Investrend Announces Investment Opinion: Analyst Piyali Chakravarty Questions if MDI Entertainment Shareholders are Receiving Full Value in Proposed Scientific Games Acquisition.

Business Editors

NOTE TO EDITORS: The following is an investment opinion issued by

Investrend Research

NEW YORK--(BUSINESS WIRE)--Feb. 27, 2002

Investrend Research analyst Piyali Chakravarty is questioning whether MDI Entertainment (OTCBB:LTRY) shareholders are receiving full value in the company's proposed all-stock acquisition by Scientific Games (NASDAQ: SGMS) pegged at $2.10 per share.

Chakravarty notes that the market seemed to be validating her 12-month target of $5 by bidding up the company's shares to $3.65, 231% above her report price ($1.10) only last week, and was at $3.25 when the acquisition was announced.

She also points out that at the time the proposed merger was announced, Chakravarty was preparing a research update stating that the company's FY01 fully diluted EPS of $0.28 beat her expectations by 8-cents; and that 4Q01 fully diluted EPS numbers at $0.14 beat her estimates of $0.05 by 9-cents.

Coincidentally, both Scientific Games and MDI Entertainment have current coverage by Investrend analysts. Scientific Games recently surpassed Investrend analyst Gerald LaKarnafeaux's 12mo target of $8.50. Chakravarty is the MDI Entertainment analyst only.

The full ResearchNote is posted at http://www.investrend.com, and Chakravarty's comments may be heard on AnalystBroadcast.Network at http://viavid.com/vvasx/0000046F00000000.asx.

To receive research alerts about either company, write [e-mail] and put "LTRY" or "SGMS" in the subject line.

Piyali Chakravarty is a member of AIMR and the New York Society of Security Analysts. She has experience in equity research and corporate credit analysis and has served institutional and retail clients. Most recently she was a Securities Analyst with Argus Research in New York City. Prior to that, she was an equity analyst for Lazard Brothers and a corporate credit analyst for Credit Lyonnais Bank. She has also worked at T&L Investments as a currency investment consultant. She is a Level 2 candidate in the Chartered Financial Analyst Program. Ms. Chakravarty received an MBA with Honors from Point Park College in Pittsburgh and an Advanced Professional Certificate in Accounting from Pace University in New York.

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