416)
Repayment of lease obligations 7,552 (229,155) (3,735) (230,375)
Long-term debt - (44,673) - (42,625)
7,552 1,173,672 88,765 10,433,084

Investments:
Purchase of short term investments (3,350,007) - (3,350,007) -
Purchase of capital assets (40,216) (175,372) (97,093) (314,715)
(3,390,223) (175,372) (3,447,100) (314,715)
Increase (decrease) in cash (3,757,846) 641,709 (6,052,396) 8,183,565
Cash, beginning of period 6,498,924 8,151,765 8,793,474 609,909
Cash, end of period $ 2,741,078 $ 8,793,474 $ 2,741,078 $ 8,793,474

[Newsflash]

26.02.2002

HORSESHOE GAMING SELECTS CHARTWELL TECHNOLOGY


Calgary, Canada February 26, 2002, Chartwell Technology Inc. (CDNX: CWH) is very pleased to announce that it has been selected as the online gaming technology partner of Horseshoe Gaming Holding Corp.; the largest privately held gaming company in the United States.


Chartwell has been selected to develop the Horseshoe Gaming "Play for Fun" online casino (www.horseshoe.com) as part of Horseshoe's overall Internet strategy. The Horseshoe Gaming customer loyalty program is built around its Winners Circle program. Chartwell's suite of games will be available to all current and new Winners Circle members.



"Our development agreement with Horseshoe reinforces the promotional value of our software and our web development capabilities with a very powerful gaming brand," states Darold H. Parken, President and CEO of Chartwell, "The Horseshoe brand and the name Jack Binion are inextricably linked with responsible gaming and quality entertainment in America and we are very proud to have been selected to help bring these qualities to the Horseshoe Gaming Internet presence".



Chartwell's custom gaming systems and unique business model are aimed at providing the most advanced technology tools to the most capable gaming companies to maximize the tremendous marketing and promotional capabilities of the online play for fun casino offering.



"Horseshoe is excited to be partnered with Chartwell in this extremely important Internet initiative," states Jon C. Wolfe, Senior Vice President and CIO of Horseshoe Gaming Holding Corp. "As two leaders in our respective industries, we believe the gaming experience created will be truly unique and consistent with the quality that Jack Binion delivers and Horseshoe customers have come to expect".


About Horseshoe Gaming: Horseshoe Gaming Holding Corp. operates the Horseshoe Casino and Hotels in Bossier City, LA, Tunica, MS and Hammond, IN. Horseshoe's state of the art properties and gaming facilities have made it a leader in the gaming industry. Horseshoe Gaming is committed to providing the finest in gaming activity, excitement and entertainment through its glamorous casino properties, luxury hotels, riverboat casinos and stylish entertainment venues.


About Chartwell Technology Inc. Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet and wireless platform. Chartwell's Java and Flash based software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell does not participate in the online gaming business of its clients. Chartwell's team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support.

[Newsflash]

19.03.2002

BET AND WIN GAMING GROUP SELECTS CHARTWELL TECHNOLOGY


Calgary, Canada March 19, 2002, Chartwell Technology Inc. (CDNX: CWH) is very pleased to announce that its wholly-owned subsidiary, Chartwell Games Corp. has been selected as the online casino software supplier to Simon Bold (Gibraltar) Ltd a wholly-owned subsidiary of Austrian based BetandWin Gaming Group (BWIN.VI).

This agreement, which resulted in the development of the Triple A Casino, www.triple-a-casino.com, allows members the opportunity to access and enjoy the entertaining gaming experience provided by Chartwell's full casino suite of no download Java games and our soon to be released suit of instant play Flash games.



With innovative web concepts and strong strategic partners, the BetandWin Gaming Group aims to become one of the leading international players in the online gaming industry, catering to a broad audience. With a player base of over 260,000 registered users at the end of 2001, BetandWin generated turnover of 62.3 million EUR compared to 17.3 million EUR from the previous year, positioning itself as one of the fastest growing online gaming operators in Europe.



"Our license agreement with BetandWin reflects our marketing focus on recognized gaming brands and our expansion within the European market," states Darold Parken, President and CEO of Chartwell, "We consider the European market to be a very significant contributor to both the future growth of Chartwell and the online gaming industry. The BetandWin Gaming Group is an exciting new gaming brand within this market and we are pleased to have been chosen as their technology partner".


