Scientific Games Stock Converted

9 Aug 2004

NEW YORK – (PRESS RELEASE) -- Scientific Games Corporation (Nasdaq: SGMS) announced that MacAndrews & Forbes, Scientific Games' largest stockholder, has converted all of its Series A preferred into shares of Scientific Games common stock. Following the conversion, MacAndrews & Forbes holds approximately 25% of Scientific Games' outstanding common stock. Pursuant to existing agreements, MacAndrews & Forbes retains the right to designate certain members of the Scientific Games board and to approve certain significant corporate transactions. The other holders of Series A convertible preferred stock have also converted their shares into Scientific Games common stock.

Ronald O. Perelman, Director and Chairman of MacAndrews & Forbes, said, "This has been a great investment for us. We are long term holders of the Company's common stock and we look forward to a continued productive relationship with the Company."

Lorne Weil, Chairman and Chief Executive Officer of Scientific Games, said, "Our relationship with MacAndrews & Forbes is a mutually rewarding one. We look forward to continuing it over the coming years."

About Scientific Games

Scientific Games Corporation is the leading integrated supplier of instant tickets, systems and services to lotteries, and the leading supplier of wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. Scientific Games' customers are in the United States and more than 60 other countries. For more information about Scientific Games, please visit our web site at http://www.scientificgames.com.

About MacAndrews & Forbes Holdings Inc.

MacAndrews & Forbes Holdings Inc. is a private diversified holding company with interests in consumer products, gaming, entertainment, financial services, private security, medical devices, biotechnology and other industries. Among the companies in which it holds interests are Revlon, Panavision, M&F Worldwide, Allied Security and Scientific Games.

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	Scientific Games Stock Converted 9 Aug 2004 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> NEW YORK – (PRESS RELEASE) -- Scientific Games Corporation (Nasdaq: SGMS) announced that MacAndrews & Forbes, Scientific Games' largest stockholder, has converted all of its Series A preferred into shares of Scientific Games common stock. Following the conversion, MacAndrews & Forbes holds approximately 25% of Scientific Games' outstanding common stock. Pursuant to existing agreements, MacAndrews & Forbes retains the right to designate certain members of the Scientific Games board and to approve certain significant corporate transactions. The other holders of Series A convertible preferred stock have also converted their shares into Scientific Games common stock. Ronald O. Perelman, Director and Chairman of MacAndrews & Forbes, said, "This has been a great investment for us. We are long term holders of the Company's common stock and we look forward to a continued productive relationship with the Company." Lorne Weil, Chairman and Chief Executive Officer of Scientific Games, said, "Our relationship with MacAndrews & Forbes is a mutually rewarding one. We look forward to continuing it over the coming years." About Scientific Games Scientific Games Corporation is the leading integrated supplier of instant tickets, systems and services to lotteries, and the leading supplier of wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. Scientific Games' customers are in the United States and more than 60 other countries. For more information about Scientific Games, please visit our web site at http://www.scientificgames.com. About MacAndrews & Forbes Holdings Inc. MacAndrews & Forbes Holdings Inc. is a private diversified holding company with interests in consumer products, gaming, entertainment, financial services, private security, medical devices, biotechnology and other industries. Among the companies in which it holds interests are Revlon, Panavision, M&F Worldwide, Allied Security and Scientific Games.