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GTECH AWARDED MULTI-YEAR, INTEGRATED SERVICES CONTRACT WITH THE GEORGIA LOTTERY CORPORATION
Company to Deliver Enterprise Series Solution and Wireless Telecommunications Network

WEST GREENWICH, RI — (November 15, 2002) — GTECH Holdings Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH Corporation, has been awarded a contract by the Georgia Lottery Corporation to provide equipment for an online gaming system and related services. GTECH will also provide the Georgia Lottery with a new wireless telecommunications network. The seven-year integrated services contract, which is expected to commence on September 10, 2003, follows a competitive bidding process that involved a number of vendors.

"This win is yet another market validation of GTECH's Enterprise Series solution," said GTECH President and CEO W. Bruce Turner. "With Enterprise Series, GTECH will provide the Georgia Lottery with a system that fully integrates lottery games and related administrative systems and services, to meet the requirements of the Lottery, now and in the future.

"The highlight of this partnership is a mutual understanding that GTECH will bring to the Georgia Lottery new, innovative applications and solutions that will enhance both gaming content and the entire value chain for lottery retailers," continued Mr. Turner.

Upon contract execution, GTECH will replace the Georgia Lottery's current online system with GTECH's Enterprise Series^TM architecture, featuring internet protocol (IP) web component technology. Enterprise Series embraces a new industry paradigm for design and integration of secure lottery networks and open applications. In addition, GTECH will replace the Georgia Lottery's existing telecommunications network with a state-of-the-art, IP-based wireless communications system, which provides highly secure and reliable communication between a central hub and lottery retailers.

GTECH initially will replace the Georgia Lottery's current terminal base with approximately 7,600 GTECH® Altura® terminals, with the capability for the Lottery to grow to 10,000 terminals over the contract period. 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.

The Alturas will feature GTECH's AlturaVision, a video display system that allows the development, delivery, and display of text, graphics, animations, and other multimedia objects on a display device (such as a television or LCD monitor) located in a retail establishment. Selected retailers will also be equipped with GTECH's NextVision®, the Company's high-end gaming display system.

"As one of the most successful lotteries in the world, the Georgia Lottery must continue to provide innovation and the ability to respond to changes in the industry and the demands of the marketplace," said Mr. Turner. "As the Georgia Lottery's partner, GTECH is ready and willing to assist the Lottery in meeting those demands, and in growing and enhancing their important financial contributions to the educational programs in the state of Georgia."

GTECH will provide the Georgia Lottery with ongoing services including gaming system design, delivery and ongoing operations; terminal installation and maintenance; field services; hotline management; lottery staff and retailer training; marketing support; and telecommunications network management and maintenance.

GTECH anticipates generating revenues of approximately $275 - $300 million over the life of the contract.

Since 1993, GTECH has provided lottery equipment and services to the Georgia Lottery, which is the fifth largest lottery in the United States and the tenth largest in the world, in terms of total sales. In the Georgia Lottery's fiscal year ended June 30, 2002, the Georgia Lottery achieved total sales in excess of $2.45 billion. Since its inception in 1993, the Georgia Lottery has raised over $5.6 billion for the state's educational programs, which encompass the HOPE Scholarship Program, Pre-kindergarten Program, and Technology Grants and Capital Outlay projects for educational facilities.

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 the Georgia Lottery, (ii) the future operating and financial performance of the Company under any contract negotiated with the Georgia Lottery with respect to the award that is the subject of this press release, and (iii) the ability of the Company to reach agreement with the Georgia Lottery respecting such award. 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 ability of the Company to reach agreement with the Georgia Lottery on the terms set forth in this press release; (ii) the possibility of slower than expected growth or declines in sales of lottery goods by the Company or the Georgia Lottery; (iii) the possibility of substantial penalties under and/or termination of the Company's contract with the Georgia Lottery; (iv) the ability of the Company to respond to technological change and to satisfy the future technological demands of the Georgia Lottery; (v) opposition to expansion of lottery and gaming; (vi) the Company's ability to attract and retain key employees.

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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 www.gtech.com.