New Licensees, Products Pave Way For European Growth; CryptoLogic Targets 50% Of Licensee Revenue From Non-U.S. Markets By Year-End

Business Wire, April 30, 2002

Business Editors

TORONTO--(BUSINESS WIRE)--April 30, 2002

CryptoLogic Inc., (NASDAQ:CRYP)(TSE:CRY) a leading software supplier to the Internet gaming and e-commerce industries, is pleased to announce the following licensee- and product-related developments:

-- Ritz Interactive Chooses CryptoLogic Software;

-- Dukes Entertainment Chooses CryptoLogic Software And Enters Into Preferred
Advertising Agreement With FreeLotto;

-- Sports.com Casino Goes Live;

-- Littlewoodscasino.com To Go Live In May; and,

-- New CryptoLogic Bingo Product To Go Live In May.

"CryptoLogic's strategy is to drive profitable growth by focusing on brand-name licensees operating in Tier-one regulated jurisdictions. Right now, this means Europe," said Jean Noelting, CryptoLogic's President and CEO, "and the signing of Ritz Interactive and Dukes Entertainment, the launch of Sports.com and the pending launch of Littlewoodscasino.com are prime examples of this strategy in action. As a result, we expect to return to growth in the second half of the year."

"Our goal is for 50% of licensee revenue to be generated in non-U.S. markets by the end of 2002 through a combination of organic growth and the addition of four top-tier licensees," Noelting said. "I'm very pleased that, within the first half of the year, an already solid base of licensees has been further strengthened through the addition of three highly-regarded organizations which we expect will very quickly make an impact on the European Internet gaming marketplace."

Ritz Interactive Chooses CryptoLogic Software

Ritz Interactive Ltd. has chosen CryptoLogic software to bring The Ritz Club, one of the world's most exclusive privately-owned gaming clubs, on-line.

An exclusive members-only club located in London's historic Ritz Hotel, The Ritz Club appeals to the true connoisseur of luxury and elegance. The Ritz Club's online casino will carry the same cachet, and a highly customized slate of games will mirror those offered to members in the London casino. Roulette, blackjack, punto banco and casino stud poker will all be available any time, online.

Ritz Interactive, a wholly owned subsidiary of The Ritz Club established to pursue online, wireless and interactive television-related gaming activity, was recently awarded one of three online casino licenses in Alderney, a Tier-one regulatory environment with controls on par with those adhered to by land-based casinos.

Dukes Entertainment Chooses CryptoLogic Software And Enters Into Preferred Advertising Agreement With FreeLotto

Dukes Entertainment N.V., through its Dukesgaming.com website, will offer CryptoLogic's full slate of downloadable and Java casino games to players around the globe. Fully regulated and licensed in Curacao, Dukesgaming.com will provide players secure online gaming with a friendly and fun atmosphere. Dukesgaming.com is scheduled for launch in the second quarter.

In support of its international strategy, Dukesgaming.com has entered into a long-term advertising agreement with PlasmaNet, Inc. PlasmaNet operates FreeLotto.com, the leading multilingual sweepstakes provider online. This agreement gives Dukesgaming.com access to FreeLotto.com's 24 million registered and qualified players worldwide. The most trusted sweepstakes site on the web, FreeLotto.com boasts over 5.7 million unique users and 1.6 billion page views per month.

Dukes Entertainment N.V., incorporated in Curacao, Netherlands Antilles, is a wholly-owned subsidiary of The Dukes Partnership, an Isle of Man Partnership.

PlasmaNet, Inc. is a leader in the online data mining and product promotion industry. FreeLotto.com originated the online lottery format sweepstakes, and thus far has awarded over $34 million in prizes, including one $10 million winner and eleven $1 million winners.

Sports.com Casino Goes Live

CryptoLogic is pleased to announce that the Sports.com Casino is now fully-launched and ready for the start of football's World Cup in June.

Sports.com is the first licensee site to initially go live with CryptoLogic's recently launched suite of Java-based casino games. A downloadable casino version is currently in development. Based in Curacao, the Sports.com Casino is fully functional for play and payouts in British pounds sterling.

Sports.com is one of the largest Internet sports brands and sports content providers in the world. Published in five languages, Sports.com has the highest traffic digital network for sports information and betting in Europe with over 4 million audited unique users via the Internet and wireless devices. Regulated and operating in the U.K., Sports.com's sportsbook provides its global users an online sports wagering service as a natural complement to its real-time, live and comprehensive sports coverage.

Sports.com is a primary sports content provider to some of the world's best-known online news sites in the U.K., France, Germany, Spain, Italy and Ireland including Yahoo, AOL, MSN and Lycos, and supplies news and results to more than 30 newspapers in the U.K. Strong financial partners such as Soros Private Equity Partners, IMG, Reuters and Goldman Sachs have supported Sports.com's broad reaching success.