GTK Gtech

GTECH Receives Second Consecutive 90-Day Contract Extension From the Colorado Lottery WEST GREENWICH, R.I., Jan. 13 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK) today announced that the Colorado Lottery, pursuant to the provisions of its original contract with GTECH, exercised for the second time its unilateral right to extend GTECH's contract for an additional 90 days. Under this second consecutive 90-day extension, the Company will continue to provide online lottery products and services to the Lottery commencing on January 31, 2005. GTECH's contract with the Colorado Lottery expired on October 31, 2004, however the Lottery, in its sole discretion, granted the Company its first 90-day extension which began November 1, 2004. Following a competitive procurement in October 2002, the Colorado Lottery selected Scientific Games Corporation as its vendor to provide equipment and services for a new integrated online and instant-ticket lottery system. As with the first 90-day extension, this second contract extension was entered into in order to provide Scientific Games additional time to convert the system beyond the previously-established deadline. Under the terms of the contract extension, GTECH will continue to provide ongoing services to the Colorado Lottery, including operation and maintenance of the central system hardware and software, terminal maintenance, and hotline management through April 30, 2005. GTECH has provided online lottery products and services to the Colorado Lottery since 1988. The Company estimates revenues of $2 million over the 90- day contract extension period. 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, a leading global information technology company with over $1 billion in revenues and more than 5,400 people in over 50 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 commercial gaming technology and 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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