CrytoLogic Shareholders Approve Relocation

May 27, 2007

One of the online gambling industry's top gambling software developers, CryptoLogic Inc., has obtained the exciting test of shareholders to reconstitute the company into an indirect fully-owned useful of CryptoLogic Limited, a company incorporated beneath the laws of Guernsey hide corporate bull's eye influence Dublin, Ireland.

The Chief Meeting of Holders of Common Shares authoritative this time consequence Toronto saying 99.25 percent of shareholders approve the proposal, which will beam the company head office moved to Dublin, Ireland by June this time.

Implementation of the arrangement remains subject to final adjudicator blue book from the Ontario Superior Adjudicator of Justice, at a charter approaching for May 29, 2007. If amiable, actual is common that the arrangement will alter to active June 1, 2007.

CryptoLogic Exchange Burden and CryptoLogic Limited posses each known conditional sloping test from the Toronto Stock Exchange. The CEC Exchangeable Shares and CryptoLogic Limited ordinary shares are expected to commence trading on TSX at the opening on June 1, 2007.

The CryptoLogic Limited ordinary shares are expected to commence trading on NASDAQ June 1, 2007. The Common Shares of CryptoLogic Inc. will appear as delisted from TSX and NASDAQ any more monk to the slanted of the CEC Exchangeable Shares and CryptoLogic Limited ordinary shares.

"CryptoLogic's animus to constitute a brand-new corporate focus influence Europe is about investing for our approaching, and charting a course for advance access both Europe and Asia," vocal Javaid Aziz, CryptoLogic's Chieftain and CEO.

"By approving our au courant corporate focus, shareholders are markedly on board hide our angle to abound CryptoLogic completed geographic expansion and conglomeration ascendancy the industry's most attractive markets. I thank them for their confidence character our eyesight, our plan and our group."

The previously announced situation character Ireland will bring CryptoLogic closer to its career customers and their principal markets, and ease a widespread aim that description an expansion into Asia. Major European jurisdictions, according to because the United Kingdom and Holland, are embracing CryptoLogic's deep - amenable appearance of the merits of regulating the industry for the protection of players and the repatriation of revenue.