CryptoLogic Comments on Lawsuit

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(Toronto, ON) – CryptoLogic Inc., a leading software supplier to the Internet gaming and e-commerce industries, announces it intends to vigorously defend allegations made against it and certain of its subsidiaries in a lawsuit filed on March 12, 2002 by Las Vegas From Home.com, a former licensee. The Company and its legal counsel are of the opinion that all of the claims made by Las Vegas From Home.com are frivolous and without merit.

 

CryptoLogic’s wholly owned subsidiary WagerLogic and a subsidiary of Las Vegas From Home.com entered into a licensing agreement in May 2001 with respect to the development and launch of Internet poker software. CryptoLogic terminated that licensing agreement in February 2002 because Las Vegas From Home.Com was determined to be in breach of the agreement due to its failure to meet certain of its obligations under the agreement, its independent development of poker software and its launch of an Internet poker room.

 

“While Las Vegas From Home.com’s lawsuit may make good headlines, its claims have no basis in law or in fact,” said Jean Noelting, President and CEO of CryptoLogic. “This type of frivolous lawsuit is damaging to the Company’s reputation and to shareholder value. CryptoLogic will use all means at its disposal to vigorously defend its position, including initiating a counterclaim against Las Vegas From Home.com and its subsidiary.”

 

About CryptoLogic

 

CryptoLogic Inc. is the leading software development company serving the Internet gaming market. The company’s proprietary technologies enable secure, high-speed financial transactions over the Internet. CryptoLogic continues to innovate and develop state of the art Internet software applications for both the electronic commerce and Internet gaming industries. WagerLogic, a wholly owned subsidiary of CryptoLogic, is responsible for the licensing of its poker deposit pulsa gaming software and services to customers around the world.

 

SunOnline Inks Deal with Dennis Interactive

 

LONDON, 16 January 2002- SunOnline Limited, the operators of the only licensed online casino currently operating within the British Isles, today announced a strategic partnership deal with Dennis Interactive. Casino Atlantis the SunOnline brand will become the exclusive casino partner available on all Dennis Interactive sites providing secure gambling to all Dennis users. SunOnline will also provide content for all the sites in order to help educate users and introduce Dennis customers to online gambling.

 

Links will be provided from pages of the Dennis Interactive sites including; www.maxim-magazine.co.uk, www.autoexpress.co.uk, www.pcpro.co.uk and www.computerbuyer.co.uk which will allow users to click through to a co-branded area for the Casino Atlantis site.

 

Tobin Prior, CEO of SunOnline commented, “We are excited about pursuing this opportunity with Dennis Interactive. They have a substantial, loyal user base that is interested in finding out more about online gambling. Casino Atlantis Online is the leading online casino in the market and would be the ideal site for users to start understanding more about the online casino environment”.

 

Dan Newman, Group Account Manager, Dennis Interactive said, “We are pleased to be able to partner with SunOnline in developing a gambling area for our network of 1.7 million monthly unique users. Dennis Interactive can provide users that have consistently shown an interest in gambling, while SunOnline is able to provide an excellent service. We expect this to be a very profitable partnership.

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