Good news from Chartwell

Calgary-based turnkey provider Chartwell Technology has produced another positive set of business figures, reporting on the three and six months period ended April 30, 2007 with US$13.8 million cash in the bank, fresh business contracts and rising revenues up at US$ 5.6 million (previous $4.8 million) over the three month period. EBITDA for the period was US$ 600 000.

Highlights for the second quarter of 2007 include:

* Company completes acquisition of the Poker Community Management business

* New corporate revenue record for a quarter at $5.6 million, a 17 percent increase from the
comparable quarter in 2006

* License fee revenue matches the corporate record set in the first quarter at $5.3 million, a
20 percent increase from the comparable quarter in 2006

* Expanded suite of poker variants for unique European markets

* License fee revenue increased 19.9 percent to $5.3 million from $4.4 million in the second quarter of 2006. This increase in license fee revenue was from new business agreements signed in 2006 as well as revenue growth from existing clients.

* Continued strong balance sheet through positive cash flow and positive working capital. At April 30, 2007 Chartwell had $13.8 million of cash and short-term investments compared to $12.7 million at October 31, 2006.