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Non-Tech : Cryptologic (CRY/TSE): First Profitable Internet Casino

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To: John Marcinko who wrote (792)	12/21/1998 1:40:00 PM
From: DaveAu	Read Replies (1) of 2782

www2.cdn-news.com Cryptologic Inc. Makes Strategic Investment TORONTO, ONTARIO--CryptoLogic is pleased to announce that the Company has purchased a 4.3 percent interest in Electronic Card Systems Inc., a private California company. Electronic Card Systems Inc. is in the business of credit card transaction processing, primarily focused to Internet based merchants. CryptoLogic paid $400,000 US for this investment. The Company's investment in Electronic Card Systems Inc. strengthens CryptoLogic's processing capabilities for its current merchants. This purchase also provides a strategic alliance for CryptoLogic's new e-cash product, due to be released in 1999, by giving CryptoLogic access to market its e-commerce product to Electronic Card System's database of merchants. CryptoLogic Inc. is an Internet software development company with leading proprietary technologies that enable secure, high-speed financial transactions over the Internet, and provide state of the art e-commerce and online gaming applications. CryptoLogic Inc. is a public company listed on the TSE, trading under the symbol CRY. There are currently 8.5 million common shares outstanding. -30-

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