Others : CryptoLogic has a new CEO

CryptoLogic Inc., a leading software developer to the global Internet gaming industry, made public the engagement of Javaid Aziz as the company's President and CEO. Aziz, with 30 years of varied international experience in the information technology industry, served as chief executive of IBM United Kingdom Ltd. and went on to found Aspective Ltd., a leading wireless application service provider and consulting firm.

Also, CryptoLogic announced that it will establish its new global headquarters in Dublin, Ireland. This will guarantee management is closer to the majority of its business clients in Europe, an area where gambling regulation is accepted, and closer to corporate opportunities. CryptoLogic assumes to organize a special meeting of shareholders to approve the reconstitution of the company into a United Kingdom company resident in Ireland, whose shares will be listed on the TSX, NASDAQ Global Select Market and the London Stock Exchange.

Lewis Rose, the company's CEO since 2002, has assisted in the process and is a supporter of the move to Ireland as the next logical step in CryptoLogic's evolution. Rose announced his intention to step down as CEO because of family commitments, effective upon the hiring of the new CEO. Aziz accepted the offer knowing that CryptoLogic's brand is synonymous with integrity, innovation and financial performance. He excited to lead the CryptoLogic team and to continue growth and expansion in the U.K., Europe and Asia.

Aziz brings impressive experience in leading an advanced technology business. Between 1975 and 1995, he held positions of increasing responsibility at IBM, ascending to the rank of chief executive for the United Kingdom. Following four years as senior vice president of Silicon Graphics, Aziz founded Aspective in 1999 and sold it in 2006 to Vodafone Group Plc, the global mobile phone and technology company.

To continue excellent foundation laid by Lewis Rose, CryptoLogic has chosen Javaid an experienced leader in both the management of an innovative technology company and a global business based in Europe.

Under Rose’ leadership CryptoLogic constantly attained new records in revenue and earnings. He lead the company's entry into the Internet poker industry and built one of the top revenue-generating poker networks in the world, and created the most innovative casino offering in the industry. Identifying the regulatory insecurity in the U.S. e-gaming market, Rose effectively transferred CryptoLogic's business to Europe. He built new and stable partnerships with many of the world's blue-chip gaming and entertainment brands, including William Hill, and more recently, Playboy and Holland Casino. Rose also settled CryptoLogic's first presence in Asia, grew revenue from $34 million in 2002 to more than $100 million in 2006, and grew the company's market capitalization from CDN$92 million in 1992 to CDN$400 million today.

About the new CEO, Rose said he is sure that Aziz will be supported by the management team, and would continue to push CryptoLogic's success in the hottest e-gaming markets of today and tomorrow.