About BetandWin.com

BetandWin Gaming Group is a public company based in Austria with its subsidiary Simon Bold (Gibraltar) Ltd. based and licensed in Gibraltar. The company's strategic concept is based on the pillars of betting, information and entertainment. Listed on the Vienna Stock Exchange under the symbol BWIN, BetandWin.com is using its unique Internet presence coupled with strong partnerships to become one of the world's leading online gaming companies.



About Chartwell Technology Inc.

Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet and wireless platforms. Chartwell's Java and Flash based software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell does not participate in the online gaming business of its clients. Chartwell's team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support.

[Casinonews]

09.05.2002

CORAL EUROBET SELECTS CHARTWELL TECHNOLOGY


C h a r t w e l l T e c h n o l o g y I n c .

Calgary, Canada May 9, 2002, Chartwell Technology Inc. (TSX-VEN: CWH) is very pleased to announce that its wholly owned subsidiary, Chartwell Games Corp., has been selected to design, construct and license an online casino for the Coral Eurobet Group, one of the world's leading bookmaking organizations.

"We are extremely proud to be associated with one of the most powerful betting brands in the world", states Darold H. Parken, President and CEO of Chartwell. "The Coral Eurobet Group represents the highest degree of professionalism and integrity within the sportsbetting business and to have our technology selected for their move into online casino gaming is a very significant achievement for our Company and endorsement of our business model."

Chartwell's unique custom gaming systems and business model are aimed at providing the most advanced technology tools to the most capable gaming companies and to facilitate their total control of every aspect of the online casino operations.

"Coral Eurobet is well placed to take advantage of the continuing growth in online gaming, and the launch of the Eurobet Casino is further proof of our ambitions in this sphere", said Lee Richardson, Chief Operating Officer.

About Coral Eurobet

Coral Eurobet is one of the world's leading bookmaking organizations. The group comprises Coral Racing, operating 870 retail betting shops in the UK, Coral Stadia which owns and operates two greyhound racing tracks in the UK, Coral Telebetting which provides instant betting on all major sports by debit card, seven days a week and Eurobet, which was the first company to accept bets over the Internet and now has active customers in over 100 countries through the Internet, WAP telephone and interactive TV platforms.

[Casinonews]

04.06.2002

CHARTWELL CONTINUES TO EXPAND EUROPEAN PRESENCE


C h a r t w e l l T e c h n o l o g y I n c .

Calgary, Canada June 4, 2002, Chartwell Technology Inc. (TSX-VEN: CWH) is very pleased to announce that its wholly owned subsidiary, Chartwell Games Corp., has been selected to design, construct and license an online casino for TURKBET, a wholly owned subsidiary of Wilson Sports and Racing, a well established traditional UK sports betting operator that caters to high stake punters. Turkbet operates traditional sports betting shops along with an interactive sports book site and land based casinos in Northern Cyprus.

"The Wilson Group are extremely experienced in the gaming industry and have a strong reputation for their integrity. We are confident that these characteristics will be keys to their success in the online casino business. We are very pleased to have been selected as their online gaming technology partner", stated Darold H. Parken, President and CEO of Chartwell. "Our unique business model and systems integration capabilities allows us to deliver complete custom gaming solutions which put our customers in complete control of their operations, something which was very important to the Wilson group and which we believe is the model for the future of the online gaming industry".

Chartwell has developed a unique integration module that allows a more complete linkage between the online casino and any existing operation such as an online sports book or land-based casino. This module deals with multiple points of integration including player registration, login, accounting, banking and loyalty programs.

The Wilson name has been synonymous with betting for over 25 years. Founder Mervyn Wilson built his initial chain of betting shops known as Surrey Racing. This later merged with Sports Internet, which in turn was taken over by BSKYB to form the backbone of the digital interactive betting service, offered on Sky TV in the United Kingdom.

"We carefully evaluated all of our options prior to selecting Chartwell as our casino software provider" states Mervyn Wilson, founder of Wilson Sports & Racing. "We were impressed by their versatile online gaming platform and the customized gaming systems development that Chartwell offers as our technology partner. Our aggressive growth plans necessitated a supplier with such attributes, and we look forward to a long-term relationship with them to expand our online strategy".

