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GTECH Signs Contract Extension with New Zealand Lottery30 June 2003WEST GREENWICH, Rhode Island – (Press Release) -- GTECH Holdings Corporation (NYSE: GTK) today announced that its wholly-owned subsidiaries, GTECH Corporation and GTECH Australasia Corporation, signed a five-year contract extension with the New Zealand Lotteries Commission (NZLC), commencing July 1, 2003, through June 30, 2008. Under the terms of the extension, GTECH will provide the NZLC with a non-exclusive software license to operate the Lottery's central system, and to provide central system and terminal maintenance, game development, and software support. The NZLC and GTECH have the option to extend the contract for an additional three years beyond June 30, 2008. "The NZLC has been a valued GTECH customer since 1987," said GTECH President and CEO W. Bruce Turner. "We are eager to use this opportunity to build a closer regional strategic relationship with our customer in New Zealand, and we look forward to being of service to them over the next five years." With respect to its contract extension with the NZLC, GTECH expects to generate revenues of approximately $6 million over the five-year period. |