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BGI Inc. Settles Texas Dispute

During 2001 and early 2002 the Bexar County District Attorney's Office seized eight of the Company's Charity Station machines and $985,435 from the Company's bank accounts. Under the terms of the settlement agreement Bexar County will retain all of the funds seized by it except for $420,478 which will be held in escrow pending the resolution of the Securities and Exchange Commission investigation or earlier release as may be provided under the terms of the escrow arrangement.

Under the terms of the settlement the Company also agreed not to operate any Charity Stations or similar sweepstakes machines in Bexar County until such time as there is a definitive court ruling or legislation confirming that such activities are legal. This settlement does not admit guilt, fraud or any wrongdoing on the part of BGI. The State and BGI acknowledged that the settlement is a compromise to avoid the cost of protracted litigation.

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