Intralot sell stake in Helenic Lotteries

All,

Intralot have announced this morning that it has agreed the sale of its stake in Helenic Lotteries to OPAP for E20m.

The release states that as a result Intralot's service contract will be amended, but naturally does not yet give any commercial details.

Overall we think its a positive in light of the company’s liquidity position, which has to take priority at this stage. Also, the relationship with OPAP has clearly been uneasy for some time and this seems to be a cleaner division of roles.

Wolfgang