About Wilson Sports & Racing. Wilson Sports and Racing is a UK based sports betting operator with betting shops located in the UK that cater to high stake punters, and through its subsidiary Turkbet operates traditional sports betting shops along with an interactive sports book site and land based casinos in Northern Cyprus .

[Casinonews]

12.06.2002

CHARTWELL REPORTS INCREASED REVENUE

Calgary, Canada June 12, 2002, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of gaming and information systems for companies engaged in the Internet gaming industry, announces financial results for the three and six months ended April 30, 2002.

Total revenues for the second quarter of 2002 increased 44% to $865,810 compared to $601,817 in the same period of 2001. For the six months ended April 30, 2002, the Company's total revenues increased 22% to $1,273,153 compared to $1,044,355 for the prior year period. The Company's focus on attracting established gaming clients, particularly in Europe, has had a very positive effect on the recurring license fee component of total revenue. License fee revenue for the second quarter rose 243% to $538,403 compared to $157,185 in the same quarter of 2001. For the six months ended April 30, 2002, the Company's license fee revenue was $876,305 representing a 123% increase over the prior year period. Recurring revenue increased 59% on a quarter on quarter basis.

Expenses for the second quarter were up 65% to $1,434,034 compared to $867,348 in the same period of 2001. For the six months ended April 30 2002, expenses increased 37% to $2,618,223. The increases in expenses are attributed to continued development of the Company's casino gaming systems including the release of our newest Flash games. Higher expenses also reflect software development costs related to our new multiplayer games; bingo and poker for expansion into new gaming verticals, regulatory compliance related software development projects and R&D in the field of new games, systems and platforms to maintain the Company's lead in providing the most flexible software solutions available.

The loss for the period was $568,224 a decrease of 27% compared with our loss in the previous quarter. Chartwell ended the quarter with a strong working capital position of $ 6,130,496.

"We are beginning to see the results of our focused campaign to attract the larger, established gaming companies.", states Darold H. Parken, President and CEO of Chartwell. "As these clients continue to establish their brands online and as we continue add more established gaming clients, we anticipate strong growth in the recurring revenue component of our total revenue stream. The outlook for the remainder of 2002 remains very positive and our new development initiatives in the wireless and interactive TV areas represent tremendous potential for Chartwell's future."

[Newsflash]

10.09.2002


CHARTWELL CONTINUES TO EXPAND EUROPEAN PRESENCE

CHARTWELL REPORTS CONTINUED GROWTH IN 3RD QUARTER


Calgary, Canada September 10, 2002, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of gaming and information systems for companies engaged in the Internet gaming industry, announces financial results for the third quarter and the nine months ended July 31, 2002.



Total revenue for the third quarter of 2002 increased 20% to $1,117,939 compared to $928,663 in the same period of 2001. For the nine months ended July 31 2002, the Company's total revenues increased 21% to $2,391,092 compared to $1,973,018 for the corresponding period of the previous year.



"Consistent with our business strategy, during the quarter the company has continued to focus on attracting established gaming clients, primarily in Europe", states Darold H. Parken, President and CEO of Chartwell. " Steady growth in our market share and the recurring revenue component of our total revenue has resulted in an average 30% quarter on quarter revenue growth since entering the software development business. Our objective is to continue this trend."


Expenses for the third quarter were $1,131,736 compared to $926,911 for the corresponding period of the previous year. Expenses decreased $302,298 from the previous quarter. For the nine months ended July 31 2002 expenses were $3,749,959 compared to $2,833,266 in the corresponding period in the previous year. This increase is reflected in the continued development of our industry-leading choice of gaming options including casino, bingo and poker room games, now available in download, in-browser and wireless options giving an unprecedented level of access flexibility while using a wide range of currencies and languages. Consistent with our proactive expansion into new regulated markets, the Company has increased its compliance expenditures for its certification in these regulated markets. The loss for the quarter was $13,797 or $0.00 per share compared to $568,224 or $0.04 per share in the previous quarter. Working capital at the end of the quarter was $6,159,960.



"We are seeing continued growth in Europe with the opportunity to break into new verticals", states Darold H. Parken, "Poker, Bingo, and Wireless gaming are all new opportunities for revenue growth, both within our existing client base and with new licensees". "Our unique business model along with our dedication to software development and un-paralleled customer support enables our existing and future clients in Europe and other regulated markets to depend upon us as a truly independent technology partner with no potential conflict of interest".

