BGI Reviews Texas Supreme Court Ruling Against 8-Liners.Entertainment Editors/Business Editors/Legal Writers AUSTIN, Texas--(BUSINESS WIRE)--April 4, 2003 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) ) announced that the Texas Supreme Court through a ruling yesterday placed significant additional restrictions on the operation of 8-liners in the State of Texas. Although the Company believes its machines are used to conduct a bona-fide promotional sweepstakes and therefore are not regulated by the laws relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 8-liners, many times regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities do not distinguish the difference between the Company's machines and 8-liners. The Company is in the process of reviewing the Supreme Court decision with its legal counsel and various local regulatory authorities to determine its impact on the Company's operations. At this time, the Company is planning on shutting down at least one location next week as a result of conversations with local regulatory authorities. This location operates 66 of the Company's 234 machines currently being operated in Texas. About BGI Inc. BGI Inc. (http://www.bgicorp.com) 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 used by non-profit organizations as a means of fund raising. These 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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