Advisory: CryptoLogic to Hold Analyst/Shareholder Conference Call To discuss its 2008 first quarter results DUBLIN, IRELAND, and

TORONTO, ONTARIO, May 2, 2008 (Marketwire via COMTEX News Network) -CryptoLogic Limited (TSX:CRY)(TSX:CXY)(NASDAQ:CRYP)(LSE:CRP) announced today that on the morning of Monday, May 12, 2008 (before the market opens in Toronto, Canada), the company will release its financial results for the first quarter 2008. Brian Hadfield, President and CEO of CryptoLogic, cordially invites you to participate in the company's analyst/shareholder conference call to be held on May 12, 2008 at 1:30 p.m. (GMT) 8:30 a.m. (EST time). A live webcast of the call will also be available. Management will review the financial results for the 1st quarter 2008 and discuss recent developments which will then be followed by a question and answer period. Conference Call --------------Date: Monday, May 12, 2008 Time: 8:30 a.m. Toronto Time (EST) Local Dial-In Number: 416-695-6616 Toll Free North America: 1-877-677-0837 Toll Free International: (Country Code) 800-6578-9898 To participate, please call five to ten minutes prior to the 8:30 a.m. start of the teleconference. This conference call will be recorded and available for replay approximately one hour after the completion of the call, up until midnight (EST time) May 20, 2008. To listen to the replay, please dial 416-695-5800 or 1-800-408-3053, passcode 3259610#. A transcript of the call will also be made available on CryptoLogic's website at www.cryptologic.com under Investor Information. Webcast To access the live audio webcast, please go to www.cryptologic.com and click on Investor Information/Events, or http://events.onlinebroadcasting.com/cryptologic/051208/index.php prior to 8:30 a.m. Windows Media Player is required to listen to the webcast. If you do not have the player, a free download is available at www.microsoft.com. A rebroadcast of the webcast will be available for 120 days. About CryptoLogic(R) (www.cryptologic.com) Focused on integrity and innovation, CryptoLogic Limited is a world leading, blue-chip public developer and supplier of Internet gaming software. Its leadership in regulatory compliance makes it one of the very few companies with gaming software that is certified to strict standards similar to land-based gaming. WagerLogic Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to an internationally-recognized blue chip customer base worldwide. For information on WagerLogic(R), visit www.wagerlogic.com.

SOURCE: CryptoLogic Limited CryptoLogic Limited Maureen Lockett (416) 545-1455 x 5734 investor.relations@cryptologic.com www.cryptologic.com