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GTECH Awarded Contract Extension With Brazilian Lottery15 January 2003WEST GREENWICH, Rhode Island – (Press Release) -- GTECH Holdings Corporation (NYSE: GTK) announced today that its wholly-owned subsidiary, GTECH Corporation, and the operator of the Brazilian National Lottery, Caixa Economica Federal, have agreed to a contract extension whereby GTECH will continue to provide online lottery and financial services to Caixa through April 14, 2003. In light of the recent Federal Elections, Caixa has extended its current contract with GTECH to afford its newly-appointed administration and Board of Directors the opportunity to familiarize themselves with the scope and complexity of the products and services currently being provided by GTECH during this transition period. "GTECH has agreed to this extension to accommodate Caixa as its new leadership takes office. We are committed to working closely with Caixa's new administration, in the hope of achieving a favorable long-term solution for our customer," said GTECH President and CEO W. Bruce Turner. GTECH's contract extension with Caixa will continue at the current rates, and the terms and conditions will remain the same. This extension does not affect any of the previously-disclosed legal actions which remain pending in Brazil. The Company's outlook for fiscal year 2004 remains unchanged. |