Paget Alves Appointed to GTECH's Board of Directors
26 January 2005 - 4:40AM
PR Newswire (US)
Paget Alves Appointed to GTECH's Board of Directors 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 DATASOURCE:
GTECH Holdings Corporation CONTACT: Robert K. Vincent, Public
Affairs of GTECH Corporation, +1-401-392-7452 Web site:
http://www.gtech.com/
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