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Mega Millions Jackpot Reaches $290 Million

UNITED STATES – (PRESS RELEASE)-- Lottery Commissioner Gary Peters is thrilled to announce that the record-setting $290 million Mega Millions drawing will be broadcast LIVE from Times Square in New York City on Friday, June 2, 2004 at 11 p.m. Mega Millions drawings will continue to originate from Times Square until the jackpot is won.

"The excitement for Friday's Mega Millions drawing is building at a feverish rate," Peters said. "Lottery players all over Michigan are dreaming about what they would do if they became an instant multi-millionaire, and I hope that dream becomes reality for one or more of them tomorrow!"

Mega Millions drawings normally run 45 seconds in length, but will be extended to 60 seconds for the special drawing being held in Times Square, and it will be aired live on cable superstation WGN out of Chicago as well as a network of Michigan stations (check local listings).

If one winning ticket matches all six numbers in Friday night's drawing and the player chooses annuity payments over 26 years, the $290 million jackpot would amount to pre-tax payments of roughly:

* $11.15 million per year;

* $214,497 per week; or

* $30,642 per day!

If one lucky cash-option player matches all six winning numbers, he or she will take home a check for approximately $163.6 million (before taxes), the estimated present cash value of Friday's $290 million jackpot!

"The current Mega Millions jackpot started at $10 million on May 11," said Peters. "It has rolled 15 times without a jackpot winner, however, the game has paid 14 lucky Michigan Lottery players $175,000 each for a total of $2.45 million in prizes!"

Mega Millions drawings -- held every Tuesday and Friday evening at 11:00 p.m. -- are regularly conducted in Atlanta, Georgia. Once the jackpot is won, Mega Millions drawings will return to the regularly scheduled length of time and location.

Mega Millions tickets are available in Michigan, Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, Ohio, Texas, Virginia and Washington. Mega Millions features nine different prize levels, ranging from $2 all the way up to the jackpot. Wagers cost $1 each and tickets can be purchased at more than 7,000 Michigan Lottery retailers statewide. For more information, please visit the Mega Millions Web site at http://www.megamillions.com .

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