SOURCE: Press Release

AsianLogic Limited, a diversified Asia-Pacific online and land-based gaming company, is pleased to announce its maiden preliminary results for the year ended 31 December 2007 and also provide a trading update for Q1 2008.

Financial Highlights

• Revenues for the year up 95 percent to US$54.3m (2006:US$27.8m) - Average daily casino turnover up 67 percent to US$6.2m (2006:US$ 3.7m) - Average daily poker rake and tournament fees up 14 fold in 2007.

• Other Revenues, including reseller commissions, of US$2.5m (2006:US$1.9m) ? Profit before tax and adjustment for share based awards up 210 percent to US$12.4m (2006:$4.0m )

• Average net gaming per day increased from US$92,243 in January to US$145,249 in December, a rise of 57 percent

• Adjusted earnings per share of 19.4 cents per share(2006: 6.37 cents) Operational Highlights

• Successful AIM IPO in December 2007 raising ?44.3m(before expenses)

• Since IPO:

• acquired the Asian Poker Tour and announced a 4 location tour for 2008

• entered into a sub-licensing agreement with Philweb

• completed a co-operation agreement with Elixir Gaming and several software and technology acquisitions and joint ventures; and

• enhanced product offering and roll out with 2 additional Playtech casinos and 1 poker room launched in March 2008 Current Trading and Outlook

• Underlying business continues to grow strongly with progress across all divisions

• Gaming Operations trading ahead of expectations

• Strong Corporate pipeline

• Q1 net profit US$4m, adjusted for share based awards of US$0.5m and including net profit from gaming operations of US$2.3m, up 10 fold from Q1 2007

• The Company has also entered into three additional agreements to (i) acquire a 25 percent stake in a long established, leading European based e-gaming marketer (ii) acquire a major Asian e-gaming operator (the transaction will be part cash and part shares) (iii) acquire a strategic stake in a quoted Asian gaming company and to enter into various joint venture activities. All transactions are currently in final stages of due diligence and if closed are expected to have a material impact on the Company's earnings, more details of these acquisitions will be provided once completed

• In the period commencing 1 January 2008 to 31 March 2008, average daily casino turnover increased from US$8.7 million to US$11.0 million, an increase of 26 per cent compared to the previous quarter's average

• Net gaming per day has increased from US$212,994 toUS$243,069, an increase of 14 percent

• Poker fees continue to grow quickly, with average daily rake and tournament fees combined showing monthly growth of 20 percent, equating to 81 percent higher than that recorded in Q4 2007

• The Company expects to launch a further two new casinos, four poker rooms and mobile casino gaming in Q2 2008

• Strong Balance Sheet, as at 31 March cash balances of US$82.4 million and investments of US$13.5 million

• Given the Company's weak share price the Board is considering whether it would be prudent for the Company to commence a buy back program of some of its issued shares

* The Company has today provided Q1 profit figures to update the market on current trading. The announcement of these figures however is a one off and will not be a recurring aspect of the Company's future preliminary results statements.

Tom Hall, Executive Vice Chairman, said:

"We continue to pursue our growth strategy, outlined at the IPO, and can today announce that AsianLogic very shortly expects to finish final due diligence and complete the acquisition of a 25 percent stake in a long established, leading European based e-gaming marketer. Furthermore, the Company also announces that it has entered into two additional agreements. The first to acquire a major Asian e-gaming operator and the second to acquire a strategic stake in a quoted Asian gaming company and to enter into various joint venture activities.

"These acquisitions are further evidence of our strategy to grow our customer reach and appeal and reflects the strength of AsianLogic's market leading presence in the Asia-Pacific region. The acquisitions will provide additional opportunities to expand penetration of the AsianLogic brand and products into Asia, one of the fastest growing markets for online and server based gaming."