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07 May 2010

CryptoLogic Appoints New CFO

DUBLIN, IRELAND, May 06, 2010 - CryptoLogic Limited (TSX: CRY)(TSX: CXY)(NASDAQ: CRYP)(LSE: CRP), a global developer of branded online betting games and internet casino software, announces the appointment of Huw Spiers as Chief Financial Officer with effect from August 15, 2010. He will succeed Stephen Taylor, who is leaving the Company after five years to return to Canada. Upon his return to Canada, Stephen will be assisting the Company's Canadian subsidiary for a transitional period.

Huw, aged 46, a Fellow of the Institute of Chartered Accountants in England and Wales, brings more than 20 years' leadership experience, primarily in the software sector, covering both private and publicly-listed companies in the US and Europe. Before joining CryptoLogic, Huw was CFO at dotMobi, a leading domain registry and mobile technology company based in Dublin. At dotMobi, he spearheaded the commercialisation of its technology, restructuring it to profitability and preparing it for sale.

Prior to dotMobi, Huw spent nine years as CFO of PolarLake, a provider of data distribution and integration solutions primarily for financial services and government markets. In addition, his previous experience includes five years as director and CFO of London & Overseas Freighters, a tanker shipping group headquartered in Bermuda and listed on NASDAQ and London Stock Exchange until its takeover in 1997. Earlier, he was Senior Manager with KPMG Peat Marwick.

Brian Hadfield, CEO of CryptoLogic, said: "First, I would like to thank Stephen for his commitment and dedication to CryptoLogic, in particular during its move to Ireland, and for assisting in implementing the management's restructuring programme. We wish him and his family all the best for the future.

"I would also like to welcome Huw Spiers, who brings extensive management experience and a background from the high growth technology sector. His appointment will help to revitalise the Company's management team following a period of radical change and we look forward to his contribution with much anticipation."

Huw Spiers commented: "I am delighted to join CryptoLogic, an exciting company with excellent long term prospects. It has a proven internet-based business model, a blue chip customer base and great products aimed at a global market destined for long term growth."

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