Pollard Banknote granted extension to the Massachusetts Lottery contract

    YPSILANTI, MI, Nov. 5 /CNW/ - Pollard Banknote was recently awarded a
one-year extension to its contract with the Massachusetts Lottery to supply
instant tickets and related services. Based on previous billings and current
trends, this supplementary term is expected to be worth approximately
$2.5 million (US). This latest agreement extends the company's partnership
with the Lottery until August 2008, with an additional one-year extension
still possible.
    "It's a point of real pride for our company to be given the opportunity
to continue building on the relationship we've established with the
Massachusetts Lottery over the past few years," said Gordon Pollard, Co-Chief
Executive Officer, Pollard Banknote. "Their premiere standing and successful
business model make it all the more significant that we've become so favorably
associated with this pioneering lottery."
    Pollard Banknote is expected to print a number of games for the
Massachusetts Lottery as part of the current contract extension. Most
recently, this relationship was expanded with the introduction of extended
play games featuring the company's patented translucent marking system. These
games form an integral part of the Lottery's strategic plan to offer products
capable of satisfying the demands of a broader player base.
    Founded in 1971, the Massachusetts Lottery distributes proceeds to local
governments according to an aid formula established by the state's legislative
body-funds that are subsequently dispersed to whatever programs and services
these municipalities judge most in need. Last year, the Lottery's contribution
totaled $761 million in direct assistance of this nature.

    About Pollard Banknote Limited Partnership

    Pollard Banknote Limited Partnership ("Pollard Banknote") is one of the
world's leading full-service lottery vendors and is a major supplier to North
America's charitable gaming industry. The firm manufactures instant tickets
and provides related programming, design, and marketing support. As well,
Pollard Banknote manufactures ticket vending machines, pull tab tickets and
bingo paper, and supplies lottery management services (including warehousing
and distribution). Established in 1907, the firm is owned by the Pollard
family and the Pollard Banknote Income Fund and currently serves more than 45
lotteries worldwide, including some of the largest and most respected
lotteries in the United States, Canada, Europe, Asia, and Central and South

    About Pollard Banknote Income Fund

    Pollard Banknote Income Fund (TSX: PBL.UN) is an unincorporated, open-end
trust which owns 26.7% of Pollard Holdings Limited Partnership, which in turn
owns Pollard Banknote Limited Partnership.

    Forward-Looking Statements

    This press release may contain forward-looking statements relating to
expected future events and financial and operating results of the Pollard
Banknote Income Fund ("the Fund") or Pollard Holdings Limited Partnership that
involve risks and uncertainties. Actual results may differ materially from
management expectations as projected in such forward-looking statements for a
variety of reasons, including market and general economic conditions and the
risks and uncertainties detailed from time to time in the Fund's periodic
reports and registration statements filed with the Canadian securities
regulatory authorities. Due to the potential impact of these factors, the Fund
disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise,
unless required by applicable law.

For further information:

For further information: Gordon Pollard (gpollard@pbl.ca) or John
Pollard (jpollard@pbl.ca), Co-Chief Executive Officers, Phone: (204) 474-2323,

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