CryptoLogic Limited
TSX : CRY
TSX : CXY
NASDAQ : CRYP
LSE : CRP

CryptoLogic Limited

October 17, 2008 16:00 ET

CryptoLogic Appoints Grant Thornton as Auditor

DUBLIN, IRELAND--(Marketwire - Oct. 17, 2008) - CryptoLogic Limited (TSX:CRY)(TSX:CXY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming market, announced today that it has appointed Grant Thornton Ireland as the company's new auditor.

"Grant Thornton provides CryptoLogic with the right combination of depth, breadth and value," said Robert Stikeman, Chairman of the Board of CryptoLogic. "Their strong Irish presence, experience with companies our size, and expertise in all three countries where we have listings make Grant Thornton an excellent fit to support CryptoLogic with its new strategy. We look forward to a productive and successful relationship."

Grant Thornton succeeds KPMG LLP as CryptoLogic's auditor. There have been no reportable events since the most recent audit report, nor any disagreements between CryptoLogic and its current auditor on any matter of accounting principles or practices, financial statement disclosure or auditing scope and procedure. In addition, there have been no reservations or qualifications in any recent auditor's report, other than items already noted in the fiscal 2007 internal control report.

About CryptoLogic®(www.cryptologic.com)

Focused on integrity and innovation, CryptoLogic Limited is a leading blue-chip public developer and supplier of Internet gaming software. 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 blue-chip customers who offer their games around the world to non-U.S. based players. For information on WagerLogic, please visit www.wagerlogic.com.

CryptoLogic's common shares trade on the Toronto Stock Exchange (CRY, CXY), the NASDAQ Global Select Market (CRYP) and the Main Market of the London Stock Exchange (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 Information

  • CryptoLogic
    Stephen Taylor
    Chief Financial Officer
    353 (0) 1 234 0415
    www.cryptologic.com
    or
    Argyle Communications
    Karen Passmore
    (North American and gaming industry media)
    (416) 968-7311 x228
    kpassmore@argylecommunications.com
    or
    Argyle Communications
    Daniel Tisch
    (North American and gaming industry media)
    (416) 968-7311 ext 223
    dtisch@argylecommunications.com
    or
    Corfin Communications
    Neil Thapar
    (UK media only)
    +44 207 977 0020
    or
    Corfin Communications
    Harry Chathli
    (UK media only)
    +44 207 977 0020
    or
    Corfin Communications
    Alexis Gore
    (UK media only)
    +44 207 977 0020