CHARTWELL CORPORATE UPDATE

Chartwell Technology Inc. TSX: CWH

Calgary, Canada, August 2, 2010, Chartwell Technology Inc. (Chartwell or the Company) (TSX: CWH), a leading provider of games, gaming systems and platform for the regulated online casino gaming industry provides a general corporate update including notification that its license agreement with Betfair will come to an end on August 31, 2010. Betfair has been a very significant Chartwell licensee for the past four years. The Chartwell Gaming System has been a very successful part of Betfairs innovative approach to the online gaming industry and Chartwell has been proud to have been a part of that innovation. Chartwell has added several new licensees this year, including Casinos Austria, Centrebet Ltd, and most recently Globet International Sports Betting Limited (Globet). Casino Austria is live and the deployment of Centrebet is progressing well, which will be followed closely by the launch of Globet. In addition to these new licensees Chartwell has numerous new sales opportunities in the pipeline and anticipates announcing several more new customers by year-end. The Company is confident that current momentum of new business expected this year should allow us to replace the revenue lost from Betfair. We have enjoyed a very good relationship with Betfair and what we have learned through that association will certainly benefit us going forward, stated Darold H. Parken, CEO of Chartwell Technology Inc. We wish them continued success and we have every intention of working with them again in the future should the opportunity arise. Chartwell has been a very good business partner to Betfair, stated Steve Ives, Managing Director of Betfair Games. This was a difficult decision for us as we hold Chartwell, its products and its people in very high regard. The continued advancement of the Chartwell Games Platform, both in a wide variety and increased volume of new gaming content and operating features is driving new sales and further growth opportunities for the Company. About Chartwell Chartwell specialises in the development of leading-edge games, gaming systems and platform for the regulated online casino gaming industry. Chartwell is certified or licensed to offer a range of services in all of the leading regulated online gaming markets. Chartwell is not a gaming operator; their clients own their brands and databases entirely and exclusively. Chartwell's team of highly trained professionals is committed to delivering the highest quality software and maintaining its market edge through continuous development and unparalleled customer support. Chartwell invites you to preview our company and gaming applications at www.chartwelltechnology.com

For further information, please contact:

Darold Parken, CEO Chartwell Technology Inc. (403) 261-6619 dhp@chartwelltech.com David Bajwa, Investor Relations Chartwell Technology Inc. (877) 669-4180 or (604) 669-4180 info@chartwelltechnology.com

The TSX does not accept responsibility for the adequacy or accuracy of this release. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained herein may constitute forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements, including those with respect to the addition of new clients and the replacement of revenue from the terminating client. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. We believe that the expectations reflected in the forward-looking statements are reasonable based upon managements current views but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. No assurance can be given that actual results, performance or achievement expressed in, or implied by these forward-looking statements will occur, or if they do, that any benefits may be derived from them. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of factors that may include, but are not limited to: actual implementation or delays in the implementation of our products by our customers, our ability to continue to attract new licensees, the financial success and future growth of new and present licensees, delays in development, the impact of government regulation, licensing and laws affecting international operations, the impact of price competition, loss of business or credit risks associated with current and prospective major customers, general industry and market conditions and growth rates, currency rate fluctuations, the impact of consolidations in the online gaming industry and other risks detailed from time to time in Chartwells Annual Information Form and Managements Discussion and Analysis, both of which may be found at www.sedar.com