CryptoLogic Launches Java Versions Of Most Popular Casino Games

Business Wire, Feb 19, 2002

Business Editors

TORONTO--(BUSINESS WIRE)--Feb. 19, 2002

CryptoLogic Inc. (NASDAQ:CRYP) (TSE:CRY.)

New instant-play games bring online casino excitement to more players ... fast

CryptoLogic Inc., a leading software supplier to the Internet gaming and e-commerce industries, announced today the launch of instant-play Java versions of 14 of its most popular casino games. The ease of no-download Java games supports CryptoLogic's strategy to offer consumer-friendly products to help its licensees extend their market reach and create profitable, sustainable Internet businesses.

"CryptoLogic's new no-download Internet casino games offer quick and easy play, a strong appeal to the casual gamer," said President and CEO Jean Noelting. "Internet gaming is moving to mainstream entertainment, and the ease of Java games will help our licensees attract new players and target the larger recreational market. People can play right away using Java games, or enjoy a richer gaming experience by downloading our state-of-the-art software. It's all about choice."

Backed by the technical excellence and proven security features for which CryptoLogic is known, players can simply click and immediately start enjoying the same great online casino games with these new Java-based versions. Java technology provides a robust gaming experience without the wait of a large software download. Players gain ease-of-use, instant-play and increased choice within a single account - they can try games quickly and easily before committing to a download; get playing right away while downloading the richer software games in the background; easily switch between Java or download games; or enjoy the convenience of being able to play on different computers. Because Java is platform independent, licensees can also tap into an expanded new market - Macintosh users.

CryptoLogic's initial Java offering features the favorites - Blackjack and Spice Island Poker table games, as well as eight Video Poker games and four Java Video Slots including popular progressive jackpot games, Super Jackpot and Shoot-O-Rama.

About CryptoLogic

CryptoLogic Inc. is the leading software development company serving the Internet gaming market. The company's proprietary technologies enable secure, high-speed financial transactions over the Internet. CryptoLogic continues to innovate and develop state of the art Internet software applications for both the electronic commerce and Internet gaming industries. WagerLogic, a wholly owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to customers around the world.

CryptoLogic's common shares trade on the Toronto Stock Exchange under the symbol CRY and on the Nasdaq National Market under the symbol CRYP. There are currently 12.0 million common shares outstanding (14.5 million shares fully diluted). For more information, visit www.cryptologic.com and www.wagerlogic.com.

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.