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Ainsworth Shares Fall After CEO Exits

28 March 2002

AUSTRALIA – As reported by the Australian Associated Press: "Shares in Ainsworth Game Technology Ltd plummeted 12 per cent today, after the gambling machine company announced the resignation of its chief executive Jim O'Mahony.

"Ainsworth said Mr O'Mahony would leave the company at the end of June 2002, six months after steering the group to its public listing in December 2001.

"The company's shares tumbled as much as 13 cents, or 12 per cent, to a two-month low of $1.15, before narrowing the fall to nine cents, or seven per cent, to $1.20 by 1531 AEDT.

"…In accordance with the original mandate agreed with the company, Jim has successfully led the company through the first phase of its development, including the launch of its Ambassador Gaming Machine, building the company's infrastructure and taking the company public,' the company said in a statement.

"Mr O'Mahony also led the company through an exclusive development deal with crowngames.com, the Vanuatu-based gambling arm of Packer media giant Publishing and Broadcasting Ltd whose January launch was delayed due to an earthquake…"

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