A resumption in GPT’s core business of manufacturing and selling automated currency acceptance and validation systems used in a variety of payment applications worldwide, complimented by new products and addressing new markets has put GPT back in the Black, and showing strong growth.
Hauppauge, New York, July 12, 2001 – Global Payment Technologies, Inc. (NASDAQ Symbol: GPTX) (“GPT”), a leading manufacturer and innovator of currency acceptance systems used in the worldwide gaming, beverage, and vending industries today announced that it has signed a new two-year Supply Agreement (the “Agreement”) with Aristocrat Technologies Australia Pty Ltd. (“Aristocrat”), through its affiliate Global Payment Technologies Australia Pty Ltd. (“GPT-Australia”). Aristocrat, a Sydney, Australia based company, is the second largest manufacturer of gaming machines in the world, and the leader in the substantial Australian gaming market. The Agreement calls for GPT to be the “Most Favored Supplier” for the Australian, New Zealand and South African gaming markets and, as such, GPT will be the currency validating equipment used as the standard by Aristocrat in its gaming machines for these markets. As in prior Agreements, this does not preclude Aristocrat from using alternative currency validating equipment.
Stephen Katz, GPT’s Chairman and CEO, said, “Since 1995, Aristocrat and GPT have forged a close working relationship that began with the development of GPT’s Generation II product. Since that time, our sales, marketing and engineering departments have continued to work closely to create a mutually beneficial partnership, which includes local sales, Ligaz888 service and support provided by our affiliate, Global Payment Technologies Australia Pty Ltd. The new Agreement is a natural progression of our long-standing business relationship that spans more than six years and marks a strong beginning for the next phase of our growing partnership. We are pleased to continue to supply Aristocrat, one of the leading gaming companies in the world and the premier gaming company in Australia, what GPT believes to be, the best note validation equipment available today. We look forward to supporting Aristocrat as they continue their unprecedented growth and global expansion.”
Global Payment Technologies, Inc. is a United States-based designer, manufacturer, and marketer of automated currency acceptance and validation systems used to receive and authenticate currencies in a variety of payment applications worldwide. GPT’s proprietary and patented technologies are among the most advanced in the industry. Please visit the GPT web site for more information at http://www.gpt.com.
Aristocrat Leisure Limited (Aristocrat) – (ASX: AU:ALL) is the leading supplier of gaming machines in Australia and the largest gaming systems Company in the world. Founded in 1953, the Company has 1700 employees and holds more than 100 licenses and/or regulatory approvals throughout the world (including the US), serving customers in 20 countries. Aristocrat has applied for more than 1400 patents, trademarks and designs and has been named “Innovator of the Year” by Business Review Weekly magazine. The Company pioneered the industry move to video technology and supplies its customers with multiple platforms through multiple delivery systems. Please visit the Aristocrat web site for more information at http://www.aristocrat.com.au.
Special Note Regarding Forward-Looking Statements: A number of statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include, but are not limited to: GPT’s dependence on the paper currency validator market and its potential vulnerability to technological obsolescence; the risks that its current and future products may contain errors or defects that would be difficult and costly to detect and correct; possible risks of product inventory obsolescence; expectations as to the market for slot machines in South Africa; regulatory approval; potential manufacturing difficulties; potential shortages of key parts and/or raw materials; potential difficulties in managing growth; dependence on a limited base of customers for a significant portion of sales; dependence on key personnel; the possible impact of competitive products and pricing; and other risks described in more detail in GPT’s Securities and Exchange Commission filings.