Pacific Lottery Corporation

Pacific Lottery Corporation

November 20, 2008 19:39 ET

Pacific Lottery Corporation Operational Update

CALGARY, ALBERTA--(Marketwire - Nov. 20, 2008) - Pacific Lottery Corporation (TSX VENTURE:LUK) (FRANKFURT:PCF) (the "Corporation") is pleased to provide the following operational update. The new Vietnamese state run online lottery program recently launched, exclusively using the Corporations next generation national online lottery technology, has operated efficiently and smoothly for the past 7 weeks without any technical difficulties. Recent flooding in Vietnam has caused no damage or had any effect on the daily operations of the new online system. The Corporation has been advised that the Vietnamese Government is pleased with the online systems operation and continues to encourage the ongoing expansion of the new online lottery program exclusively using the Corporation's technology.

As well, the Corporation is continuing its marketing efforts and has intensified some of its more successful local Vietnamese marketing programs in order to enhance the ongoing education and adoption of the new online lottery games being offered to the general public.

The management of the Corporation has no explanation for the recent drop in the share price of the company. "There are no operational reasons which could explain the latest volatility in the share price", states David W. Jones, senior executive of the Corporation. In regard to the current financial crisis it is possible that investors sell their shares for liquidity reasons. "Operationally the Corporation is not affected by the current crisis. The lottery business remains independent of these economic trends."

About Pacific Lottery Corporation:

Pacific Lottery Corporation is engaged in the provision of comprehensive computerized on-line lottery technology and related professional services for delivery to a growing audience of international customers. Today, the Corporation exclusively leads the technical support activities for the only authorised State run on-line lottery program in Vietnam.

SEC 12g exemption 82-4832

This release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which could cause actual results, performance or achievements of the Company, or industry results to differ materially from those reflected in the forward-looking statements. Forward-looking statements are based on the current expectations, projections and opinions of the Company's management, and the Company undertakes no obligation to publicly release the results of any revisions to such forward-looking statements which may be made, for example to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

The TSX Venture Exchange and the Deutsche Borse have not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release.

Contact Information

  • Pacific Lottery Corporation
    Jill L.E. Johnson
    (403) 266-8900
    (403) 266-8909 (FAX)
    Pacific Lottery Corporation
    480, 2710 17th Avenue S.E.
    Calgary, Alberta T2A 0P6