Vancouver, BC October 17, 2006: The Royal Indian Raj International Corporation (RIRIC) www.royalindianraj.com Chairman/CEO Manoj Benjamin states, "We are happy to facilitate up to two hundred fifty million US dollars ($250,000,000) financing for the Global Lottery Corporation, for the financing of individual projects on a draw down basis, to setup manufacturing, installation and/or operation of Lottery and Pari-mutuel Systems based on the contracts they have lined up and the permissions they have gained." He further states, "While Royal Indian Raj has large-scale credit facilities in place for construction of several real estate developments in India, we decided to form a strategic alliance with Global Lottery Corporation to pursue the inevitable implementation of a National Lottery throughout India as well as other opportunities World-wide. We see the immense benefits a National Lottery could bring to both Government and Community while giving India's 1.2 Billion population benefits only a Lottery can bring." Royal Indian Raj and Global Lottery will jointly pursue gaining Government support of the National Lottery of India.
Lord Michael Sandberg, CBE, Peer House of Lords, former World Chairman and CEO of HSBC, former Chairman Royal Hong Kong Jockey Club, and Chairman of the Advisory Boards of both Royal Indian Raj International Corporation and Global Lottery Corporations states, "I am pleased with the professionalism of the Officers and Directors of both companies in securing such a large credit facility sufficient to bid for both large and small Lottery Contracts Worldwide."
Gary A. Newman, Chairman/CEO Global Lottery Corporation states, "We are delighted with Royal Indian Raj's financial commitment. We can now pursue sales of Systems and Terminals to Governments and Lottery Operators alike, which were previously out of our scope of supply. Indeed, with many new Lotteries coming on line for the first time, and existing Lotteries either changing operators or simply upgrading systems, the future for the Industry as a whole looks very bright".
Global Lottery Corporation manufactures, installs and operates Lottery and Pari-mutuel Systems utilizing proprietary point-of-sale terminals, cell phones, the Internet and a state-of-the-art scaleable PC based central operating system. With these advanced systems, Global Lottery can now compete in the reported 11 Billion Euros of new business within the next 24-36 months.
Royal Indian Raj International Corporation, (RIRIC), incorporated in Nevada, USA, in March 1999 with offices in Vancouver, London and Bangalore, India, maintains a country-specific, 5-sector heavy infrastructure orientation, focused on the free world's largest emerging market, India. The company's goal is to develop the New India by modernizing housing and businesses and realizing self-sustaining cities of the future. RIRIC implements leading-edge technologies and products in strategic alliance with world-class international corporations. Partnered with these international leaders in their respective fields, RIRIC is focused on five of India's priority infrastructure sectors using a vertically integrated business strategy: Urban Infrastructure & Housing, Road Building & Recycling, Broadband Communications & IT Networks, eCommerce/IT & Education Applications, and Broadcast Content, Entertainment & Theme Parks.
RIRIC'S city projects, Royal Garden City - Bangalore, and the Royal Garden Marina City and Financial Harbor - Mumbai, are the first of six cities planned by the company. RGC Bangalore is a 3,000 acre sub-city development situated between downtown Bangalore and the new Bangalore International Airport. The USD $8.97 billion integrated Live/Work/Play development features over 146.36 Million Sq. Ft. of residential, commercial and industrial space to accommodate the burgeoning Bangalore market and has been planned and designed by the former Singapore public Works Department. The project is fifteen times the size of Canary Wharf in London, England.
Royal Garden Marina City and Financial Harbor, covering and area of 5,000 acres, is situated 16 nautical miles from the Gateway of India in downtown Mumbai. It will be Asia's largest real estate development and India's fist smart city, with 22.8 million square meters of high-tech retail, medical, education and housing facilities. The project comprises over 50,000 residential units, a central business district, industrial district, entertainment district, parks, restaurants, shopping, educational facilities and civic amenities. An estimated 400,000 to 600,000 people are expected to live, work and play within the city daily.
For more information, please visit our web sites at: www.rgvillas.com and www.riric.com
For additional Information on the Royal Indian Raj International Corporation please contact:
Bill Zack, Director of Communications
Tel: 705-268-3201
Cell: 404-376-7394
E-mail: bzack@royalindianraj.com
For additional Information on the Global Lottery Corporation please contact:
Gary A. Newman, Chairman/CEO
Global Lottery Corporation
Tel: 604-728-7552
Fax: 604-594-9644
E-mail: info@globallotterycorporation.com