[Newsflash]

28.10.2002

Chartwell Announces Release of Its Version 4.0 Online Gaming System


Calgary, Canada October 28, 2002, Chartwell Technology Inc. (TSX-VEN: CWH) is very pleased to announce it has set another benchmark in online gaming with the commercial availability of Version 4.0 of its no download casino gaming suite.

Driven by the client growth in new global markets, Version 4.0 of Chartwell's Online Gaming System provides unparalleled player reach through its multi-language and multi-currency capabilities. Adding further depth to Chartwell's extensive casino game suite, Version 4.0 introduces the new Red Dog and Casino War table games and the Cash Inferno 5 Reel Bonus Slots. Enhanced player game controls and game information supplement the superior game layouts and animation now available to players with Version 4.0.

"We are extremely excited about this new version of our Flash product and once again feel we are setting the standard for online browser-based gaming software", states Darold H. Parken, President and CEO.

In addition to the release of its Version 4.0 Online Gaming System, Chartwell Technology also announces the beta launch of its multi-player poker software. "This is an exciting opportunity for Chartwell to break into new gaming verticals", states Mr. Parken. "Our clients are seeing explosive growth in their online gaming businesses and an excellent compliment to their established player base is our multi-player poker suite". The poker suite contains five popular variations including Texas Hold'em, Omaha, and Omaha high/low, which are playable as ring games or in tournament mode. Ring game players have their choice of poker tables based on table limit, number of players, speed of play or a combination of these variations.

"The success of a clients online poker business is largely dependent on the operator having built a critical mass of players to draw from", continued Mr. Parken, "Our licensees are some of the largest brands in the gaming business and so our challenge was to deliver a product that not only provides a graphically satisfying experience but also is fast enough to accommodate a wide range of connection speeds while incorporating our industry driven administration tools and maintaining seamless integration of this product into our clients' existing infrastructure".


While Chartwell continues to develop and advance its leading edge software, exemplified by the release of the Version 4.0 Online Gaming System, the company is focused on breaking into new markets. Products such as multi-player poker, bingo and kiosk based gaming systems and the deployment of java-based games for the mobile phone market represent exciting future growth initiatives, ensuring that Chartwell will remain a premier software supplier to this rapidly growing industry.

[Newsflash]

06.03.2003

CHARTWELL REPORTS CONTINUED GROWTH

Calgary, Canada, March 6, 2003, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of gaming systems and entertainment content to the online gaming industry, announces financial results for the first quarter ended January 31, 2003 and fiscal year ended October 31, 2002.


First Quarter 2003 Results


Revenues: For the first quarter ended January 31, 2003, revenue rose 315% to $1,691,476 compared to $407,343 in the same period of 2002. License fee revenues rose 250% to $1,183,308 compared to $337,902 in the same prior year period. The balance of revenues were made up of software set up fees of $480,500 and interest and other revenues of $27,668.



Expenses: Expenses for the quarter rose to $1,343,863 compared to $1,184,189 in the same quarter of 2002. This 14% increase was attributed to higher software development costs relating to the Company's casino software as well as development of new bingo and poker software for expansion into new gaming verticals. Consistent with its expansion into new regulated markets, the Company also increased expenditures toward its eventual certification in targeted jurisdictions. General and administrative expenses for the quarter were $423,201, a decrease of 11% over the same period of the prior year.



Gain: The first quarter of 2003 was Chartwell's most profitable quarter to date with net income of $347,613 or $0.03 per share compared to a loss of $776,846 or $0.06 per share for the corresponding quarter of the prior year.



"Strong revenue growth from established gaming clients, particularly in Europe, continues to have a very positive effect on our financial performance," states Darold H. Parken, President and CEO of Chartwell. "Our mandate has been to deliver solid revenue growth across a core of branded customers and we are pleased to report that we are meeting those objectives." Mr. Parken adds, " Given that our recurring license fee revenues continue to increase as a component of total revenues and our firm control over expenses, we are confident in our goal of achieving profitability this fiscal year."



Fiscal Year 2002 Results



Revenues: Revenues increased to $3,737,994 for the year ended October 31, 2002, compared with $3,232,354 for the prior year an increase of 16%. Operating revenues consisted of software set-up fees and software licensing fees. Software licensing fees for the year ended October 31, 2002 were $2,646,766 compared to $908,876 in the prior year, an increase of 191%. Software set-up fees for the year were $789,197 compared to $1,928,696 in 2001, a decrease of 59%. Interest and other revenues for the fiscal year ended October 31, 2002 were $302,031, compared to $394,782 of the prior year.




