DUBLIN, IRELAND--(Marketwire - Aug. 8, 2008) - CryptoLogic Limited (TSX:CRY)(TSX:CXY)(NASDAQ:CRYP)(LSE:CRP), a leading software developer to the global Internet gaming market, announced today that it has signed a three-year contract relating to Internet casino software with the Gaming Media Group Limited, owner of The Poker Channel(R), Europe's largest dedicated gaming television network, and PokerHeaven.com, a major European poker room.

Under the agreement, made through CryptoLogic subsidiary WagerLogic Limited, CryptoLogic's award-winning casino games will be available to players around the world - in five languages - later this year. CryptoLogic will be the sole provider of online casino software for the duration of the contract.

"We promised swift action to take CryptoLogic to the next level of online gaming, and our new relationships with leading brands such as the Gaming Media Group show that we are executing on our plan," said Brian Hadfield, CryptoLogic's President and CEO. "Gaming Media Group's commitment to promote the games through advertising means new profile for CryptoLogic products that takes them to new people and new places."

The Poker Channel, which recently announced its launch in the Netherlands on UPC, now broadcasts to more than 15 million households across 16 different territories in Europe. The channel, which offers more than 600 hours of premium programming, attracts close to one million unique viewers per month, with 65 per cent of its viewers visiting an online gaming site every day. It also operates www.PokerChannelEurope.com, a leading provider of on-demand programming for gaming fans worldwide.

PokerHeaven.com is one of the most recognized poker brands in Europe, with a player base spread across Europe and driven through its strong online and TV presence since its launch three and a half years ago.

"Our partnership with CryptoLogic provides us with a unique set of world-leading branded games that are perfectly suited to TV advertising, and various interactive TV gaming services we have planned," said Crispin Nieboer, CEO of Gaming Media Group.