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GTECH HOLDINGS CORPORATION NAMES TIMOTHY B. NYMAN SENIOR VICE PRESIDENT OF GLOBAL SERVICES

(West Greenwich, Rhode Island  -- October 15, 2002) – GTECH (NYSE: GTK) today announced that Timothy B. Nyman has been named Senior Vice President of Global Services. Mr. Nyman joined the Company in 1981 and most recently served as Vice President of Client Services.

"With over 22 years of industry experience, Tim has established himself as a valued and vital member of GTECH's management team," said GTECH President and CEO W. Bruce Turner. "His appointment to Senior Vice President of Global Services enables GTECH to benefit more broadly from his business acumen and strong leadership qualities, and I am confident that through his contributions, GTECH will continue to deliver value to its customers and stakeholders worldwide."

Reporting to David J. Calabro, GTECH Executive Vice President and Chief Operating Officer, Mr. Nyman will lead the Company's growth efforts to provide technology and services solutions, and operational management support to clients worldwide. GTECH's® U.S., Latin America, Brazil, Europe, Asia Pacific regions, and the Company's Lottery Marketing, Marketing Communications, and Client Services organizations will report directly to Mr. Nyman.

Since joining GTECH in 1981, Mr. Nyman has held a variety of roles of increasing responsibility including, among others, Product Manager, Director of Marketing, Director of International Operations, and Vice President of GTECH's Western Region.

During his tenure, Mr. Nyman has worked with over 30 GTECH customers, including the California Lottery, where he led the successful conversion of a 13,000-retailer network in 1993. Mr. Nyman has also been instrumental in the planning and installation of several new online lottery systems, domestically and internationally.

Mr. Nyman holds a Bachelor of Arts degree, with majors in Marketing, Accounting, and Finance, from Michigan State University. Mr. Nyman lives in Rhode Island with his wife, Diana, and son, Spencer.

Certain statements contained in this press release are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, without limitation, statements relating to the prospects and financial outlook for the Company, which reflect management assumptions regarding: (i) the future prospects for and stability of the lottery industry and other businesses in which the Company is engaged or expects to be engaged, (ii) the future operating and financial performance of the Company (including, without limitation, expected future growth in revenues, profit margins and earnings per share), and (iii) the ability of the Company to retain existing business and to obtain and retain new business. Such forward looking statements reflect management's assessment based on information currently available, but are not guarantees and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in the forward looking statements.

These risks and uncertainties include, but are not limited to, those set forth above, in the Company's subsequent press releases and on Reports by the Company on Forms 10-K, 10-Q and 8-K, and other reports and filings with the Securities and Exchange Commission, as well as risks and uncertainties respecting: (i) the potential impact of extensive and evolving government regulations upon the Company's business; (ii) the ability of the Company to continue to retain and extend its existing contracts and win new contracts; (iii) the possibility of slower than expected growth or declines in sales of lottery goods and services by the Company or the Company's customers; (iv) exposure to foreign currency fluctuations; (v) risks and uncertainties inherent in doing business in foreign jurisdictions; (vi) the relatively large percentage of the Company's revenues attributable to a relatively small number of the Company's customers; (vii) the fact that several of the Company's larger contracts are to be rebid within the next six months; (viii) the possibility of significant fluctuation of quarterly operating results; (ix) the intensity of competition in the lottery industry; (x) the possibility of substantial penalties under and/or termination of the Company's contracts; (xi) the ability of the Company to respond to technological change and to satisfy the future technological demands of its customers; (xii) opposition to expansion of lottery and gaming; (xiii) the Company's ability to attract and retain key employees; and (xiv) the possibility of adverse determinations in pending legal proceedings.

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GTECH, a leading global information technology company with $1 billion in revenues and 4,400 people in 43 countries, provides software, networks, and professional services that power high-performance, transaction processing solutions. The Company's core market is the lottery industry, with a growing presence in financial services transaction processing. For more information about the Company, please visit GTECH's website at http://www.gtech.com.