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Multimedia Games Promotes Lind to CEO

Mr. Lind currently serves as President and Chief Operating Officer of MGAM, and has been associated with the Company since 1997. He has over fifteen years of experience managing technology and gaming companies.

Mr. Graves, who founded the Company in 1990 and provided its initial financing, will remain active as Chairman of the Board. He has been a major innovator in the lottery and gaming industries for almost 40 years.

Thomas W. Sarnoff, one of the Company's independent directors, who led the Board's succession efforts, said, "Clifton Lind has done a remarkable job in helping to mold the Company and is the natural successor to Gordon Graves. As Chairman of the Board, Gordon will be an active advisor to Clifton and will continue to add his entrepreneurial and visionary talents to this great team."

Graves, who has been CEO of the Company since 1994, said, "I want to express my appreciation to Tom, Clifton and the rest of the Board for their hard work and patience in dealing with the CEO succession process. The Board of Directors has unanimously agreed that now is the time to put our succession plan into operation, and I could not be more pleased with the outcome."

Lind said, "I am enthusiastic about this new position, and pleased that Gordon and the Board have given me this responsibility and have confidence in my ability to lead this exciting organization. Gordon's innovative ideas have made him the "dean" of interactive gaming. His past, current and future contributions will have a positive effect on MGAM's progress for many years to come. Gordon and I are both indebted to our staff for their past and current contributions, and we know that our future success will be the result of their efforts, not ours. We have an abundance of business opportunities, a dedicated staff, and a wonderful customer base that make MGAM's future extremely promising."

Multimedia Games, Inc. is the leading supplier of interactive electronic games and player stations to the rapidly growing Native American gaming market. The Company's games are delivered through a telecommunications network that links its player stations with one another both within and among gaming facilities. Multimedia Games designs and develops networks, software and content that provide its customers with comprehensive gaming systems. The Company's development and marketing efforts focus on Class II gaming systems and Class III video lottery systems for use by Native American tribes throughout the United States.

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