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

CryptoLogic Limited

March 05, 2008 06:00 ET

Stephen Freedhoff Rejoins CryptoLogic Board

DUBLIN, IRELAND--(Marketwire - March 5, 2008) - CryptoLogic Ltd. (TSX:CRY)(TSX:CXY)(NASDAQ:CRYP)(LSE:CRP), a world leader in Internet gaming software, announced today the appointment of Stephen Freedhoff to the company's board of directors. Mr. Freedhoff, a chartered accountant and certified financial planner, is very familiar with CryptoLogic, having previously served the company as a director and chairman of the audit committee.

Mr. Freedhoff brings CryptoLogic more than 30 years' experience as a partner at one of Canada's largest accounting firms. He assumes the independent director position previously held by Brian Hadfield, who was appointed president and CEO of CryptoLogic last week.

"Stephen Freedhoff will help provide both insight and oversight as CryptoLogic pursues its strategy of global growth - while ensuring accountability and value for our shareholders," said Bob Stikeman, CryptoLogic's Chairman. "Stephen knows both our company and our industry very well, and having him return to our team reflects our mutual commitment to the highest standards of governance."

Mr. Freedhoff, a self-employed financial consultant since 1999, has served on the boards and audit committees of several public companies.

About CryptoLogic®(www.cryptologic.com)

Focused on integrity and innovation, CryptoLogic Limited 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 has been certified to strict standards similar to land-based gaming.

WagerLogic Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of CryptoLogic software and services to customers who offer their games around the world to non-U.S. based players. For information on WagerLogic®, 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.

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