(Click Here for the Latest Online Poker News Stories)

Copyright 2004 Business Wire, Inc.
Business Wire

September 27, 2004 Monday

DISTRIBUTION: Business Editors

LENGTH: 844 words

HEADLINE: CryptoLogic Engages Poker Expert to Continue Poker Growth

DATELINE: TORONTO, Sept. 27, 2004

BODY:

   ALL DOLLAR AMOUNTS IN US$

    Steve Morrow's online and land-based gaming experience an asset to dedicated poker team

    CryptoLogic Inc.(TSX:CRY) (NASDAQ:CRYP) (LSE:CRP), a leading software developer to the global Internet gaming market, announced the engagement of Steve Morrow of Paradigm Poker Consultants as a consultant to assist in the design and development of the product plans for online poker. Morrow's extensive expertise in both land-based and online poker will help the CryptoLogic group continue to capitalize on the rising popularity of poker, one of the fastest-growing segments of Internet gaming around the world.

    "In a short time, our licensees' central poker room has grown to be the fourth highest revenue generating room on the Internet, and Steve Morrow will help CryptoLogic continue this exciting momentum," said Lewis Rose, CryptoLogic 's President and CEO. "Steve's considerable experience and track record in poker will be a tremendous asset as CryptoLogic continues to invest in its poker strategy."

    Morrow has 15 years of poker experience. He has directed both the largest land-based tournament, the 2002 World Series of Poker, and the largest online tournament, the 2002-03 World Championships of Online Poker. Morrow has worked with some of best-known names in the gaming industry and helped them build highly profitable businesses.

    With his extensive knowledge of tournament formats and poker gaming, Morrow will lead further development in the company's online poker offering including emphasis on large scale tournament structures that drive increased player traffic and larger cash prizes as well as enhanced customer support capabilities. He will provide valuable guidance to CryptoLogic and its dedicated poker team, which now represents almost 20% of the company's development group.

    "CryptoLogic is the blue chip company in the world of Internet gaming software - an organization known for profitability, integrity and innovation,"
Morrow said. "This year, CryptoLogic has moved into a position of global leadership in Internet poker, and my job is to help build on their work - and their success."

    Poker is a major growth area for CryptoLogic, which has grown rapidly to account for 15% of the company's revenue in the first half of 2004. The company continues to strengthen its position in online poker with steady growth in its poker licensees and new investment in its product offerings and system scalability. CryptoLogic-developed poker software has earned the confidence of the world's top gaming brands. The company's licensees' central poker room now ranks number four on the Internet in today's $1 billion online poker market, according to PokerPulse.com, an independent research site.

    About CryptoLogic(R) (www.cryptologic.com)

    Focused on integrity and innovation, CryptoLogic Inc. is a leading software development company serving the global Internet gaming market. The company's technologies enable secure, high-speed financial transactions over the Internet.
CryptoLogic continues to develop state-of-the-art Internet software applications for both the electronic commerce and Internet gaming industries. WagerLogic Limited, a subsidiary of CryptoLogic, licenses its gaming software and services to customers worldwide. For more information on WagerLogic(TM), visit www.wagerlogic.com.

    CryptoLogic's common shares trade on the Toronto Stock Exchange (symbol:
CRY), on the Nasdaq National Market (symbol: CRYP), and on the Main Market of the London Stock Exchange (symbol: CRP).

    CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:

    Statements in this press release which are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on licensees and key licensees, risks relating to international operations, risks associated with competition and other risks detailed in the Company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements.

CONTACT: CryptoLogic
Nancy Chan-Palmateer
Director of Communications
(416) 545-1455
OR
Argyle Rowland
Daniel Tisch
(North American media)
(416) 968-7311 ext. 223
dtisch@argylerowland.com
OR
Argyle Rowland
Melissa Chang
(North American media)
(416) 968-7311 ext. 239
melissa@argylerowland.com
OR
Financial Dynamics
Juliet Clarke
(UK media)
+ 44 20 7831 3113
juliet.clarke@fd.com
OR
Financial Dynamics
Edward Bridges
(UK media)
+ 44 20 7831 3113
edward.bridges@fd.com

URL: http://www.businesswire.com

(Click Here for the Latest Online Poker News Stories)