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GTECH SIGNS 12-YEAR CONTRACT EXTENSION WITH SAZKA
Continued Validation of GTECH Enterprise Series™ Platform and Altura® Terminals

(West Greenwich, Rhode Island  -- October 2, 2003) – GTECH Holdings Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH Corporation, has signed a 12-year contract extension to provide online lottery products and services to SAZKA, a.s., the operator of lottery and betting games in the Czech Republic. The contract extension will commence on January 1, 2006 and expire on December 31, 2017.

"This contract extension with SAZKA is further evidence of our commitment to providing customers with superior lottery technology, products, and services," said GTECH President and CEO W. Bruce Turner. "GTECH's Enterprise Series platform continues to be the clear choice for new customers, as well as existing customers, as demonstrated by today's announcement. We are grateful to SAZKA for continuing our partnership through 2017, and we look forward to working closely with them to expand and grow their business."

SAZKA joins a growing list of GTECH customers who have chosen the Company's Enterprise Series™ platform, including Rhode Island, California, Georgia, Minnesota, WestLotto (Germany), Wisconsin, Sweden, Trinidad & Tobago, and Florida.

Under the terms of the contract extension, GTECH will replace SAZKA's current online and instant ticket system with GTECH Enterprise Series architecture. Enterprise Series uses an open platform infrastructure that will give SAZKA the ability to capture emerging growth and management opportunities such as e-commerce applications, new game delivery, access through browser-based devices, sharing of networks and communications, and compatibility with other open third-party business management solutions.

GTECH will continue to operate from a data center in Prague and provide a variety of services to SAZKA including system and terminals installation and maintenance; telecommunications network operation and maintenance; retailer training; and hotline management.

This new agreement with SAZKA includes innovative agreements to partner in growth initiatives in selected non-lottery markets as well. Risk/Reward sharing opportunities, enabled by GTECH's technology and SAZKA's distribution model, are key to this future success.

As part of the agreement with SAZKA, GTECH also agreed to provide a $20 million performance deposit that will be repaid upon achievement of certain milestones beginning in 2006.

SAZKA has been a valued GTECH customer since 1992. With respect to its contract extension with SAZKA, GTECH expects to generate approximately $230 million over the contract extension period.

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 possibility of significant fluctuation of quarterly operating results; (viii) the intensity of competition in the lottery industry; (ix) the possibility of substantial penalties under and/or termination of the Company's contracts; (x) the ability of the Company to respond to technological change and to satisfy the future technological demands of its customers; (xi) opposition to expansion of lottery and gaming; (xii) the Company's ability to attract and retain key employees; (xiii) the possibility of adverse determinations in pending legal proceedings; and (xiv) the inability of the Company to successfully integrate the operations of companies that it acquires, and may thereby fail to realize the strategic and financial benefits that it expected from such acquisitions.

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GTECH, a leading global information technology company with $1 billion in revenues and 4,600 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.