SOURCE: Press Release

PartyGaming, the world's leading listed online gaming company, is pleased to announce the appointment of Jim Ryan as Chief Executive Officer and also the promotion of John O'Malia to Managing Director, a new executive position on the Board. Mr Ryan's appointment will take effect shortly, following a handover of his current responsibilities.

Mr O'Malia's appointment takes effect from 16 May 2008. Mr Ryan succeeds Mitch Garber, who leaves the Company on 16 May 2008, but remains available as part of the handover process until 31 July 2008.

In the interim Mr O'Malia will fulfil both roles.

Jim Ryan (46) is a highly experienced internet and technology executive. His 22 years of relevant experience includes being Chief Executive Officer of St Minver Limited, a provider of European white label internet gaming solutions and Excapsa Software Inc, an AIM listed developer of interactive gaming software solutions, and Chief Financial Officer of CryptoLogic Inc, a LSE, NASDAQ and TSX listed internet gaming software development company. A Canadian national, Jim trained as a Chartered Accountant with Deloitte Haskins & Sells and has held senior management and board positions at companies listed on the London, Toronto and NASDAQ stock exchanges.

John O’Malia (38) was formerly the Group’s Chief Games Officer having joined the Group in August 2006 following the acquisition of Gamebookers, the pan-European online sports betting business of which he was CEO. In his new role, John will take full executive responsibility for the day-to-day management of the Group, in addition to his seat on the Board.

Also, PartyGaming announces that Michael Jackson, Non-Executive Chairman, will step down as a Director within the next 3 to 4 months, following the induction of the new CEO and the selection of a successor Chairman.

Michael Jackson led PartyGaming through its stock market flotation in June 2005, one of the largest IPOs on the London Stock Exchange for a number of years. Under his Chairmanship, PartyGaming has faced a number of challenges but has continued to build upon its leading position in the industry by acquiring a number of online gaming companies and through its approach to regulatory compliance and responsible gaming.

A search to find a successor for Michael Jackson has been put in train and a further announcement will be made in due course.

Commenting on Jim Ryan’s appointment and John O’Malia’s promotion, Michael Jackson said:

“The Board is delighted to have appointed Jim Ryan after a rigorous search and selection process that considered a broad range of candidates. Jim has a wealth of experience that will be invaluable in steering the Group through its important next phase of development. Jim’s experience, coupled with John O’Malia’s proven success in managing PartyGaming’s profitability enhancements over the past year, will be a powerful combination in driving the Company forward and continuing to enhance the value and appeal of PartyGaming’s brands and gaming products.”

Jim Ryan said:

“PartyGaming is a great business with the world’s largest online casino, one of the largest online poker rooms, an exciting sports book and bingo product. I am hugely excited by the scale of the opportunity and with the support of PartyGaming’s Board and management team, I am confident we have an exciting and prosperous future.”

Commenting on today’s announcement, Michael Jackson said:

“As Chairman I was given a brief to lead PartyGaming confidently into the publicly quoted arena and establish the Company as a world-leading internet business. In partnership with the Board and the executive management team, this brief has been achieved. I’m heading towards the fourth anniversary of my involvement with PartyGaming and having overseen its first challenging years as a public company, including the closure of our US-facing business, it’s now time for me to leave and pursue other business interests. I believe that having weathered many challenges, the Group has proven its ability to adapt and innovate. With a talented management team and new CEO, it is very well placed to capitalise on its market position and strong brands as it enters its next phase of development.”

Rod Perry, Senior Independent Director, said:

“Michael’s experience and drive have been invaluable to PartyGaming’s success in what have been extremely challenging circumstances. His stewardship in dealing with complex regulatory issues whilst ensuring the Company continues to meet its business objectives is evidenced by PartyGaming’s financial results and reputation as a market leader.”