CryptoLogic Inc.
TSX : CRY
LSE : CRP
NASDAQ : CRYP

CryptoLogic Inc.

November 01, 2005 16:30 ET

CryptoLogic Increases Quarterly Dividend

TORONTO, ONTARIO--(CCNMatthews - Nov. 1, 2005) -

40% increase reflects continued earnings and cash flow generation

CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming market, announced today that its Board of Directors has approved a 40% increase in its quarterly cash dividend to US$0.07 per common share (an annual rate of US$0.28), up from US$0.05 per common share. The US$0.07 per share quarterly dividend will commence with the company's next dividend payable on December 15, 2005 to shareholders of record as at December 8, 2005. The ex-dividend date will be December 6, 2005.

About CryptoLogic® (www.cryptologic.com)

Focused on integrity and innovation, CryptoLogic Inc. is a world-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 Ltd., a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to customers worldwide. For information on WagerLogic®, visit 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.

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