BGI Announces Seizures of its Bank Accounts - Advises Operators of Charity Station Machines to Suspend Operations.Business Editors & Gaming Writers AUSTIN, Texas--(BUSINESS WIRE)--Feb. 1, 2002 BGI BGI Barclays Global Investors BGI Bainbridge Graduate Institute BGI Bureau Gravimétrique International BGI Borland Graphic Interface (File Name Extension) BGI Bridgetown, Barbados - Grantley Adams International Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BGII BGII Baldur's Gate II: Shadows of Amn (computer game) ) today announced that it has become aware that all of the funds held in the Company's bank accounts located in Texas were seized late yesterday afternoon. The Company believes that the seizures were made at the request of the Texas State Lottery A game of chance operated by a state government. Generally a lottery offers a person the chance to win a prize in exchange for something of lesser value. Most lotteries offer a large cash prize, and the chance to win the cash prize is typically available for one dollar. Commission. In light of this development the Company has advised all operators of locations where its Charity Station machines are located to suspend their operations. The Company believes it has meritorious bases for reclaiming both its previously seized Charity Station machines and the funds seized from its bank accounts and is vigorously pursuing legal remedies available to it to recover the seized machines and funds. BGI Inc. is a gaming company that designs, distributes and markets sweepstakes-driven gaming products. The Company's primary product -- the Charity Station -- combines entertaining, interactive games with various sweepstakes incentives, and are extensively used by non-profit organizations as an alternative means of fund raising. These unique products are placed by the Company's charity customers in non-profit venues, social clubs and other non-casino venues. BGI Inc. was founded in 1994 and has offices in Austin, Texas. The Company currently trades on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol BGII. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: These statements made by BGI Inc. (BGII) may be forward looking in nature, particularly as related to the business plans of the Company within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from projected statements. BGI Inc. believes that its primary risk factors include, but are not limited to the need for substantial financial requirements; the need to develop effective internal processes and system; changes in the overall economy; continued and future strategic alliances; changes in technology; the number and size of competitors and the mix of products and services offered in its markets; and changes in the law and regulatory policy and the enforcement of such laws and policies. |
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