Expenses: Expenses increased from $4,068,321 during the fiscal year ended October 31, 2001, to $5,169,276 in 2002. The software development component of expenses increased to $2,651,335 during the fiscal year ended October 31, 2002, compared to $2,013,601 for 2001, representing an increase of 32%, due to an expansion of our product offering. General and administrative expenses increased $234,147 (11%) from $2,065,710 during the fiscal year ended October 31, 2001, to $2,299,857 in 2002. Higher general and administrative expenses reflect increased sales and marketing efforts.



Loss: Net loss from continuing operations increased $595,315, from $835,697 during the year ended October 31, 2001 to $1,431,282 for the fiscal year ended October 31, 2002 ($0.11 per share).



Despite the challenges experienced by many of our competitors over the past year, Chartwell actually saw positive growth during 2002, with revenues increasing 16% over the previous year", states Mr. Parken. "An important indicator of our long-term potential is the substantial growth we achieved in the recurring portion of revenue," he continues. "We are pleased to report that recurring software license revenues now comprise approximately 70% of our total revenue stream." These recurring software license fees amounted to $2,646,766 in 2002 representing an increase of 191% over the previous year."



Throughout the last year Chartwell continued to invest in new products and platforms that will provide access to new gaming markets and add significant new revenue streams. Correspondingly, expenses during 2002 rose to $5,169,276 representing a 27% increase over the previous year. The largest single area of expense growth during 2002 was in software development, which rose by 32% due to the expansion of our programming team and the development of new gaming products and features.



New Products and Platforms



Chartwell was one of the first companies to provide a complete no-download casino suite with its first Java-based product. Since entering the market in 1999, Chartwell has continued to maintain its leading position in no-download technology with the release of its V4.0 Flash-based casino during the past year.



Chartwell will soon be launching its latest product initiative, multi-player poker. With a global poker player market numbering in the millions, Chartwell is poised to tap into this relatively new gaming revenue stream. "Many of our current licensees have a player base that is eager to try our latest product offering," states Darcy Krogh, Chartwell's Vice President of Business Development, "and we are now in the final stages of testing before rolling out this exciting new gaming product which includes five popular poker games with full tournament functionality."



Java-enabled wireless devices such as cellular phones are increasingly popular as gaming platforms and Chartwell has been a leader in bringing casino style games to this rapidly growing market. "As a follow-up to our earlier launch with a major cellular phone manufacturer, we are actively pursuing new deals that will bring our games to users of a multitude of Java-enabled handsets," states Mr. Krogh.



Chartwell will also soon be releasing the download version of its casino suite, which will give players the option of saving the client-side application to their computer desktop. "While this latest addition to our product portfolio is not revolutionary in concept, it was a logical step in rounding out our product offering to address all player preferences and platforms," states Mr. Krogh.



Looking Ahead



The 2003 International Casino Exhibition (ICE), held in London in January, was further confirmation of Chartwell's market strategy. ICE is one of the world's largest gaming industry trade shows where Chartwell's products and services garnered an unprecedented level of interest, fueled largely by a gaming friendly European market, and the much-anticipated regulation of the online gaming environment in the U.K. The ICE venue also allowed Chartwell to unveil its kiosk-based gaming system, which promises to provide access to new gaming channels and add considerable revenue streams in the months and years ahead.




Chartwell looks to continued growth of its branded client base and to deploying new games and features that it has invested in over the past year to achieve its objective of providing our clients with every game for every platform. Sales of our wireless gaming system will not only provide an additional revenue stream for the Company but will also enhance Chartwell's position as the leader in cutting edge technologies. Chartwell's Poker, Bingo and Kiosk gaming products offer many new market opportunities and are expected to be strong contributors to revenue growth.

[Newsflash]

16.04.2003

Victor Chandler Renews Software License Agreement


Calgary, Canada, April 16, 2003, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of complete gaming systems to the online gaming industry, is very pleased to announce that Victor Chandler (International) of Gibraltar has renewed its software license agreement for another term.


