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Tabcorp to Supply Chinese Lottery

14 Jun 2005

AUSTRALIA – (PRESS RELEASE) -- Tabcorp Holdings Limited (TAH) today announced that it has entered into a joint venture arrangement to provide systems and support services to the lottery market in the People's Republic of China. China Lotsynergy is a wholly owned subsidiary of Worldmetal Holdings Ltd. and will have a 33% stake in the joint venture, while Tabcorp retains a 67% interest. Monetary considerations, including the outright cost of the joint venture between Tabcorp subsidiary, Tabcorp International No. 1, and China Lotsynergy wasn't disclosed.

The joint venture shareholders' agreement, if completed, will provide lottery operating systems, terminals, proprietary intellectual property rights and other technological support services to, and cooperating with, the Keno lottery market operators authorised by the People's Republic of China.

Completion of the joint venture is conditional on regulatory approvals from the Chinese government, the Melbourne-based gaming and casino company said.

At 1254 AEST, shares in Tabcorp were trading 4c lower at $16.40.

 
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