Cryptologic Announces Appointment of Nigel Simon to it's Audit Committee

Wednesday, November 2nd, 2005

London, UK - CryptoLogic Inc. (symbol: CRYP), a leading software developer to the global Internet gaming market, is pleased to announce that at today's quarterly scheduled Board of Directors' meeting, Mr. Nigel Simon was appointed to the Board's Audit Committee. Simon's appointment ensures full compliance with NASDAQ's Audit Committee Composition Rule as set out in the notice received from the exchange.

As previously reported on September 2, 2005, Mr. Simon was appointed as a Non-Executive Director to CryptoLogic'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 global expertise in strategy, marketing, regulatory issues, sales, banking, corporate governance and mergers and acquisitions.

Additionally, directors have 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

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(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).

For more information, please contact:

At CryptoLogic, (416) 545-1455