TransAct Technologies Incorporated Receives $11 Million Order From GTECH Corporation

Business Wire, Sept 8, 1999

WALLINGFORD, Conn.--(BUSINESS WIRE)--Sept. 8, 1999--

TransAct Technologies Incorporated (NASDAQ: TACT), announced today that it has received an order for approximately $11 million from GTECH Corporation (NYSE: GTK), the world's leading supplier of computerized on-line lottery systems. The new order for printers placed by GTECH is under an exclusive OEM agreement entered into in July of this year. The order specifies quantities to be manufactured and delivered throughout calendar 2000.

The OEM agreement expires 2004, but provides that service and replacement parts for TransAct's printers will be offered to GTECH for five years after the OEM agreement expires.

Bart Shuldman, TransAct's President and Chief Executive Officer, said, "We are pleased to report this significant order for delivery in 2000, continuing the strategic relationship with GTECH which began in 1993."

TransAct designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA(R) and MAGNETEC(R) brand names. The Company's printers are used to provide transaction records such as receipts, tickets, and coupons, register journals and other documents. TransAct serves four vertical markets: point-of-sale, gaming and lottery, financial services and kiosk. The Company sells its products directly to end users, original equipment manufacturers, value-added resellers and selected distributors. Please visit TransAct's website located at http://www.transAct-tech.com to receive more information about the Company's products and selected financial data.

This release contains certain forward-looking statements that are subject to various risks and uncertainties, including, but not limited to, demand and competition for the Company's products, which could cause actual results to differ materially. These and other risks and uncertainties are detailed in the Company's Securities and Exchange Commission filings.