GTK Gtech

GTECH Names Walter DeSocio Senior Vice President, General Counsel, and Corporate Secretary WEST GREENWICH, R.I., Jan. 6 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK) today announced that Walter G. DeSocio has joined the Company as Senior Vice President, General Counsel, and Corporate Secretary. Reporting to W. Bruce Turner, GTECH President and Chief Executive Officer, DeSocio is responsible for managing and overseeing all legal matters for the Company. As part of these efforts, DeSocio also serves as Corporate Secretary to GTECH's Board of Directors. "We consider ourselves fortunate to add such a talented, multi-faceted business attorney to our senior management team," said Mr. Turner. "Walter is a great addition and brings a solid background in corporate governance, compliance, and Sarbanes-Oxley regulations. His proven leadership and extensive legal and business expertise will be important factors in achieving our strategic business objectives." DeSocio most recently served as Chief Administrative Officer, General Counsel, and Corporate Secretary at Internap Network Services Corporation, the leading provider of intelligent routing services over the Internet, where he was responsible for the company's corporate administration, human resources, and legal and regulatory activities, and played an instrumental role in the development and execution of Internap's strategic imperatives. Prior to joining Internap, DeSocio was General Counsel and Senior Vice President of Regulatory Affairs at Concert B.V., the multi-billion dollar global communications business owned by AT&T and BT Group. Previous to that, DeSocio was AT&T's Chief Regional Counsel for Europe, Middle East, and Africa, with legal responsibility for all of AT&T's international business activity outside of the U.S. DeSocio earned his Bachelor of Arts degree in Political Science from Colgate University, his Juris Doctor from New York Law School, and an LL.M. degree with valedictory honors from Cambridge University (Corpus Christi College) in England. 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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