Cryptologic welcomes new UK law to regulate online gaming ALL DOLLAR AMOUNTS IN US$ Symbol: TSX: CRY; NASDAQ: CRYP; LSE: CRP TORONTO, April 8 /PRNewswire-FirstCall/ -- CryptoLogic Inc., a leading software developer to the global Internet gaming market, today welcomed the passage of the revised Gambling Act 2005 in the United Kingdom, one of the company's premier markets. The Act received Royal Assent yesterday and will enable the regulation of Internet gaming for the first time in the UK. "This new law marks a key milestone for online gaming - and we welcome the decision of the UK government to shine the light on the industry to allow it to thrive in a regulated and licensed environment," said Lewis Rose, CryptoLogic's President and CEO. "CryptoLogic has long advocated a regulated online gaming market - for the protection of players and the integrity of the industry. We applaud the UK for taking the lead in establishing world-class standards for the safe, secure and responsible use of this form of entertainment." Now that the Act has become law, there remains considerable work to be done to fully define the legislation. The next step is for the new Gambling Commission to be established. The rules and regulatory framework governing online gaming in the UK need to be clearly developed and finalized. The first applications are expected to be accepted in 2006, with licenses granted and the regulatory regime in full operation by 2007. CryptoLogic, through its licensing subsidiary WagerLogic, counts among its customers an enviable list of major UK gaming brands, including William Hill, Betfair, The Ritz Club London, Littlewoods Gaming and ukbetting. The company's gaming software, senior management and directors have already passed the world's highest regulatory tests in "tier one" jurisdictions -- and CryptoLogic is one of the very few providers in the world to do so. About CryptoLogic(R) (http://www.cryptologic.com/) Focused on integrity and innovation, CryptoLogic Inc. is the world's largest public online gaming software developer and supplier. Its 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 its gaming software and services to an internationally- recognized blue chip customer base worldwide. For information on WagerLogic(R), visit http://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. DATASOURCE: CryptoLogic Inc. CONTACT: CryptoLogic, (416) 545-1455, Nancy Chan-Palmateer, Director of Communications; Argyle Rowland Communications, (416) 968-7311 (media only), Daniel Tisch, ext. 223, ; Karen Passmore, ext. 228,

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