GTECH SIGNS CONTRACT EXTENSION WITH CUSTOMER IN SLOVAK REPUBLIC
Company to Install New Lottery Terminals and Upgrade Existing Communications Network
(West Greenwich, Rhode Island — February 6, 2002) – GTECH (NYSE:GTK) today announced that the Company has signed an agreement to extend its current contract with TIPOS a.s., a government-owned lottery in the Slovak Republic, through December 31, 2011.
“This extension allows GTECH to continue to provide Slovakian residents access to one of the most advanced lottery systems available in Eastern Europe, while at the same time, showcases our flexible network communications capabilities,” said GTECH CEO and President Howard S. Cohen. “We are extremely pleased and appreciative of this demonstration of support and confidence on the part of our customer.”
Under the terms of the contract extension, beginning on March 1, 2002, GTECH will replace TIPOS’ existing terminal base with approximately 1,650 Isys terminals. GTECH will also upgrade TIPOS’ existing communications network with a secure nationwide network consisting of a private radio and satellite network, which will provide highly reliable communication between a central hub and number of geographically dispersed sites.
GTECH will provide ongoing services to TIPOS including operation and maintenance of central system hardware, software, and terminals, telecommunications services, hotline management, retailer training, and data center operations. With respect to its contract with TIPOS, the Company anticipates generating revenues of approximately $45 million over the contract’s extension period.
GTECH has provided online and instant ticket equipment and services to TIPOS since 1993. Proceeds from the Lottery are transferred to the State’s General Fund and support a variety of good causes, including education and sports.
This press release contains forward-looking statements including, without limitation, statements relating to the future operations and financial performance of the Company and the Company’s future strategies. Such forward-looking statements reflect management’s assessment based on information currently available, but are not guarantees and are subject to risks and uncertainties which could cause 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 and in the Company’s filings with the Securities and Exchange Commission, including its fiscal 2001 Form 10-K and other filings.
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GTECH, a leading global information technology company with approximately $1 billion in revenues and 4,600 people in 44 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 and related segments. For more information about the Company, please visit GTECH’s website at http://www.gtech.com.
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