E-gaming leader joins global fraud-fighting community to reduce fraud, protect players and boost profits

DUBLIN, IRELAND -- (Marketwire) -- 09/15/08 -- ALL FINANCIAL FIGURES ARE IN US$

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 joined a global fraud-fighting community operated by Ethoca Limited. Ethoca will work directly with WagerLogic, the CryptoLogic subsidiary that licenses the company's acclaimed Internet gaming software and services to many of the world's top Internet casino and poker sites.

The agreement provides WagerLogic with the ability to accept more valid player deposits - meaning reduced fraud for its licensees, enhanced protection for its players and increased revenue for the company.

"Our business is built upon the twin pillars of integrity and innovation, and that's why we look for innovative approaches to protect the integrity of our business," said Antony Demetriades, Managing Director of WagerLogic Ltd. "Fighting fraud is both a challenge and an opportunity - for our multi-billion-dollar industry, our customers, our players and our bottom line."

Ethoca is driving collaboration for fraud management in e-commerce and other customer-not-present environments, including phone, fax or mail-order. By securely connecting its members to a collective pool of member-provided payment experience information, Ethoca enables its members to make more informed decisions about their customer transactions in a way that is efficient, effective and ethical, and in a way that is not a competitive threat.

Headquartered in Dublin, CryptoLogic pioneered today's multi-billion-dollar global Internet gaming market more than a decade ago. The company has earned widespread acclaim for its Internet casino software, earning Gambling Online Magazine's Top Casino Software Award in each of the last three years. Based on the votes of players from around the world, this is widely considered the industry's top honour.

"CryptoLogic and WagerLogic are the pioneers of the global Internet gaming space," said Andre Edelbrock, CEO of Ethoca. "In the same way that CryptoLogic continually advances the future of online gaming, we look forward to their participation in helping to build the Global Fraud-Fighting Community powered by Ethoca. We applaud CryptoLogic for leading the way and encouraging other companies to join the collaborative fight against fraud."

WagerLogic, based in Cyprus, licenses CryptoLogic-developed software and services to an exclusive group of the world's most trusted gaming and entertainment brands, including InterCasino, William Hill, Maharajah Club and 888.com. WagerLogic has processed more than US$54 billion in secure electronic transactions for over 2.5 million players worldwide.