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GTECH informed of Pennsylvania Lottery decision28 April 2008ROME, Italy -- (PRESS RELEASE) -- Lottomatica S.p.A.'s (Pink Sheets: LTTOY) wholly-owned subsidiary, GTECH Corporation, today announced that it has been informed by the Pennsylvania Lottery of their intent to award the contract for the Lottery's online and instants-system to the incumbent vendor. Previously, the Lottery had announced the intention to award the contract to GTECH and referenced the pricing of the proposal. Negotiations with the Company followed. In March 2008, the Lottery reversed course and announced it would seek best and final offers (BAFO) from the two bidders who submitted proposals in response to the original RFP, thereby allowing the previously unsuccessful incumbent an opportunity to re-bid. GTECH will review the matter to determine the extent to which the Company's rights have been violated during the BAFO process, and take appropriate legal action, if appropriate. The proposed five-year contract was expected to generate annual revenues to GTECH in the range of euro 15 million to euro 18 million beginning in 2009, with an approximate euro 40 million planned investment in 2008. Lottomatica Group confirms its financial guidance provided on April 7, 2008, in the Group's 2008 - 2010 Strategic Plan presentation. |