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Aristocrat Leisure Limited to Buy Casino Data Systems

17 January 2001

SYDNEY, Australia--(Press Release)--Jan. 17, 2001-- Aristocrat Leisure Limited (Aristocrat) announced that it has signed a definitive purchase agreement to acquire Casino Data Systems (CDS) of Las Vegas. In the transaction, each CDS stockholder will receive US$9.25 in cash for each share of CDS stock.

Aristocrat is one of the largest gaming machine companies in the world. It is an Australian public company, founded in 1953 and listed on the Australian Stock Exchange, with a market capitalization of A$2.46 billion (US$1.35 billion).

It pioneered video multi-line gaming machines and is a major producer of games and software for gaming venues around the world. It holds over 100 state, territory and tribal gaming licences and its products are sold in more than 30 countries.

CDS is a public company, founded in 1990 and listed on Nasdaq in the United States. CDS specializes in technology driven products for the gaming industry.

Its products include a casino management system called OASIS, which has the leading market share in the United States with over 140,000 machines connected to it. It also has a multi-site progressive link system, allowing gaming machines in various venues to be linked to a central computer which allocates progressive jackpots across the network.

CDS is involved in gaming machine development, utilizing its own advanced ``Bandit'' platform. CDS's new and innovative Q-slot product and purchase options are currently under test in Nevada. CDS has wholly owned subsidiaries which also produce signs, progressive meters and controllers and software programming tools.

The acquisition would cost approximately US$180 million (A$325 million) and will initially be financed through cash on hand and bank facilities to be arranged in conjunction with this acquisition. Aristocrat currently has almost no borrowings.

Aristocrat Chief Executive Des Randall said, ``The acquisition of CDS will greatly assist the development of Aristocrat's business in the United States. The two companies have complementary businesses and are a logical fit. Both sets of customers will benefit from the combination of these two leading companies in innovative and technically advanced gaming products.

"We are very impressed with their casino management systems, their multi-site progressive link system and their new game products. CDS has a strong management team, a positive and complementary culture, and we look forward to their contribution as part of Aristocrat's growing international presence.''

The founder and CEO of CDS, Steve Weiss, said, ``I believe the combination of both companies is a great match and will be successful for both companies' shareholders, employees and customers. Both companies have a strong technological focus which will enhance the line of products and systems their customers receive.''

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