Following our relative response to ASE dated 01/08/2006 and ASE's letters dated 01/08/2006 and 02/08/2006, and in the context of providing the investment community with timely and accurate information in accordance with the articles 281 & 285 of the ASE's regulation with regards to commenting on press reports relating to the undertaking of the South African Lottery, our response is as follows:
The Minister of Commerce and Industry of South Africa announced that Gidani, in which INTRALOT's subsidiary, INTRALOT South Africa, participates, is the preferred bidder in the tender for undertaking the operation of the Lottery and providing the IT infrastructure. The contract will be awarded only when the relative contract will be signed with the competent Ministry. The process of negotiations and the official announcement of the competent authorities of South Africa in relation to the execution of the relative contract is estimated not to exceed a period of two months. INTRALOT's participation share in Gidani has not been finalized yet, while expected revenues in case the project is undertaken cannot be determined as this will be a result of negotiations with the competent authorities of South Africa. The duration of the project will be determined in the final text of the contract and will not exceed 8 years. As the negotiation process is still under way, when there will be a final outcome concerning the signature of the relative contract we will promptly inform the investment community and the regulating authorities, as provided by existing legislation.