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GTECH Named Apparent Successful Vendor for Online Lottery Contract in Tennessee WEST GREENWICH, R.I., Nov. 21 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation today announced that its wholly-owned subsidiary, GTECH Corporation, was named the apparent successful vendor to provide an online lottery system, lottery terminals, and related communications network to the Tennessee Education Lottery Corporation (TELC). The seven-year integrated services contract is expected to commence at startup and follows a competitive procurement process. "GTECH is committed to the growth of new customers in new markets," said GTECH President and CEO W. Bruce Turner. "We are grateful for the opportunity to provide the TELC with a state-of-the-art online lottery solution and an IP- based wireless communications network. GTECH's Enterprise Series transaction processing solution will not only allow the TELC to remain flexible and grow at their own pace, but it also gives them the ability to integrate best-in- class third-party applications. We appreciate the desire of the TELC to begin generating revenues for college scholarships as soon as possible," continued Mr. Turner. "With the experienced team of lottery professionals that CEO Rebecca Paul has been able to assemble, we are confident that the initiation of the Tennessee Education Lottery will proceed flawlessly and at a record-setting pace." Upon successful completion of final contract negotiations, GTECH will provide the TELC with the Company's Enterprise Series architecture, featuring Internet Protocol (IP) web-component technology. Approximately 4,000 PC-based Altura(R) terminals will be installed initially, with the capability for the TELC to grow to 10,000 terminals over the contract period. Of the total terminals, up to 3,000 Altura LVT terminals for retailers requiring a more compact terminal will be provided. GTECH will provide the TELC with ongoing services including system design, delivery, and ongoing support operations; terminal installation and maintenance; retailer training; marketing support; field service; hotline management; and telecommunications network installation, management, and maintenance. With respect to its contract resulting from negotiations, GTECH expects to generate revenues of approximately $120 million to $130 million over the life of the contract. Proceeds from the TELC will be used to support the Tennessee Hope Scholarship Program. 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. Such statements include, without limitation, statements relating to the prospects and financial outlook for the Company, which reflect management assumptions regarding the future prospects for and stability of the TELC's operations. 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 Company's and the TELC's inability to agree upon and enter into a definitive agreement; (ii) the potential impact of extensive and evolving government regulations upon the Company's business; (iii) the possibility of slower than expected growth or declines in sales of lottery goods and services by the Company's new customers; (iv) the intensity of competition in the lottery industry; (v) the possibility of substantial penalties under and/or termination of the Company's contracts; (vi) the ability of the Company to respond to technological change and to satisfy the future technological demands of its customers; (vii) opposition to expansion of lottery and gaming; (viii) the possibility of legal protests of the award. GTECH, a leading global information technology company with $1 billion in revenues and 4,900 people in 43 countries, provides software, networks, and professional services that power high-performance, transaction processing solutions. The Company's core market is the lottery industry, with a growing presence in financial services transaction processing. 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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