Business Wire: CryptoLogic Technology Brings Prestigous Ritz Club London Brand Online; The Ritz Club

Business Editors

TORONTO--(BUSINESS WIRE)--Sept. 18, 2002

CryptoLogic Inc. (NASDAQ:CRYP)(TSX:CRY.TO) announced today that The Ritz Club London Online (www.theritzclublondon.com) is now live and open for business using CryptoLogic's leading e-gaming technology.

Grown out of one of the finest gaming brands in the world, The Ritz Club London Online will focus on meeting the needs of its exclusive high-value membership while at the same time enabling a full spectrum of players to experience the superior standard of customer care for which The Ritz Club London is known.

"We are very proud to have been entrusted by The Ritz Club London to bring its heritage of security and sophistication to the Internet," said Lewis Rose, CryptoLogic's Interim President and CEO. "Focusing on both existing high value members and new players, this association fits perfectly with our strategy of expansion in the rapidly-growing European and international markets."

Located in London's historic Ritz Hotel, The Ritz Club London is a venue that evokes the great Edwardian gilded casinos of Europe. The Ritz Club London Online casino carries the same cachet, and a highly customized slate of 26 casino games includes multi-player Blackjack, American Roulette, European Roulette, Baccarat, Casino Stud Poker and Let-It-Ride Poker.

"After a meticulous evaluation of potential suppliers, CryptoLogic was our first and only choice to bring to the Internet the high standards and operating procedures that set The Ritz Club London apart," said Kelly Moulton, CEO of The Ritz Club London Online. "The Ritz Club London is synonymous with quality and trust, and CryptoLogic has carried this tradition of excellence and the highest level of customer service to our Internet Casino."

About The Ritz Club

Originally opened in 1978, The Ritz Club London is situated in the former ballroom of London's historic Ritz Hotel and appeals to the true connoisseur of luxury and elegance. The Ritz Club London places great emphasis on ensuring that the highest standards of operating procedures are consistently upheld. The brand and reputation of The Ritz Club London are important factors in maintaining its loyal following amongst its rich and famous members around the globe.

The Ritz Club London Online is a wholly-owned subsidiary of The Ritz Club London, established to pursue online, wireless and interactive television-related gaming activity.

About CryptoLogic

CryptoLogic Inc. is the leading software development company serving the Internet gaming market. The Company's proprietary technologies enable secure, high-speed financial transactions over the Internet. CryptoLogic, ranked #1 in the Profit 100 listing of Canada's fastest growing companies, continues to innovate and develop state-of-the-art Internet software applications for both the electronic commerce and Internet gaming industries. WagerLogic, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to customers around the world.

CryptoLogic's common shares trade on the Toronto Stock Exchange under symbol the CRY and on the Nasdaq National Market under the symbol CRYP. There are currently 12.3 million common shares outstanding (14.4 million shares fully diluted). For more information, visit cryptologic.com and wagerlogic.com

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.