For immediate release

Vienna, 30.11.2004 --- Casinos Austria International (CAI) today announced it is set to acquire all ten casinos in Lower Saxony, Germany from Spielbanken Niedersachsen GmbH (SNG). The deal represents the biggest expansion in the company's history and its first move into the German market. The official State Government ruling is expected for mid-December and is subject to approval from Lower Saxony's Gaming Commission.

In a cabinet meeting held today, November 30, the State Government of Lower Saxony gave the green light to the sale of the State's ten casinos to Casinos Austria International. The Austrian company was successfully chosen from over 20 international bidders in a Europe-wide tender procedure. The CAI bid was backed by the company's many years of experience and proven record of success in the international casino industry and its strong commitment to and focus on responsible gaming. The Austrian company's bid was also selected for its innovative concept, which foresees positioning the casinos in Lower Saxony to offer a wide range of entertainment possibilities and thus increasing their appeal.

Under the terms of the agreement, CAI will acquire 100% of the shares in SNG at a purchase price of EUR 90.6 million. In addition, the company will also invest over EUR 40 million in the casinos in the coming years. In 2003/04, SNG posted gross gaming revenues of around EUR 108 million. CAI aims to reverse the recent downward trend in gaming revenues, thus securing the jobs of around 500 employees and increasing the amount of taxes paid to the State.

The sale of the ten previously state-owned casinos (in Bad Bentheim, Bad Harzburg, Bad Pyrmont, Bad Zwischenahn, Borkum, Hanover, Hittfeld, Norderney, Osnabrück, and Wolfsburg) has been made possible by the impending changes to the State's Gaming Act. Lower Saxony like Austria has a population of around eight million people. The new Gaming Act also includes a provision for Internet gaming. When the new regulation comes into force, Casinos Austria plans to implement the model used for its successful Austrian Internet gaming platform www.win2day.at in Lower Saxony.

About Casinos Austria International
Casinos Austria currently operates 67 casinos in 15 countries, including 53 land-based casinos on all continents and 14 casinos on board international cruise liners. In 2003, the Group welcomed around 16 million guests to its casinos worldwide. In 2003, the Casinos Austria Group posted total revenues of EUR 2.32 billion, an increase of 12.5% over the previous year (2002: EUR 2.07 billion).

In 2005, CAI will begin yet another extraordinary chapter in its international expansion success story, when it opens the first and only casino in the EU capital, Brussels.

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For further information, please contact:

Hermann Pamminger
Head of Corporate Relations and Customer Care
Tel. +43-1-53440-527
E-mail: hermann.pamminger@casinos.at