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GTECH Corporation and Innova Capital Announce the Sale of POLCARD to First Data International

GTECH Corporation and Innova Capital Announce the Sale of POLCARD to First Data International

ROME, and PROVIDENCE, R.I., March 30 /PRNewswire/ -- Lottomatica S.p.A.'s wholly-owned subsidiary GTECH Corporation, and Warsaw-based private equity investment advisor Innova Capital Sp. z o.o., announced that the companies have agreed to sell their equity stakes in POLCARD S.A. to First Data International for an enterprise value of approximately euro 243 million, on a debt-free, cash-free basis, at current exchange rates. GTECH currently holds a 74.43% controlling equity interest in POLCARD and 25.24% is held by Innova Capital. The remaining 0.3% will be retained by the Polish Bank Association.

POLCARD is the leading debit/credit card merchant transaction acquirer, bank-card issuer, and ATM management company in Poland, with a nationwide retail network of more than 58,000 electronic acquiring devices and well- established relationships with many of the country's leading card-issuing banks. POLCARD's net revenue for calendar 2006 was approximately euro 35 million.

The sale of POLCARD is contingent upon the approval of the Polish Competition and Consumer Protection Office and other customary closing conditions, and is expected to be completed by June 30, 2007. GTECH expects the net sale proceeds will be utilized for general corporate purposes.

The Company does not expect the 2007 - 2009 Strategic Plan presented in January 2007 to be materially impacted by the pending POLCARD transaction.

"We are pleased that the market recognized and appreciated the value we have created with POLCARD. We have worked diligently to grow and improve its operations and product offerings," said W. Bruce Turner, Lottomatica S.p.A. CEO and GTECH President & CEO. "Today's announcement is in line with our overall business strategy to move away from stand-alone commercial services opportunities. Going forward, our objective in this area is to pursue a lottery overlay model in which we add complementary commercial services in jurisdictions where we have existing lottery operations, particularly in Italy."

"POLCARD's growth over the last four years has exceeded our expectations. This is the result of exceptional performance of the management team, as well as the dynamic development of electronic transactions in our country," said Krzysztof Kulig, Innova Capital Partner. "Innova will expand on its POLCARD experience and continue to invest in the financial services sector in Central and Eastern Europe."

First Data International, part of First Data Corp. is a leading provider of electronic commerce and payment solutions for businesses worldwide. First Data International serves a diverse range of markets, leveraging global scale through a local presence and maintaining focus on individual client needs, and operates across Europe, Middle East and Africa, Latin America, Canada, Australia, and Asia-Pacific.

GTECH's and Innova's financial advisor with respect to this transaction is Credit Suisse. Five qualifying companies proceeded to the final round of bidding, and the entire process was completed over a five-month period.

About Lottomatica Group

Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider - a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by the De Agostini Group, a century-old publishing, media, and financial services company. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2006, had more than euro 1.6 billion in revenues and 6,000 employees in over 50 countries when combined with GTECH.

About Innova

Innova Capital is a leading private equity player in Central Europe, advising four investment funds in the region. Together with the newly launched fund, Innova/4 LP, a 225m mid-market buyout fund, Innova Capital has approximately euro 500 million under management. Innova's strategy focuses on building companies into market leaders that can compete with the best in their fields worldwide. Innova funds mainly invest in media, financial services, IT/telecommunication, business services and manufacturing. Innova Capital has been active on the market since 1994, and has invested over USD 300 million in 33 companies, including Mercor, POLCARD, EBCC, Euronet, Town&City, @Entertainment (presently called UPC).

For further information: AD HOC Communication Advisors 02/7606741 Mario Pellegatta - Matteo Cidda 335/1415585 This press release and the previous ones are available on the web site: http://www.adhoccommunication.it/ Lottomatica web site: http://www.gruppolottomatica.it/ GTECH contact: Robert K. Vincent Public Affairs 1-401-392-7452 GTECH web site: http://www.gtech.com/

GTECH Corporation

CONTACT: AD HOC Communication Advisors, 02-7606741, Mario Pellegatta or
Matteo Cidda, 335-1415585, http://www.adhoccommunication.it/ for GTECH; or Robert K.
Vincent, Public Affairs of GTECH, +1-401-392-7452

Web site: http://www.gtech.com/

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Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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