PR Newswire US, January 25, 2005, Tuesday

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PR Newswire US

January 25, 2005 Tuesday

HEADLINE: Paget Alves Appointed to GTECH's Board of Directors

DATELINE: WEST GREENWICH, R.I. Jan. 25

BODY:
WEST GREENWICH, R.I., Jan. 25 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK) announced today that Paget L. Alves has been appointed to serve as a director on the Company's Board of Directors. In connection with the appointment, the Company also announced that the size of its Board of Directors has been increased from eight members to nine members. Mr. Alves will be nominated for election to GTECH's Board of Directors at the Company's 2005 Annual Shareholders' Meeting.
"Paget brings more than 20 years of telecommunications industry leadership, and operational, financial, strategic, and public company expertise to GTECH's Board of Directors," said Robert M. Dewey, Jr., GTECH Board Chairman. "His vast experience and independent perspective will clearly benefit GTECH as we continue to build the Company for the future."
Over the past several years, Mr. Alves has served in senior leadership capacities for a variety of telecommunications/technology companies including Sprint, PointOne Telecommunications, Centennial Communications, Murata Business Systems, and IBM.
Mr. Alves currently serves as President of Strategic Markets, a business unit of the Sprint Business Solutions division, with responsibility for Sprint's 100 largest business customers, systems integrators, international customers, access and wholesale carriers, and cable ventures.
Mr. Alves holds both a Bachelor of Science degree in industrial and labor relations from Cornell University and a Doctor of Jurisprudence from the Cornell Law School.
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. The Company identifies forward-looking statements by words such as "may," "will," "should," "could," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," or similar words that refer to the future. 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 and gaming 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 and gaming industries; (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; and (xiii) the possibility of adverse determinations in pending legal proceedings.
GTECH, a leading global information technology company with over $1 billion in revenues and more than 5,400 people in over 50 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 commercial gaming technology and financial services transaction processing. For more information about the Company, please visit GTECH's website at http://www.gtech.com/ .
Contact:
Robert K. Vincent
Public Affairs
GTECH Corporation
401-392-7452
CONTACT: Robert K. Vincent, Public Affairs of GTECH Corporation,
+1-401-392-7452Web site: http://www.gtech.com/