On November 21, 2003, INTRALOT S.A announced that its subsidiary in Cyprus INTRALOT BETTING OPERATIONS (CYPRUS) Ltd. notified the Cyprus Stock Exchange and the Capital Markets Commission of Cyprus its intention to make a public offer for the acquisition of a 50% stake plus one (1) share of the share capital of ROYAL HIGHGATE LTD for a price of 0.12 Cypriot Pounds per share. The procedure of this public offer will be conducted according to the rules of the Cypriot Legal System and more specifically the regulations of the Cyprus Capital Market.

The majority shareholders of ROYAL HIGHGATE LTD participate in INTRALOT BETTING OPERATIOS (CYPRUS) Ltd. as members of the board of directors and as shareholders, in which INTRALOT S.A holds a 54.95% stake.

As mentioned in INTRALOT BETTING OPERATIONS (CYPRUS) Ltd. ΒoD's announcement to the Cypriot Stock Exchange and the Capital Markets Commission of Cyprus, the purpose of this public offer is for ROYAL HIGHGATE LTD. to acquire, through the cooperation and collaboration with INTRALOT S.A, expertise in risk management, betting acceptance, advanced computerized on-line procedures, as well as the design of new games which will provide competitive advantages to the company.

It is expected that INTRALOT's expertise will be of a crucial importance for ROYAL HIGHGATE LTD in its effort to maximize the benefits from the developments in the Cypriot betting market in a profitable and competitive manner. It should be mentioned that ROYAL HIGHGATE LTD is listed in the Cyprus Stock Exchange since 2000 and holds a 26.5% market share of the betting market in Cyprus.