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Autotote Signs New Contract Worth $2 Million With Cyprus for New Alpha Eclipse System

10 July 2000

NEW YORK-(Press Release)--July 10, 2000 -- AUTOTOTE CORPORATION (Amex: TTE - news) today announced that it has signed a new agreement worth $2 million with the Nicosia Race Club of Cyprus to replace its previous Autotote VAX and MKII pari-mutuel system with Autotote's top level software, including the new Alpha component of the Eclipse(TM) wagering product.

The system upgrade provides improved terminal flexibility while the Eclipse(TM) system's Alpha component offers unprecedented processing capacity which is up to four times greater than some of the largest systems in North America. The deal also includes 225 MAX3000(TM) terminals and other upgraded communication and operations equipment. The new system should be operational by October 2000.

The Nicosia Race Club selected Autotote's totalizator system in a highly competitive and rigorous international bidding process. According to Mr. P.M. Kazamias, the Club's General Manager, ``From our standpoint, Autotote's equipment was clearly the best available, both technologically and based on reliability.''

Lorne Weil, Chairman and CEO of Autotote, said, ``The successful pursuit of new business like this -- high profile, recurring revenue agreements -- attests to our competitive strengths. We can go up against anyone in the world and win. In contest after contest our equipment has been deemed technologically superior and our services have proven highly reliable. We intend to keep ahead of the curve, innovating in both equipment and delivery of facilities management services to maintain our robust growth.''

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