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6 million, or
23.9% in 2003, as a result of the better
absorption of fixed costs due to the higher sales volume and the
improved product mix at GPI-SAS.
Since that time, we have concentrated on the development of
increasingly sophisticated RFID casino chips and readers, which meet
all criteria required by casino managers and professional dealers., with offices in
Beaune, France; San Luis, Mexico; and Atlantic City, N. Factors that could
cause actual results to vary materially from these forward-looking
statements include: a competitor 's infringement upon the patent
underlying our exclusive license regarding RFID embedded gaming chips
or a successful challenge of such patent, a failure of the industry to
accept our RFID technology with respect to gaming chips and readers,
an adverse change in the gaming regulatory structure or reduction in
growth rate of new and existing casinos in Macao, timing and volume of
customer demand for our casino products, timing of new casino openings
and expansions, domestic or international terrorists incidents, and
unexpected taxes, charges, costs or difficulties in consolidating the
operations of the companies.

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"
The Gaming Partners' CEO also noted that the company holds
"several patents for the embedding of RFID in gaming chips, as well as
an exclusive license on patents, now owned by Shuffle Master, Inc.

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Net income for 2004 totaled $2.
Operating expenses--which include product development, marketing
and sales, depreciation and amortization, and general and
administrative costs--rose approximately $1.1 million in 2003., as they relate to this competitor.

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Revenues for the year increased to $44.
Gerard Charlier, president and chief executive officer, commented:
"We are very pleased by the company's improved operating results in
2004, reflecting the success of our focused efforts to build a larger,
stronger and more profitable company following our business
combination ."
The company's increase in 2004 revenues over 2003 principally
results from sales of GPI's European subsidiary, GPI-SAS, to new and
existing casinos in Macao in the second and fourth quarters of the
year.
Charlier emphasized: "The company's liquidity and financial
strength continue to show solid improvement. Working capital was approximately $12. We
have been informed that one of our competitors is currently marketing
a casino gaming chip product that claims to have an embedded microchip
and by doing so has allegedly challenged the validity of the patents
now owned by Shuffle Master, Inc . Additional information concerning factors
and risks that could affect these statements and GPIC 's financial
condition and results of operations are included in GPIC's Forms 10-Q
for the quarters ended March 31, 2004, June 30, 2004 and September 30,
2004; and GPIC's Form 10-K for the year ended December 31, 2003.

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For the three months ended December 31, 2004, revenues were $13.4 million
increase in revenues for the year, coupled with the decrease in costs
of revenues as a percent of sales. As a percentage of total revenues, operating
expenses decreased to 29. I yelled so loud my neighbors probably thought I
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2%, from $36.
Cost of revenues decreased modestly for the year as a percent of
revenues to 61.9%, up
from 3.
Today our company offers RFID casino chips under three brand names
adapted to different casino needs and practices. The Paulson brand
RFID casino chips are available in the U. for less than $2 each.

GAMING PARTNERS INTERNATIONAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED CONDENSED BALANCE SHEETS
December 31,
(dollars in thousands, except share amounts)


2004 2003
------- -------
ASSETS
------
Current Assets:
Cash and cash equivalents and marketable
securities $12,983 $6,766
Accounts receivables, less allowance for doubtful
accounts of $296 and $382, respectively 3 ,591 3,417
Inventories 7,358 5,382
Prepaid and other current assets 2,258 981
------- -------
Total current assets 26,190 16,546
Property and equipment, net 9,469 8,658
Goodwill, intangibles and other assets, net 3,566 3,392
------- -------
Total Assets $39,225 $28,596
======= =======

LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------
Accounts payable 4,263 2,135
Other current liabilities 9,697 7,084
Total current liabilities 13,960 9,219
Long-term debt, less current maturities and taxes 3,645 1,563
------- ------ -
Total liabilities 17,605 10,782
Commitments and Contingencies
------- -------
Total Stockholders ' Equity 21,620 17,814
------- -------
Total Liabilities and Stockholders' Equity $39,225 $28,596
======= =======

GAMING PARTNERS INTERNATIONAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
Years ended December 31,
(dollars in thousands, except per share amounts)


2004 2003
------- -------
Revenues $44,585 $36,171

Cost of revenues 27,249 22,387
------- -------

Gross profit 17,336 13,784

Operating expenses 13,260 12,042
------- -------

Operating income 4,076 1,742

Other income (expense), net (310) (408)
------- -------

Income before income taxes 3,766 1,334

Income tax expense 1,152 101
------- -------

Net income $2,614 $1,233
======= =======

Earnings per share:
Basic $0.34 $0. With their pay-out rates reviewed
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16 per basic and diluted
share in 2003.2
million, compared with $10.3 million for the
fourth quarter, which was approximately the same as one year ago."

