CryptoLogic Declares Quarterly Dividend

    News Editors

    TORONTO--(BUSINESS WIRE)--Feb. 16, 2005--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$0.05 per common share. The dividend will be paid on March 15, 2005 to shareholders of record as at March 8, 2005.

    About CryptoLogic(R) (www.cryptologic.com)

    Focused on integrity and innovation, CryptoLogic Inc. is the world's largest public online gaming software developer and supplier. 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(R), 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.



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

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CONTACT: CryptoLogic Inc. Nancy Chan-Palmateer Director of Communications (416) 545-1455 OR Argyle Rowland Daniel Tisch Media (416) 968-7311, ext. 223 dtisch@argylerowland.com OR Argyle Rowland Karen Passmore Media (416) 968-7311, ext. 227 kpassmore@argylerowland.com

KEYWORD: NEW YORK UNITED KINGDOM INTERNATIONAL CANADA EUROPE INDUSTRY KEYWORD: ELECTRONIC GAMES/MULTIMEDIA DIVIDEND SOURCE: CryptoLogic Inc.

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