Chartwell Announces Release of Its Version 4.0 Online Gaming System

Chartwell Technology Inc. TSX-VEN: CWH

Calgary, Canada October 28, 2002, Chartwell Technology Inc. (TSX-VEN: CWH) is very pleased to announce it has set another benchmark in online gaming with the commercial availability of Version 4.0 of its no download casino gaming suite.

Driven by the client growth in new global markets, Version 4.0 of Chartwell's Online Gaming System provides unparalleled player reach through its multi-language and multi-currency capabilities. Adding further depth to Chartwell's extensive casino game suite, Version 4.0 introduces the new Red Dog and Casino War table games and the Cash Inferno 5 Reel Bonus Slots. Enhanced player game controls and game information supplement the superior game layouts and animation now available to players with Version 4.0.

"We are extremely excited about this new version of our Flash product and once again feel we are setting the standard for online browser-based gaming software", states Darold H. Parken, President and CEO.

In addition to the release of its Version 4.0 Online Gaming System, Chartwell Technology also announces the beta launch of its multi-player poker software. "This is an exciting opportunity for Chartwell to break into new gaming verticals", states Mr. Parken. "Our clients are seeing explosive growth in their online gaming businesses and an excellent compliment to their established player base is our multi-player poker suite". The poker suite contains five popular variations including Texas Hold'em, Omaha, and Omaha high/low, which are playable as ring games or in tournament mode. Ring game players have their choice of poker tables based on table limit, number of players, speed of play or a combination of these variations.

"The success of a clients online poker business is largely dependent on the operator having built a critical mass of players to draw from", continued Mr. Parken, "Our licensees are some of the largest brands in the gaming business and so our challenge was to deliver a product that not only provides a graphically satisfying experience but also is fast enough to accommodate a wide range of connection speeds while incorporating our industry driven administration tools and maintaining seamless integration of this product into our clients' existing infrastructure".

While Chartwell continues to develop and advance its leading edge software, exemplified by the release of the Version 4.0 Online Gaming System, the company is focused on breaking into new markets. Products such as multi-player poker, bingo and kiosk based gaming systems and the deployment of java-based games for the mobile phone market represent exciting future growth initiatives, ensuring that Chartwell will remain a premier software supplier to this rapidly growing industry.

About Chartwell

Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet. 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 David Bajwa, Investor Relations

(877) 261-6619 or (403) 261-6619 (877) 699-4180 or (604) 669-4180

dhp@chartwelltechnology.com info@chartwelltechnology.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products, regulation of the online gaming industry, and other risks detailed from time to time in Chartwell's filings with the Securities & Exchange Commission. We assume no responsibility for the accuracy and completeness of these statements and are under no duty to update any of the forward-looking statements contained herein to conform these statements to actual results. This is not an offer to sell or a solicitation of an offer to purchase any securities.