New Chief Executive of Chartwell
By staff
Calgary, Canada, March 3, 2004, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of gaming software systems and entertainment content to the online and mobile gaming industry is pleased to announce the appointment of Mr. Lee Richardson as Chief Executive of Chartwell Games Corp., its wholly owned subsidiary. Mr. Richardson will oversee the European operations of Chartwell Games Corp. including sales, marketing, and business development. He will also be responsible for enhancing our corporate presence and expansion in this strategic market.

Mr. Richardson holds an MBA from the University of Strathclyde (Glasgow), is a Fellow of the UK Chartered Institute of Marketing, and a member of the UK Academy of Marketing. He brings to Chartwell over 20 years of senior-level experience in national and international business-to-business and consumer markets including betting, gaming, and leisure. Mr. Richardson's extensive industry experience includes his position as Chief Operating Officer of Coral Eurobet, Managing Director of Totalbet.com, Managing Director of Tote Direct and Marketing Director of the British Horseracing Board.

“We are extremely pleased to have someone with Lee’s extensive industry background, solid reputation and broad skill set join the Chartwell team” stated Darold Parken, President and CEO of Chartwell Technology Inc. “As we focus on the rollout of our new products and platforms in the European market, Lee will be a tremendous asset in building Chartwell’s presence and providing strong strategic guidance within this and other new market areas for our unique business model and technology.”

Mr. Richardson's achievements in delivering results in complex business and regulatory environments include: being the industry’s first Marketing Director for the British Horseracing Board where he created an award-winning multi-million-pound sponsorship channel, and the launch of Sunday Racing with betting; the development of new products and channels for Coral Eurobet’s on-line sports betting and gaming operations, achieving record market share, turnover, active customers, gross win and profits within 12 months; and management responsibility for Tote Direct, a joint venture between the Tote, Ladbrokes and Coral Eurobet, operating the largest network of on-line betting terminals-second in size only to the UK National Lottery.

Richardson said, “I am tremendously excited to be joining Chartwell at this important time in its growth and expansion. Europe is an increasingly vital part of the world marketplace for betting and gaming, and I intend to see that Chartwell, with its first-class people and products, achieves an even bigger share of this fast-developing market.”

Under the direction of Mr. Richardson, Chartwell Games will continue to expand its base of brand clients and leverage its unique position as a true technology partner in the deployment of new gaming products and platforms including multiplayer poker and bingo, mobile, kiosk and Interactive TV (ITV).

Stock Options

Mr. Richardson has been granted an option to purchase 200,000 common shares of Chartwell Technology. The options were granted for a five-year term pursuant to the Company’s Stock Option Plan.

Chartwell has also granted an option to purchase 50,000 common shares of Chartwell Technology to Mr. Dave Bajwa, a consultant to the Company performing investor relations activities. The options were granted for a five-year term pursuant to the Company’s Stock Option Plan.

About Chartwell

Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet and wireless platforms and other remote access devices. Chartwell's Java and Flash based software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell does not participate in the online gaming business of its clients. Chartwell's team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support.

Chartwell invites you to preview and play our games at: www.chartwelltechnology.com

For further information, please contact: Chartwell Technology Inc.

Darold H Parken, President (877) 261-6619 or (403) 261 6619

dhp@chartwelltechnology.com

 
 
 
 
 
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