Originally announced in July of 2000, the Victor Chandler organization was one of Chartwell's first major European clients. Over the past 3 years Victor Chandler's casino gaming site www.thespinroom.com has become a hugely popular and successful online casino.


The initial licensing agreement with Victor Chandler was the start of a Chartwell pioneered concept allowing an existing online sports betting site to be seamlessly integrated with a unique, branded online casino system, which greatly expanded punter's gaming options without the need for two separate gaming systems.



"We are extremely pleased to continue what has been an excellent relationship with Victor Chandler, states Darold H. Parken, President and CEO of Chartwell. "Over the past three years we have witnessed the growing success of www.thespinroom.com with our original Java-based casino suite of games. With the evolution of our total gaming system during this period, we are confident that the Victor Chandler organization will be even more successful with our latest Flash-based gaming software which will be rolled out during this quarter."


The Victor Chandler Group is a global operation with customers in over 70 countries around the world. With headquarters in Gibraltar, the Victor Chandler Group is one of the world's premier online gaming operators and www.thespinroom.com is one of the world's premier online casinos.


In accordance with TSX Venture Exchange policy Chartwell also announces an unrelated payment of 25,000 common shares to Michele Marrandino for his general marketing and sales efforts in Europe.


Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet. Chartwell's Java and Flash based software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell does not participate in the online gaming business of its clients. Chartwell's team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support.

[Casinonews]

20.05.2003

SUPREME ODDS SELECTS CHARTWELL TECHNOLOGY

Calgary, Canada, May 20, Chartwell Technology Inc. (TSX-VEN: CWH) a leading developer of online gaming systems announces it has completed an agreement, through its wholly owned subsidiary Chartwell Games Corp. to design, develop and supply Supreme Odds Ltd. with its leading edge non-download flash based online gaming system.

Supreme Odds Ltd., a division of Leisure Spread Limited, is an Irish registered telephone and Internet gaming company established in March of 2000. With offices in Dublin, and the United Kingdom, Supreme Odds has quickly established itself as a major participant in the Irish sports betting community with a reputation for accepting higher than average bets at extremely favorable odds. To date the company has focused on its core market in Ireland and the UK with aggressive plans to go after new strategic markets.

"The unprecedented growth of the online gaming sector and the gaming friendly attitude of Europe has made the region a primary focus for Chartwell", states Darcy Krogh, Vice President of Business Development. "The addition of Supreme Odds Ltd., www.supremeoddscasino.com, to our European customer base is a welcome expansion of Chartwell's software in a new market and we are proud to be associated with their highly regarded gaming brand"

"Our decision to extend our online product range to include a casino was based partially on client feedback but also on the quality of the Chartwell platform" says Conor Foley, Managing Director, Supreme Odds. "Having evaluated a number of online casino providers we concluded that Chartwell was 'head and shoulders' above the rest in terms of functionality, security and reliability. It will fit in very nicely with our recently upgraded sports book website and as Ireland's first online casino we are very optimistic for its prospects."

[Casinonews]

12.06.2003

CHARTWELL ANNOUNCES RECORD REVENUES FOR 2ND QUARTER 2003

Calgary, Canada, June 12, 2003, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of gaming software systems and entertainment content to the online gaming industry, announces financial results for the second quarter ended April 30, 2003.

Revenue growth and profitability are the important characteristics of Chartwell's second quarter of operations, building on the strong revenue and profitability reported in the first quarter.

Total revenue for the second quarter 2003 increased 125% to $1,946,497 compared to $865,810 in the same period of 2002. Total revenues for the six months ended April 30 2003 increased 185% to $3,637,973 compared to $1,273,153 for the corresponding period of the previous year. License fee revenue for the second quarter 2003 totaled $1,576,740 compared to $538,403 for the same period of the previous year representing an increase of over 190%. For the six months ending April 30 2003 license fee revenue totaled $2,760,048 compared to $876,305, an increase of over 210% from the previous year.

Expenses for the second quarter 2003 totaled $1,793,634 which included a currency translation expense of $382,876 due to the strengthening Canadian dollar against its US counterpart. While revenues are not affected the Company incurred the currency translation expense due to a revaluation of its US monetary assets.

The net income for the period, after the currency translation expense, was $152,863 or $0.01 per share compared with a loss $568,224 for the corresponding period of the previous year. For the six months ending April 30 2003 the company's net income totals $500,476 or $.04 per share compared to a loss of $1,345,070 or ($0.09) per share for the same period in the previous year. Chartwell remains debt free and strengthened its cash position ending the quarter with working capital of $ 6,618,605.

