OK Lottery - Loan Approved

OKLAHOMA CITY (AP) - The Oklahoma Lottery Commission approves
JP Morgan Chase as the lender for a $10 million line of credit it needs to start the state's lottery.

It also approved a $12.8 million budget today for fiscal year 2006, which ends June 30th. The budget includes $5.6 million for personnel and $7.2 million for other costs.

The commission selected JP Morgan Chase as its financier out of
proposals from five institutions. It has yet to iron out the
details of a contract. The money is expected to be available by mid-August.


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