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NEW LOTTERY GAME FEATURES $50,000 COLLEGE SCHOLARSHIPS

VIRGINIA LOTTERY AND VIRGINIA COLLEGE SAVINGS PLAN TEAM UP WITH 20 SCHOLARSHIP PRIZES

When the first Virginia Lottery ticket was purchased on September 20, 1988, there was just one game available: Match 3. Now, to celebrate the Lottery's 20th birthday, Match 3 is back – and with an exciting twist. Players can enter their non-winning tickets in a drawing for one of twenty $50,000 college scholarships established with the Virginia College Savings Plan, an independent state agency which administers Virginia's tax-advantaged 529 college savings programs.

The scholarships will be established as accounts in the Virginia Education Savings Trust (VEST), a 529 savings plan open to any U.S. citizen or legal resident, and may be used at public or private technical schools, community colleges and universities worldwide to pay for tuition, fees and other qualified higher educations expenses as defined in Section 117 of the Internal Revenue Code. The twenty scholarship winners will be drawn March 4, 2009.

"This partnership between the Virginia Lottery and the Virginia College Savings Plan is a natural," said Lottery Executive Director Paula I. Otto. "Lottery profits benefit Virginia's K-12 public education, so this is a chance for players to help a student continue his or her education."

"We are pleased to work with the Virginia Lottery to offer a vehicle to provide twenty winners a big jumpstart on paying for higher education," said Mary G. Morris, Executive Director of the Virginia College Savings Plan. "More importantly, this is an opportunity to highlight the twenty year record of the Virginia Lottery's contributions to K-12 education and to introduce individuals and families to VEST and the other tax-advantaged 529 college savings programs offered by the Virginia College Savings Plan."

The Match 3 Scratcher game will be available at Virginia Lottery retailers across the Commonwealth beginning September 18, 2008. The game features prizes ranging from $5 all the way up to $20,000. If a ticket does not win one of those prizes, it can be entered in the Birthday Scholarship Sweepstakes. Players can enter the sweepstakes via the Internet, text message or regular mail. The instructions can be found at www.valottery.com/birthday.

After the Virginia Lottery Grand Prize Drawing on March 4, 2009, the Virginia Lottery will fund the scholarship prizes and representatives of the Virginia College Savings Plan will assist the winners and designated beneficiaries in establishing VEST accounts with initial balances of $50,000.The beneficiaries will be eligible to use the funds for qualified higher education expenses when they are ready to go to college.

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VEST is an IRS Section 529 qualified tuition program administered by the Virginia College Savings Plan. VEST accounts are intended for the payment of qualified higher-education expenses for the designated beneficiary. VEST has no state residency requirements and no age limits, although account owners and beneficiaries must be U. S. citizens or legal residents. For information about VEST and the Virginia College Savings Plan, go to www.Virginia529.com.

Since 1999, all Virginia Lottery profits have been designated solely to K-12 public school education in the Commonwealth. In that time, the Lottery has turned over nearly $3.9 billion for Virginia's public schools. The annual profits of approximately $450 million currently represent about 7 percent of annual state funding for public education in Virginia. In 20 years, the Lottery has awarded more than $1 billion in retailer commissions and more than $10.9 billion in prizes to players.

For more information, visit www.valottery.com. Please play responsibly.


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