PRESS RELEASE

SOURCE: Cryptologic

Toronto, ON -- CryptoLogic Inc. announced today that on Thursday, February 26, 2004 before markets open, the company will release its financial results for the fourth quarter and year ended December 31, 2003.

Lewis Rose, President and CEO, and Jim Ryan, CFO of CryptoLogic, cordially invite you to participate in the company's analyst/shareholder conference call to be held on February 26, 2004 at 8:30 a.m. (Toronto time). A live webcast of the call will also be available. Management will review the 2003 fourth quarter and year-end financial results and discuss recent developments, to be followed by a question and answer period.

Conference Call Date: Thursday, February 26, 2004 Time: 8:30 a.m. Toronto Time Local Dial-In Number: 416-695-5259 Toll Free North America: 1-877-888-4210 Toll Free International: (Country Code) 800-4222-8835

To participate in the call, please dial 416-695-5259, 1-877-888-4210 or 800-4222-8835 five to ten minutes prior to the 8:30 a.m. start of the teleconference. This conference call will be recorded and available for replay approximately one hour after the completion of the call, up until midnight March 4, 2004. To listen to the replay, please dial 416-695-5275 or 1-866-518-1010. A transcript of the call will also be made available on CryptoLogic's website at www.cryptologic.com under Investor Information.

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