N@N

CryptoLogic Limited: CryptoLogic Appoints New Chairman, Proposes Additional Independent Director

_{//business-finance.news-articles.net/content/200 .. an-proposes-additional-independent-director.html}
^{Published in Business and Finance on Thursday, May 14th 2009 at 23:33 GMT, Last Modified on 2009-11-02 12:59:55 by Market Wire}  

DUBLIN, IRELAND--(Marketwire - May 15, 2009) - CryptoLogic (TSX:CRY)(TSX:CXY)(NASDAQ:CRYP)(LSE:CRP), a world leader in Internet casino and branded gaming software, today announces that its board has selected David Gavagan as its new independent non-executive chairman. The appointment takes effect after CryptoLogic's annual shareholders' meeting on June 3, 2009.

Mr. Gavagan, a Fellow of the Institute of Chartered Accountants in Ireland, joined CryptoLogic's board as an independent non-executive director in June 2008. He will succeed Robert Stikeman, who steps down as chairman but continues as a non-executive director. Mr. Gavagan has more than 29 years' boardroom experience at many public and private companies. He was the co-founder and managing partner of a private equity fund.

"I am honoured to succeed Robert Stikeman, who helped pioneer the Internet gaming industry and provided strong leadership as CryptoLogic's chairman for the past six years," Mr. Gavagan said. "As CryptoLogic enters a new stage of its development, today's announcement reflects our continued commitment to the highest standards of corporate governance, and to long-term value for our shareholders."

CryptoLogic also announces today that it proposes to appoint James Wallace as an independent non-executive director at the annual meeting. Mr. Wallace's appointment, if approved by shareholders, will increase the total number of independent directors to four.

Mr. Wallace, a Fellow of the Institute of Chartered Accountants in England & Wales, has extensive experience as a public company director. He is currently chairman of Scapa Group plc, the senior independent non-executive director and audit committee chairman of NCC Group plc, and a non-executive director of the Manchester Airport Group. In the past, Mr. Wallace has served as chairman of Bodycote International plc, senior independent non-executive director of Holidaybreak plc, chairman of Sigma Capital Group plc and chairman of the audit committee of Sanctuary Group plc.