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6 million, equal to $0.18 per basic and diluted share in the corresponding quarter of
2003.
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On a
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16 basic and diluted, compared to
$0 .3% in 2003.,
for the utilization of RFID casino chips and readers in the United
States, used for tracking and accounting for RFID casino chips. Although we do not control Shuffle Master, Inc.

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In 2004, the company recorded income tax expense of $1. Net after tax margin for 2004 was 5." At year-end , cash and
cash equivalents amounted to $8.16
======= =======
Diluted $0.

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The upgrade brought
the casino's offerings to more than 180 games, including world exclusive Fruit
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The company's revenue increases in the second, third and fourth
quarters of 2004, compared to 2003 , were partially offset by lower
first quarter revenues due to the variability of timing and demand
related to new casino openings and expansions.0 million, up from $4.
Commenting further on product development and the company's
technology and patent portfolio, Charlier said: "We first commenced
making simple RFID casino chips to be read one at a time in 1990."
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2 million in the previous fiscal year.1% from 61.4 million in
2004, more than double $3."

About the Company

Gaming Partners International Corporation manufactures and
supplies casino chips, table layouts, playing cards, dice, gaming
furniture , wheels, table accessories and other products that are used
with casino table games such as blackjack , poker, baccarat, craps and
roulette. GPIC is headquartered in Las Vegas, Nev.
For additional information about GPIC, visit our web site at
www.com

This press release may contain certain forward-looking statements
that are subject to risks and uncertainties.

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Gaming Partners International Corporation Posts Results for the Fourth Quarter and Year Ended December 31 2004

The company's results for 2004 are not necessarily
indicative of the results that may be expected in the future ., and
further, there can be no assurance that Shuffle Master, Inc. In particular, we look forward to bringing the
benefits of GPIC's RFID-based products and expertise to improve the
security and efficiency of our customers' table game operations.

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3 million one year earlier. All
brands of our RFID casino chips can be read fast enough for any
practical casino applications.
Shuffle Master , Inc. GPIC's expectations
regarding operating results and operating efficiencies, including the
growth of new product markets, may not be met. "This is the
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Business Editors /Gambling Writers

LAS VEGAS----Gaming Partners
International Corporation (Nasdaq:GPIC) today announced that net
income for the twelve months ended December 31, 2004 increased by more
than twofold from the prior year.34 per basic
and diluted share, up from $1., will be
successful in any effort, we believe that they will take all
reasonable actions necessary to preserve all rights and remedies with
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2 million or $0.7% in 2004 from 33.2 million,
compared to a tax expense of $101,000 in the prior year, primarily due
to taxes on foreign income.4% in 2003 .2 million at
December 31, 2004, compared with $7."
"We are enthusiastic about our company's prospects ," Charlier
concluded, "as we focus on our opportunities to serve the gaming
industry worldwide . GPIC
does not undertake to update any forward-looking statements. London, According to Alison H.
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9 million in the year-earlier quarter,
representing a 21.1 % increase for the fourth quarter of 2004 compared
to the same quarter in 2003.
"With respect to investments in the future, a key aspect of our
strategy is the continuing development of the company 's range of
RFID-related products in order to meet the multidimensional aspects of
various casino applications, including chip security and the enhanced
ability to manage table game operations as efficiently as slots.59 playing
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Net income was $1. While
RFID-embedded casino chips do not provide 100% security, since they
can, in theory, be duplicated, the protection of our chip tracking
systems brings the casino's chip management to an unprecedented
level.
Other income (expense) posted a $98,000 decrease in expense for
the year, primarily as a result of reduced foreign currency
translation losses, reflecting the euro's strength and the company's
sales activity in foreign currencies. GPIC sells
its casino products directly to licensed casinos throughout the world.

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"As an example of our very active ongoing development activities,
at the ICE gaming show held in London in early 2005, we introduced
vault cabinets that are able to read several thousand RFID chips in
standard trays.16
======= =======
Weighted-average shares outstanding
Basic 7,608 7,595
======= =======
Diluted 7 ,754 7,672
======= =======

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2 million for the year,
primarily due to higher product development, marketing and sales costs
including costs associated with the name change, new catalogs and
advertising , as well as the relocation of Kansas chip manufacturing
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close of 2003.com), "winning the jackpot was as easy as signing
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Gross profit registered a
year-over-year improvement of 26% as a result of the $8. Net
cash provided by operating activities approximated $8.S.

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