Autotote signs contract to upgrade parimutuel sustems at three largest Venezuelan racetracks.

NEW YORK--(BUSINESS WIRE)--Feb. 1, 1996--AUTOTOTE CORPORATION (NASDAQ/NMS:TOTE) a leading worldwide provider of wagering systems, today announced that its Autotote Systems, Inc. subsidiary has signed a five-year contract with Instituto Nacional de Hipodromos to modernize and expand the totalisator systems at the three largest racetracks in Venezuela: La Rinconada, Valencia and Santa Rita

The modernization will allow the systems to operate the "5 y 6 pool," similar to the "Pick 6" popular in the United States. The expansion will allow INH to increase the number of OTB facilities in Venezuela from 49 to 750 and to integrate the betting shops into a national, on-line computer system.

As part of the contract, Autotote will replace the existing computer system with a new system allowing connections to a significantly larger number of terminals and will also provide an additional 1,000 Autotrak II terminals to INH in two stages in an eight-month period to bring the total number of Autotote terminals in use there to approximately 1,500. Autotote has provided INH with parimutuel wagering systems for the past 40 years.

A. Lorne Weil, Chairman and CEO, said, "This contract affirms Autotote's position as the leading provider of parimutuel wagering systems in South America. Autotote's technology will allow faster tote systems at these three important tracks as well as the closer integration of Venezuela's OTB network.

AUTOTOTE CORPORATION designs and manufactures computerized wagering equipment and provides facilities management for use on racetracks, off-track wagering, lotteries and legalized sports betting facilities. Autotote's systems are in use in the United States, Europe, Central and South America, Canada, Mexico and the Far East.

CONTACT: Gregory W. Miller

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