AMSTERDAM, THE NETHERLANDS -- (MARKET WIRE) -- 02/09/07 -- CryptoLogic Inc. (TSX: CRY)(NASDAQ: CRYP)(LSE: CRP), a leading software developer to the global Internet gaming market, has announced an exclusive three-year licensing contract to provide both poker and casino software for Holland Casino - the Dutch government licensed casino operator in the Netherlands. The new site, run by Holland Casino on behalf of the Dutch government, is expected to launch in June 2007, and will be available to residents of the Netherlands only.

"At CryptoLogic, we're focused on strengthening our competitive advantage in Europe, and our new relationship with Holland Casino achieves this - in spades," said Lewis Rose, CryptoLogic's President and CEO, who was in Amsterdam for the signing. "By adding a government controlled casino operator to our blue-chip roster of customers, we have an excellent template for other governments interested in realizing the benefits of safe, secure and regulated Internet gaming."

The agreement, made through CryptoLogic's wholly-owned subsidiary, WagerLogic Limited, reflects CryptoLogic's commitment to working with large, trusted, blue-chip casino operators. This agreement is subject to certain ratification, including by the Dutch government authorities and the Supervisory Board.

Holland Casino operates 14 land-based casinos across the Netherlands, including those at the popular tourist resorts Zandvoort, Valkenburg and Scheveningen. Since its first land-based casino opened in the Netherlands in 1976, Holland Casino has experienced several large expansions, including the addition of city-centre casinos in Amsterdam, Rotterdam, Breda, Nijmegen and Groningen.

"As we take Holland Casino online, we needed a quality partner who could support us with innovation and integrity - and CryptoLogic exceeded our expectations," said Ron Goudsmit, Holland Casino's Vice-President Business Development. "We're excited to develop and launch our online gaming site, which includes a comprehensive responsible gaming program, with a respected provider who can deliver a unique experience to our customers."

Holland Casino will join other top gaming sites using CryptoLogic-developed software. These include William Hill, InterCasino, Interpoker, Playboy Gaming, ukbetting, Littlewoods Gaming, DTD Poker, Betsafe, Parbet Poker and Extreme Poker.

CryptoLogic has introduced almost 100 casino games since 2004, including first-to-market innovations such as Hold'Em Blackjack, a combination of blackjack and poker that has quickly become a player favourite. The company has also introduced the exclusive online slot version of Cubis®, one of the world's most popular 3D puzzle games, amongst many others. CryptoLogic recently won Gambling Online Magazine's Top Casino Software Award for the second consecutive year. The award is based on votes cast by readers, players and website users.

"Players in Holland can now enjoy poker and casino games on the Internet in a safe, secure and regulated gaming environment using our software" said AJ Slivinski, WagerLogic's Managing Director.

About CryptoLogic® (www.cryptologic.com)

Focused on integrity and innovation, CryptoLogic Inc. is a world-leading, blue-chip public developer and supplier of Internet gaming software. Its leadership in regulatory compliance makes it one of the very few companies with gaming software that is certified to strict standards similar to land-based gaming. CryptoLogic's common shares trade on the Toronto Stock Exchange (symbol: CRY), the NASDAQ Global Select Market (symbol: CRYP), and the Main Market of the London Stock Exchange (symbol: CRP).

WagerLogic Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to customers worldwide. For information on WagerLogic®, visit www.wagerlogic.com.

About Holland Casino

Holland Casino, first licensed by the Dutch Government in 1975, operates fourteen successful land-based casinos in the Netherlands. For information on Holland Casino, visit www.hollandcasino.com.

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.

Contacts:
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Stephen Taylor
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(416) 545-1455
(416) 545-1454 (FAX)

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Ken Wightman
Communications
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(416) 545-1454 (FAX)
www.cryptologic.com

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