GTECH Redeems Notes

WEST GREENWICH, Rhode Island – (PRESS RELEASE) -- GTECH Holdings Corporation announced today that it intends to redeem 100% of the principal amount outstanding of each of its three series of senior notes:

* its 4.75% Senior Notes due 2010 (the "2010 Notes"), issued in October 2003;

* its 4.50% Senior Notes due 2009 (the "2009 Notes"), issued in November 2004; and

* its 5.25% Senior Notes due 2014 (the "2014 Notes"), issued in November 2004.

The redemption date of each series of note will be October 2, 2006. In accordance with the terms of the applicable indentures, the redemption price of each series will be the greater of (i) 100% of the outstanding principal amount of the notes being redeemed, and (ii) the sum of the present values of the principal amount of such notes and the remaining scheduled payments of interest on such notes (exclusive of interest accrued to the redemption date), in each case discounted from their respective scheduled payment dates to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate computed in accordance with the applicable indenture plus 20 basis points (for the 2010 Notes and the 2014 Notes) or 15 basis points (for the 2009 Notes), plus in each case accrued and unpaid interest on the principal amount being redeemed to the redemption date. The treasury rate will be determined by the quotation agent on the third business day prior to the redemption date, in accordance with the applicable indentures.

The redemption price of each series of senior notes and accrued interest will become due and payable on the redemption date, and from and after that date, interest will cease to accrue and be payable. Payment of the redemption price will be made only upon presentation and surrender of the applicable senior notes in the manner specified in the related notice of redemption for the applicable series of senior notes, which has been mailed to registered holders of the senior notes by The Bank of New York, as trustee for the 2010 Notes, or by SunTrust Bank, as trustee for the 2009 Notes and the 2014 Notes, as the case may be. Copies of the applicable notice of redemption for the 2010 Notes may be obtained from The Bank of New York at (800) 254-2826, and copies of the notice of redemption for the 2009 Notes and the 2014 Notes may be obtained from SunTrust Bank at (404) 588-7266.