RNS Number:7463P
CryptoLogic Inc.
15 September 2003

NEWS FOR IMMEDIATE RELEASE
Symbol: NASDAQ: CRYP; TSX: CRY



ALL DOLLAR AMOUNTS IN US$



   CRYPTOLOGIC APPROVED FOR LISTING AND TRADING ON THE LONDON STOCK EXCHANGE



September 15, 2003 (Toronto, ON) - CryptoLogic Inc., a leading software
developer to the Internet gaming and e-commerce industries, announced today that
its common shares have been approved for admission to the Official List and for
trading on the London Stock Exchange's Main Market.  The company's shares
commenced trading today on London's Main Market under the symbol "CRP".
Additionally, CryptoLogic's shares are included in the techMARK, the technology
index of the London Stock Exchange.



"CryptoLogic's new London listing reflects our global focus, gives us access to
a broader shareholder base, and enhances our reach and profile in a major market
that's favorable to online gaming," said Lewis Rose, CryptoLogic's President and
CEO.  "The UK is emerging as the global center of regulated interactive gaming,
and CryptoLogic has an outstanding roster of well-known blue chip customers and
operations in this high-growth market."



A London listing will enhance CryptoLogic's global strategy and visibility in
the UK, one of the most dynamic growth markets for gaming.  Some of the most
prominent gaming organizations in the UK - William Hill, Littlewoods Gaming, The
Ritz Club London Online and ukbetting - rely on CryptoLogic's proven online
gaming technologies licensed through its wholly-owned subsidiary, WagerLogic.
Since inception in 1996, the company's Internet gaming solution has processed
over US$12 billion in wagers for 1.5 million players in 240 countries around the
world.



Canaccord Capital (Europe) Limited is acting as the nominated UK adviser and
broker to CryptoLogic, which has an approximate market capitalization of #80
million (as at the close of Friday, September 12, 2003), with 12.2 million
shares outstanding.  CryptoLogic's London listing complements its existing
listings on the Toronto Stock Exchange (symbol: CRY) and Nasdaq National Market
(symbol: CRYP).



CryptoLogic consistently generates positive operating profit, healthy cash flow
and has one the strongest balance sheets in its industry.  The company's
financial strength was highlighted most recently in its second quarter results,
with revenue rising 22% to US$10.8 million and net earnings increasing by 27% to
US$2.6 million or US$0.21 per diluted share.  At June 30, 2003, CryptoLogic had
a total cash position of US$58.3 million and working capital of US$39.8 million.
As a global leader, CryptoLogic is one of the few software companies able to
offer the best of old economy fundamentals while capitalizing on the growth in
the new economy of online gaming.



CryptoLogic has long advocated a regulated approach to foster a transparent,
credible and enduring online gaming industry, and applauds the UK's lead in
establishing a world-class regulatory regime that holds online gaming to the
same strict standards as land-based gaming.  CryptoLogic is one of the world's
few Internet gaming software providers licensed and certified to the most
exacting government-regulated requirements.  CryptoLogic's compliance
initiatives to date in Alderney and the Isle of Man provide the company with an
excellent platform for expansion in the proposed regulated UK market for online
gaming.





About CryptoLogic (www.cryptologic.com)

CryptoLogic Inc. is a leading software and services provider to the global
online gaming market. The company's proprietary technologies enable secure,
high-speed financial transactions over the Internet, and its leadership in
regulatory compliance makes it one of world's few gaming software companies
licensed and certified to the most exacting government-regulated requirements
for online gaming similar to land-based gaming.



WagerLogic Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for
the licensing of its gaming software and services to an
internationally-recognized blue chip client base.  In addition to a broad
product portfolio of more than 80 casino games, bingo and multi-player poker,
WagerLogic offers integrated e-cash management and customer care services in
multi-currencies and multi-languages for a total online gaming solution.



CryptoLogic's common shares trade on the Toronto Stock Exchange under the symbol
CRY and on the Nasdaq National Market under the symbol CRYP. There are currently
12.2 million common shares outstanding (12.4 million shares on a diluted basis,
based on the treasury method).



For more information, please contact:

CryptoLogic, (416) 545-1455                                    Canaccord Capital (Europe), 44 20 7518 2777
Nancy Chan-Palmateer, Director of Communications               Neil Johnson, Vice President
Jim Ryan, Chief Financial Officer

Argyle Rowland,  (416) 968-7311                                Financial Dynamics, 44 20 7831 3113
(North American media)                                         (United Kingdom media)
Daniel Tisch, ext. 223/ dtisch@argylerowland.com               Juliet Clarke
Melissa Chang, ext. 239/ melissa@argylerowland.com             Edward Bridges



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.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCNKPKQABKKQCD