RitzOnline Casino in Alderney

RNS Number:9526T
CryptoLogic Inc.
07 January 2004


FOR IMMEDIATE RELEASE
ALL DOLLAR AMOUNTS IN US$
Symbol: TSX: CRY; NASDAQ: CRYP; LSE: CRP


  RITZ CLUB LONDON LAUNCHES INTERNET CASINO IN HIGHLY REGULATED JURISDICTION -
                    USING CRYPTOLOGIC-DEVELOPED TECHNOLOGY


Alderney government certification reinforces CryptoLogic's regulatory strength
and leadership

January 7, 2004 (London, UK) - CryptoLogic Inc., a leading software developer to
the Internet gaming and e-commerce industries, is pleased to announce another
important milestone in its European growth. The Ritz Club London Online
(www.theritzclublondon.com), a prestigious UK gaming brand, has used
CryptoLogic-developed technology to establish an online casino in Alderney - one
of the industry's most strictly regulated jurisdictions in the world.

CryptoLogic is at the regulatory forefront as one of the few gaming software
companies in the world that complies with the most exacting requirements.  This
commitment to the highest integrity is evidence by its software certification in
Alderney, through WagerLogic, a wholly owned subsidiary of CryptoLogic, and
together with The Ritz Club London, a customer since 2002.

"CryptoLogic and The Ritz Club London share a strong commitment to safe, secure
and responsible online gaming," said Lewis Rose, CryptoLogic's President and
CEO.  "We are proud to partner with The Ritz Club London to set up its online
casino in Alderney - a world-leading regulated market.  Today's announcement
marks another regulatory milestone for us as we capitalize on exciting growth
prospects in the UK and Europe."

As the global movement to regulate Internet gaming gains momentum, CryptoLogic's
experience and acceptance in multiple highly regulated jurisdictions such as
Alderney and the Isle of Man give the company a competitive advantage as more
land-based operators migrate to regulated markets for interactive gaming.  In
seeking certification, CryptoLogic, its directors, senior officers and
WagerLogic are subject to stringent government review and its software undergoes
rigorous third party independent testing.  The company's compliance initiatives
provide an excellent platform for long-term growth as the UK also moves to
regulate remote gaming.

"The Ritz Club London is synonymous with quality and trust, and CryptoLogic has
carried that tradition to our Internet casino," said Malcolm Graham, Managing
Director, The Ritz Club London Online.  "This exceptional software enables us to
deliver a premium gaming experience to both our existing land based members and
a new online player base, while operating from one of the best regulatory
environments for online gaming."

"We are pleased with the decision of both Ritz Interactive and CryptoLogic to
launch The Ritz Club London Online in Alderney and are satisfied that the casino
operations and the gaming software comply with all our regulatory requirements,"
added Andre Wilsenach, Chief Executive Officer of the Alderney Gambling Control
Commission.

About CryptoLogic (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
proprietary 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 Ltd., a wholly-owned subsidiary of CryptoLogic, is
responsible for the licensing of its gaming software and services to customers
worldwide.  For more information on WagerLogic, visit www.wagerlogic.com.

CryptoLogic's common shares trade on the Toronto Stock Exchange (symbol: CRY),
the Nasdaq National Market (symbol: CRYP) and the London Stock Exchange (symbol:
CRP).  There are currently 12.3 million common shares outstanding.

About The Ritz Club (www.theritzclublondon.com)

The Ritz Club London is the essence of fine gaming and part of the rich Ritz
heritage that dates back to 1906.  Situated in the former ballroom of London's
historic Ritz Hotel, the prestigious and exclusive club appeals to the true
connoisseur of luxury and elegance.  The Ritz Club London places great emphasis
on ensuring that the highest standards of operating procedures are constantly
upheld.  The brand and reputation of The Ritz Club London are important factors
in maintaining its international and loyal following amongst its members.

The Ritz Club London Online is a wholly-owned subsidiary of The Ritz Club
London, established to pursue online, wireless and interactive
television-related gaming activity.

About Alderney Gambling Control Commission

The Alderney Gambling Control Commission was established in May 2000, and
regulates gambling on behalf of the States of Alderney.  The single most
important policy of the Commission is to provide a regulatory environment that
meets 'world-class' standards and thereby both protects the reputation of
Alderney and attracts 'world-class' operations. The Commission has therefore
positioned itself to offer a regulatory environment that is likely to attract
operators who seek a comprehensive and tightly controlled regime.  These are for
the most part the major gambling operators who have brands that they wish to
protect and who wish to be able to demonstrate to the regulators of their
immensely valuable terrestrial casinos that they observe similar high standards
when operating outside their normal jurisdiction.

Alderney, the third largest of the British Channel Islands has its own
government, legislature and company laws and is a center for investment,
finance, e-commerce, e-gaming and e-betting.



For more information, please contact:

CryptoLogic, [phone]                            Argyle Rowland,  [phone] (North American media)
Nancy Chan-Palmateer, Director of Communications             Daniel Tisch, ext. 223/ [e-mail]
Jim Ryan, Chief Financial Officer                          Melissa Chang, ext. 239/ [e-mail]

                                                              Financial Dynamics, + 44 20 7831 3113(UK media)
                                                                          Juliet Clarke, [e-mail]
                                                                        Edward Bridges, [e-mail]



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.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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