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WISCONSIN LOTTERY INVITES GTECH TO NEGOTIATE NEW FIVE-YEAR CONTRACT

(West Greenwich, Rhode Island  -- November 12, 2002) – GTECH Holdings Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH Corporation, has been selected to negotiate a contract with the Lottery Division of the Wisconsin Department of Revenue (the Wisconsin Lottery) to supply a new online and instant-ticket lottery system, and related telecommunication network. The five-year integrated services contract, which is expected to commence on June 15, 2004, will include four one-year extension options and follows a competitive bidding process.

"We are delighted the Wisconsin Lottery has elected to continue its partnership with GTECH," said GTECH President and CEO W. Bruce Turner. "We offered the Wisconsin Lottery a fully integrated solution that will not only improve the Lottery's current business processes, but will also provide the highest level of reliability, security, and integrity. Enterprise Series will enable the Lottery to expand its product distribution and, more importantly, will provide for a future growth path of its retailer network."

Upon successful completion of negotiations, GTECH will replace the Wisconsin Lottery's current system with GTECH's Enterprise Series™ architecture, featuring internet protocol (IP) web component technology. Enterprise Series embraces a new industry paradigm for the design and integration of secure lottery networks and open applications.

GTECH will also replace the Wisconsin Lottery's current terminal equipment with approximately 3,200 GTECH® Altura® terminals. The Altura offers high-performance PC-based architecture and advanced software capabilities that facilitate the rapid introduction of new games and future lottery applications. The Altura terminal provides a wide variety of innovative features including a high speed imaging reader, a thermal printer, and advanced applications.

GTECH will also supply the Wisconsin Lottery with its next-generation, small footprint Altura product, which allows retailers to generate online wagers and validate instant tickets.

In addition, GTECH will replace the Wisconsin Lottery's existing communications network with a dedicated, IP-based satellite communications system, which provides highly secure and reliable communication between a central hub and retailer locations.

GTECH will provide ongoing services to the Wisconsin Lottery including system design, delivery and ongoing operations; terminal installation and maintenance; retailer training; field services; hotline management; and telecommunications network management and maintenance.

GTECH anticipates generating revenues of approximately $50 - $55 million over the initial term of the contract.

"Working together, GTECH will continue to support the Lottery's mission of achieving the highest possible revenue for property tax relief for the citizens of Wisconsin," continued Mr. Turner.

The Wisconsin Lottery has been a valued GTECH customer since 1989. In its fiscal year ended June 30, 2002, the Wisconsin Lottery generated sales of over $427 million. In Wisconsin, lottery profits are earmarked for property tax relief.

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 4,300 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.