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                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, January 11, 1992                   TAG: 9201130230
SECTION: EDITORIAL                    PAGE: A-11   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

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NO GAIN TO LOTTERY FROM JACKPOT INTEREST

VICTOR B. Marcussen's assumptions regarding the lotto jackpot annuities (letter, Dec. 3, "State is real winner in Lottery payout") are not correct.

When the Lottery advertises a $6.3 million jackpot, it does not have $6.3 million cash in hand. In fact, it has about half the amount. That $3.15 million invested over 20 years grows to $6.3 million. The state does not benefit from the interest on jackpot investments. All principal and interest go to the lottery prize winner. KENNETH W. THORSON Director, State Lottery Department RICHMOND

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