GTK Gtech

WEST GREENWICH, R.I., May 10 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK) today announced that its wholly-owned subsidiaries, GTECH Corporation and GTECH Global Services Corporation Ltd., signed a three-year contract extension to supply the Beijing Welfare Lottery Center (BWLC) with a new online lottery central system, new lottery terminals, and ongoing software licensing and support. The contract extension runs through December 31, 2015, with three one-year extensions beyond that date. "We believe the decision by BWLC to continue its partnership with GTECH is a tribute to our commitment to providing quality products and services," said GTECH President and CEO W. Bruce Turner. "We are eager to use this opportunity to further strengthen our relationship with the lottery and their retailers over the next several years, and we look forward to continuing the growth and progress we have experienced since BWLC's startup in 2000." Under the terms of the contract extension, GTECH will replace BWLC's existing lottery equipment with GTECH's Enterprise Series(TM) solution and 1,500 Altura(R) terminals. GTECH will continue to provide ongoing services to BWLC including upgrades and maintenance for its keno and lottery central systems; software licensing and support; game design; marketing consultation; and terminal spare parts and additional terminals as determined by BWLC. GTECH will receive a percentage of sales as an ongoing software license and support services fee. "It is also important to note that an alliance arrangement whereby BWLC can become the hub lottery/keno operator for neighboring jurisdictions in China remains in place," continued Mr. Turner. "To date, GTECH has added one keno jurisdiction under this arrangement, Shenzhen, in October 2005." GTECH has provided lottery products and services to BWLC since its inception in 2000. Since that time, BWLC's sales have grown year-over-year reaching $255 million in 2005. Proceeds generated by the BWLC support various welfare funds, with an emphasis on orphanages and elderly care. Certain statements contained in this press release are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company identifies forward looking statements by words such as "may," "will," "should," "could," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," or similar words that refer to the future. Such statements include, without limitation, statements relating to the prospects and financial outlook for the Company, which reflect management assumptions regarding: (i) the future prospects for and stability of the lottery industry and other businesses in which the Company is engaged or expects to be engaged, (ii) the future operating and financial performance of the Company (including, without limitation, expected future growth in revenues, profit margins and earnings per share), and (iii) the ability of the Company to retain existing business and to obtain and retain new business. Such forward looking statements reflect management's assessment based on information currently available, but are not guarantees and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in the forward looking statements. These risks and uncertainties include, but are not limited to, those set forth above, in the Company's subsequent press releases and on reports by the Company on Forms 10-K, 10-Q and 8-K, and other reports and filings with the Securities and Exchange Commission, as well as risks and uncertainties respecting: (i) the potential impact of extensive and evolving government regulations upon the Company's business; (ii) the ability of the Company to continue to retain and extend its existing contracts and win new contracts; (iii) the possibility of slower than expected growth or declines in sales of lottery and gaming goods and services by the Company or the Company's customers; (iv) exposure to foreign currency fluctuations; (v) risks and uncertainties inherent in doing business in foreign jurisdictions; (vi) the relatively large percentage of the Company's revenues attributable to a relatively small number of the Company's customers; (vii) the possibility of significant fluctuation of quarterly operating results; (viii) the intensity of competition in the lottery and gaming industries; (ix) the possibility of substantial penalties under and/or termination of the Company's contracts; (x) the ability of the Company to respond to technological change and to satisfy the future technological demands of its customers; (xi) opposition to expansion of lottery and gaming; (xii) the Company's ability to attract and retain key employees; and (xiii) the possibility of adverse determinations in pending legal proceedings. GTECH is a leading gaming technology and services company. With more than $1.3 billion in annual revenues and 5,300 people in over 50 countries, GTECH provides integrated technology, creative content, and business services to effectively manage and grow today's evolving gaming markets. In targeted emerging economies, GTECH also leverages its operational presence and infrastructure to supply commercial transaction processing services. For more information about the Company, please visit GTECH's website at http://www.gtech.com/. Contact: Robert K. Vincent Public Affairs GTECH Corporation 401-392-7452 DATASOURCE: GTECH Holdings Corporation CONTACT: Robert K. Vincent, Public Affairs of GTECH Corporation, +1-401-392-7452 Web site: http://www.gtech.com/

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