"Our consistently strong revenue growth reflects the success which we have achieved by remaining true to our unique business model and by concentrating on the development of our unique gaming systems.", states Darold Parken, President and CEO. "This quarter marks an important milestone for the Company where license fee revenues exceed operational expenses achieving the initial profitability target which we will now build on. We look forward to continued revenue growth in future quarters as the company expands its European client base and deploys additional technologies such as it wireless gaming system and its multi-player poker and bingo products to provide additional revenue streams and corresponding profit for the Company".

For the balance of the fiscal year, Chartwell will continue to focus on specific innovative software development projects, responsible gaming functionality and further European market expansion. These are important components of Chartwell's plan for ongoing success and accelerated profitability.

[Casinonews]

07.07.2003

CHARTWELL APPOINTS NEW CFO


Calgary, Canada, July 7, 2003, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of gaming systems and entertainment content to the online gaming industry is pleased to announce the appointment of Mr. Don Gleason as Chief Financial Officer effective June 9, 2003.

Mr. Gleason, a CGA, joins Chartwell with seventeen years experience in the information technology industry, focused on financial management and business operations within both large multinational and smaller technology companies. During the past nine years Mr. Gleason led EFA Software in the development and execution of the company's financial plan where revenues grew from $2.6 million in 1996 to $40 million prior to Mr. Gleason successfully negotiating EFA's buyout by Basis 100. In addition to delivering EFA's financial roadmap, Mr. Gleason was instrumental in EFA's major financings, acquisitions and dispositions.

"Our history of software research and development combined with our focused marketing plan has now brought Chartwell to the targeted profitability point", stated Darold H. Parken, President and CEO of Chartwell. "The always dynamic and rapidly expanding gaming industry represents tremendous organic growth opportunities for Chartwell as well as significant diversification options through the development of new vertical markets. The addition of Don Gleason as CFO strengthens our overall management team and his particular expertise will be a valuable asset as Chartwell continues its growth with major business expansion plans, stronger revenues and profits."

Mr. Gleason has been granted an option to purchase 100,000 common shares. In addition, Mr. Dave Acorn, Vice President, Software Development and Mr. Don Harold, Vice President, Operations, have been granted options to purchase 50,000 and 25,000 common shares respectively. All of the options were granted pursuant to the Company's Stock Option Plan and have five year terms.

[Newsflash]

08.09.2003

CHARTWELL ANNOUNCES RECEIPT OF ALDERNEY CERTIFICATE OF PRIOR APPROVAL

Calgary, Canada, September 8, 2003, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of gaming software systems and entertainment content to the online and remote gaming industry, announces that the Alderney Gambling Control Commission has issued Chartwell a Certificate of Prior Approval. The Certificate of Prior Approval reflects the licensing jurisdiction's satisfaction with the results of a very extensive due diligence enquiry into Chartwell's business structure and its officers and directors.


"The Certificate of Prior Approval now provides Chartwell with the ability to confidently enter into negotiations with major gaming operators that seek the reputability and protection of the tightly controlled regulatory environment afforded by Alderney," states Darold H. Parken, President and CEO of Chartwell.


Mr. Parken adds, " We are experiencing significantly higher levels of interest, particularly in the European region, from brand name gaming operators and being able to provide them with this sort of complete corporate certification further enhances our position as their leading choice of software supplier".


Alderney is one of only a few jurisdictions that have created a framework for the licensing and regulation of interactive gaming. The Alderney Gambling Control Commission was established in May 2000. The Commission is independent and non-political and regulates gambling on behalf of the States of Alderney. The mandate of the Commission is to provide a regulatory environment that meets the highest standards and thereby both protects the reputation of Alderney and attracts world-class operations.


"For the gaming industry to fully develop, we believe that the playing public must have confidence not only in the gaming products themselves but also in the existence of a fair and responsible gaming environment. That confidence is created through a combination of reputable software suppliers, gaming operators and a high degree of player protection and gaming standards enforced by recognizable and creditable authorities. Chartwell's plans for continued success and growth within the industry are based upon our ability to offer our wide range of gaming products and platforms within highly regulated jurisdictions such as Alderney," adds Mr. Parken.