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

CryptoLogic Inc.

September 02, 2005 06:00 ET

Leading British executive joins CryptoLogic Board

TORONTO, ONTARIO--(CCNMatthews - Sept. 2, 2005) -

Nigel Simon brings extensive senior European business expertise to CryptoLogic

ALL DOLLAR AMOUNTS IN US$

CryptoLogic Inc. (TSX:CRY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer for the global Internet gaming market, announced today that Nigel Simon has been appointed as a Non-Executive Director of the Company's Board of Directors. Simon, a veteran British business executive, has more than 25 years of broad senior management and strategic experience in leading and managing international businesses. He brings particular expertise in strategy, marketing, regulatory issues, sales, banking, corporate governance and mergers and acquisitions. Simon's global expertise will be a significant asset as CryptoLogic continues its growth in the fast-growing UK and European Internet gaming markets.

"Nigel Simon is an experienced executive with particular strengths in strategy and marketing, which will be an excellent complement to CryptoLogic's Board and leadership team," said Lewis Rose, CryptoLogic's President and CEO. "Nigel's extensive background in international businesses - notably in the UK and Europe, CryptoLogic's core growth markets, and his familiarity with Asia - will add valuable insights as we continue to deliver some of the world's best Internet games to the world's best gaming brands."

Simon has led a multi-billion-dollar business in Continental Europe, as well as building Gallaher's substantial volume position in Russia, Kazakhstan and Asia. In doing so, he has demonstrated a track record for growing both market share and profits and has worked with leading investment banks, advertising agencies and management consulting firms around the globe. Simon held senior management roles for 20 years with Gallaher Group PLC, an approximately Pounds Sterling 4 billion FTSE 50 and NYSE-listed international tobacco company based in the UK, with sales in 68 countries and manufacturing locations in the UK, Austria, Kazakhstan, Poland, Romania, Russia, Ukraine and Sweden. Some of Simon's most notable achievements at Gallaher included growing the company's international profits by more than 600 per cent over a ten year period, and leading the EUR 2.1 billion European acquisition and integration of an Austrian manufacturer.

Simon also holds extensive experience as a non-executive board member. He served for seven years as a Main Board Director of Gallaher and held positions as Chairman of Germany's largest vending retailer, and as a Board member for Germany's largest convenience store wholesaler.

"CryptoLogic has earned a reputation for innovation, trust and performance in the global online gaming industry," Simon said. "I'm pleased to join the Board of a company that has made these attributes the foundation of its business. I look forward to contributing my counsel to CryptoLogic as it continues its rapid growth in Europe."

In addition to his business interests, Simon also serves as a trustee for a major UK charity and as a mentor for the Prince's Trust - a charity founded by the Prince of Wales to help less-privileged young adults get their start in business.

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. CryptoLogic's 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 the company's gaming software and services to an internationally-recognized customer base. 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.

Contact Information

  • CryptoLogic
    Nancy Chan-Palmateer
    Director of Communications
    (416) 545-1455
    or
    (media only)
    Argyle Rowland Communications
    Karen Passmore
    (416) 968-7311, ext. 228
    kpassmore@argylerowland.com
    or
    (media only)
    Argyle Rowland Communications
    Dan Tisch
    (416) 968-7311, ext. 223
    ditch@argylerowland.com