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MGAM, WMS Gaming Enter New License Agreement16 September 2002AUSTIN, Texas--(Press Release) -- Multimedia Games Inc. (Nasdaq:MGAM) announced today that it had entered into a new license agreement with WMS Gaming Inc., a subsidiary of WMS Industries Inc. (NYSE: WMS), which extends and expands the existing arrangement between the two companies. Under the terms of the new licensing agreement, WMS will provide new game themes for MGAM's Class III game library, and will allow MGAM to adapt WMS games such as Reel `Em In and Filthy Rich for the Class II market. Previously, MGAM used WMS' game themes exclusively for Class III video lottery games in Washington State. Gordon Graves, founder and CEO of MGAM said, "The WMS video game themes, particularly the animation-style bonus round games such as Reel `Em In and Filthy Rich, have been very popular in Washington, and we are excited about introducing them to our Class II customers. On the Class III front, we will now begin offering a selection of WMS' most popular new game themes in Washington State." Under the terms of the agreement, MGAM will be able to license for its use in the Washington State and Class II markets any of the game themes that WMS currently offers on a sale basis. In addition, WMS will manufacture a number of electronic player stations for MGAM. The player stations will be built with an MGAM-provided module which converts the player station into a Windows PC device that will allow download of new game display software and automatic remote troubleshooting via MGAM's Betnet network. MGAM has provided WMS with several contractual assurances that its activities under the agreement will allow WMS to continue to maintain its gaming licenses in good standing, without disruption. |