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

CryptoLogic Inc.

November 01, 2006 19:38 ET

CryptoLogic Maintains Quarterly Dividend At US$0.12 Per Share

TORONTO, ONTARIO--(CCNMatthews - Nov. 1, 2006) - 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 declared the company's quarterly dividend of US$0.12 per common share, which is unchanged from the previous two quarters. The dividend represents an increased payout rate of future earnings, which are expected to be affected in the near term as the company's licensees no longer accept bets from US players.

CryptoLogic has demonstrated a track record of strong revenue generation, consistent earnings and positive cash flow. The decision to increase the dividend payout rate reflects CryptoLogic's ongoing confidence in its business.

The dividend will be paid on December 15, 2006 to shareholders of record as at December 8, 2006. The ex-dividend date will be December 6, 2006.

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 Global Select 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.

Contact Information

  • CryptoLogic
    Rick Wadsworth
    Director of Communications
    (416) 545-1455
    Website: www.cryptologic.com
    or
    Argyle Rowland Communications
    Karen Passmore
    (North American media only)
    (416) 968-7311 ext. 228
    Email: kpassmore@argylerowland.com
    or
    Argyle Rowland Communications
    Dan Tisch
    (North American media only)
    (416) 968-7311 ext. 223
    Email: dtisch@argylerowland.com
    or
    Corfin Communications
    Ben Hunt
    (UK media only)
    +44 207 929 8985
    or
    Corfin Communications
    Neil Thapar
    (UK media only)
    +44 207 929 8999
    or
    Corfin Communications
    Harry Chathli
    (UK media only)
    +44 207 979 8980