Cryptologic and WebSports Technologies settle dispute

May 16, 2005

Litigation by WebSports Technologies against Cryptologic has been settled out of court for an undisclosed sum, according to its president, Nick Murphy.

Following press releases from the company, InfoPowa has been following the long-running story since the court action was filed in Toronto on November 22, 2002.

Court File No. 02 CV 240094 CM alleged that Cryptologic Inc. a TSX, Nasdaq and AIM listed company, breached a contract and in order to do so attempted to falsify the outcome of a software testing procedure being conducted by TST Testing systems North America to certify the ProSportsTrade Exchange Game created by WebSports Technologies Inc. to Tasmanian gaming standards.

The case, scheduled for hearing on June 20 this year has now been withdrawn.

Cryptologic had earlier dismissed the claims as "frivolous and without merit," and stated that it would vigorously contest the allegations.

This week Murphy said that WebSports was now moving forward and planned to launch its Pro Sports Exchange product in time for the upcoming NFL season.

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