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CryptoLogic Signs Second Australian Licensee

The company's wholly owned subsidiary, Intertainet Overseas Licensing Limited, has licensed its online gaming software and support services to a wholly owned subsidiary of eBet Limited, an Australian-based company delivering government sanctioned horse racing, sports betting and lottery services in Australia, New Zealand and around the world.

"In keeping with our strategy, eBet adds to our growing roster of top brand name licensees in the international gaming industry," said Andrew Rivkin, CryptoLogic's president and CEO.

"eBet's reputable brand and partnerships with blue-chip organizations present excellent opportunities to offer Internet casino products to its expanding user network -- within a highly regulated environment that benefits consumers."

Mr. Rivkin added, "The introduction of virtual casino games to eBet's Internet gaming & wagering portal is a logical expansion of their business. As an Internet agent for both the New Zealand TAB and lottery operator Tattersall's, eBet is in an excellent position to offer a growing range of online gaming services to its customers in regulated gaming markets around the world.

eBet will take advantage of CryptoLogic's multi-lingual software, offering English and a number of Asian and European languages to their international players."

eBet is CryptoLogic's second major Australian-based licensee, joining Jupiters Ltd., one of Australia's most recognized hotel casino organizations. Industry experts have identified the Australasian region as the next burgeoning market in Internet gaming -- a catalyst that could double global Internet gambling revenues.

"Credibility and security are of utmost importance to our Internet customers, and so the pairing of CryptoLogic's first-class Internet gaming technology with our leading reputation gives us the essential criteria for success," said Keith Cullen, managing director of eBet.

"Consistent with our strategy to create a one-stop shop for international gaming, CryptoLogic expands our menu with an exceptional range of interactive casino games and further enhances our global appeal.

We plan to focus on the lucrative Asian and European markets and our existing customer base. We are committed to working within global legislation and as such, we will not be accepting wagers from the US or other jurisdictions where legislative restrictions might apply."

NZ TAB is the exclusive operator of on and off course pari-mutuel race betting and fixed odds sports betting in New Zealand. It offers its products through more than 500 retail outlets and via its telephone betting centers, which cater to approximately 100,000 account holders.

NZ TAB accepts bets on all New Zealand and many Australian races and an extensive range of international sports all of which are available online via www.ebetonline.com.

For over 100 years, Victorian-based Tattersall's has been the government licensed and regulated lottery operator serving Victoria as well as three other Australian and seven international jurisdictions. It operates Australia's leading lottery games, OZ Lotto, PowerBall and TattsLotto all of which are available online via www.ebetlotto.com.

eBet is also establishing an interactive closed-loop race betting service into a joint-venture agreement with satellite broadcaster, TrackPower, Inc. (OTCBB: TPWR) to establish an integrated race broadcasting and betting service to cater to the US racing market. The service, which is currently in beta testing will be available from www.ebetusa.com and www.trackpower.com.

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