CryptoLogic Signs Major Argentinean Gaming Company.Business Editors TORONTO--(BUSINESS WIRE)--July 5, 2000 CryptoLogic Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CRYP CRYP Cheyenne River Youth Project (Eagle Butte, SD) )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CRY.) Introduction of First Internet Casino in Argentina Using Cryptologic cryp·tol·o·gy n. The study of cryptanalysis or cryptography. cryp  to·log Technology CryptoLogic Inc., a leading supplier of software to the Internet gaming and e-commerce industries, today extended its global reach into Argentina. The company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Intertainet Overseas Licensing Limited, has licensed its online gaming software and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to one of South America's largest gaming operations, based from Argentina. CryptoLogic is respecting its licensee's request not to disclose the company's name for competitive reasons, until the launch of the licensee's Internet casino. "Our newest licensee marks the fourth license signed by CryptoLogic with major land-based gaming operators in key international markets," said Andrew Rivkin, CryptoLogic's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The significant land-based brand and operational experience of our new Argentinean licensee combined with CryptoLogic's world class technology, should make Argentina's first Internet casino a great success." Argentina, the second largest country in South America, represents an excellent launching ground for the continent's first Internet casino. CryptoLogic's Internet casino software will enable its newest licensee to expand onto the World Wide Web, cross market to customers playing at its more than 20 gaming facilities and expand its business across Latin America. About CryptoLogic CryptoLogic Inc. is the leading software development company serving the Internet gaming market. The company's proprietary technologies enable secure, high-speed financial transactions over the Internet. CryptoLogic continues to innovate and develop state of the art Internet software applications for both the electronic commerce and Internet gaming industries. CryptoLogic's common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under symbol the CRY and on the Nasdaq National Market under the symbol CRYP. There are currently 14.4 million common shares outstanding (15.6 million shares fully diluted). CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER: Statements in this press release which are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including without limitation risks associated with the Company's financial condition and prospects, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on licensees and key licensees, risks relating to international operations, risks associated with competition and other risks detailed in the Company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements. |
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