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MDI Announces Scientific Games, Inc. Agrees To Convert MDI Debenture Into Equity22 March 2001HARTFORD, Conneticut--(Press Release)--March 22, 2001--MDI Entertainment, Inc. (NASDAQ SC:LTRY) announced today that Scientific Games Inc., one of the world's largest suppliers of lottery games, and wholly owned subsidiary of Autotote Corporation (AMEX:TTE), has voluntarily converted its $750,000 Convertible Subordinated Debenture with a conversion price of $2.00 per share into 375,000 common shares. Steven Saferin, President and CEO of MDI Entertainment said, `` MDI is gratified that our strategic partner Scientific Games has taken this action at this time. Our business has never been better and our future never brighter and Scientific Games is a large part of the reason. We look forward to continuing to work with Scientific Games as we seek to expand our business and increase shareholder value.'' In September 1999, MDI Entertainment, Inc. entered into a strategic alliance with Scientific Games for the marketing of lottery tickets with game themes provided by MDI. Scientific Games is a world leader in providing a full range of lottery products, integrated systems and support services to lotteries in more than 64 nations and 26 U. S. states, as well as various commercial businesses around the globe. The company also has production or operating facilities in the United Kingdom, France, Germany, and Austria. |