Pacific Lottery Corporation

Pacific Lottery Corporation

July 02, 2008 16:30 ET

Pacific Lottery Corporation Expands Delivery and Installation of Its Next Generation Computerized On-line Lottery Technology in Vietnam

CALGARY, ALBERTA--(Marketwire - July 2, 2008) - Pacific Lottery Corporation (the "Corporation") (TSX VENTURE:LUK) is pleased to announce that it has reached the midpoint of its scheduled implementation program and is continuing to rapidly expand the delivery and installation of its On-line Lottery and Terminal technology to State authorised lottery retailers, in accordance with its recently signed exclusive ten (10) year technology supply and services contract. To date the Corporation has achieved the successful integration and harmonious operation of the Corporation's Central Server System with the newly delivered and installed On-line Lottery Terminals (the "Lottery Terminals") at numerous retailer shops through a recently established system wide communications network. On a daily basis, the Corporation continues to roll out the On-line Lottery retailer network (Vietnam's only authorised On-line lottery) by delivering and installing its next generation computerized On-line Lottery Terminals to the authorised lottery retailers.

The Corporation expects to complete the first phase of the delivery and installation of its newest innovative Lottery Terminals to State authorised lottery retailers over the course of the next few weeks and, thereafter, continuing to expand the On-line lottery retailer network on the established program schedule. Once the required installations are completed, the launch of Vietnam's new On-line Lottery program, offering several new customised daily and weekly numbers and Lotto games (utilizing the Corporation's next generation On-line Lottery technology) will follow shortly thereafter.

The delivery and installation of the Corporation's technically superior On-line Lottery Terminals is being conducted under an exclusive agreement with the designated Vietnamese authorities and is part of the Corporation's larger installation plan for Vietnam, a lottery market that is generally acknowledged to require several thousand Lottery Terminal outlets before market saturation is achieved.

Further, the Corporation is proud to announce that during the ongoing installation process additional highly qualified operational personnel have been taken on board and subsequent to the recently completed Annual General Meeting of Shareholders (the "AGM") where all proposed resolutions were approved by the Shareholders, the Board of Directors met and granted new options to a new employee to purchase 30,000 common shares at an exercise price of $ 0.50 per common share. These options are subject to the statutory four (4) month hold period from date of issue and have a five (5) year term from today's date of grant. The issuances of these options are subject to standard regulatory approval.

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 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 has 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