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<P align="right"><FONT size="2">As filed with the Securities and Exchange Commission on November&nbsp;27, 2002</FONT>

<div><FONT size="2">Registration No.&nbsp;333-____
</FONT></div>




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<P align="center"><FONT size="2">SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549
</FONT>




<P align="center"><FONT size="2"><B>FORM S-8</B><BR>
REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933
</FONT>




<P align="center"><FONT size="2"><B>WMS INDUSTRIES INC.</B><BR>
(Exact name of Registrant as specified in its charter)
</FONT>




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        <TD width="44%">&nbsp;</TD>
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        <TD align="center" valign="top"><FONT size="2"><B>Delaware</B><BR>
(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>36-2814522</B><BR>
(I.R.S. Employer Identification No.)</FONT></TD>
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<P align="center"><FONT size="2"><B>800 South Northpoint Boulevard, Waukegan, IL 60085</B><BR>
(Address, including zip code, of Registrant&#146;s principal executive offices)
</FONT>




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<P align="center"><FONT size="2"><B>2002 STOCK OPTION PLAN</B><BR>
(Full title of the Plan)
</FONT>




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<P align="center"><FONT size="2">Orrin J. Edidin, Esq.<BR>
Executive Vice President, General Counsel,<BR>
Chief Operating Officer and Secretary<BR>
WMS Industries Inc.<BR>
800 South Northpoint Boulevard<BR>
Waukegan, Illinois 60085<BR>
(847)&nbsp;785-3000<BR>
(Name and address, including zip code, and<BR>
telephone number, including area code, of agent for service)
</FONT>




<P align="center"><FONT size="2">Copy to:
</FONT>




<P align="center"><FONT size="2">Jeffrey N. Siegel, Esq.<BR>
Shack Siegel Katz Flaherty &#038; Goodman P.C.<BR>
530 Fifth Avenue<BR>
New York, New York 10036<BR>
(212)&nbsp;782-0700
</FONT>




<P align="center"><FONT size="2">&nbsp;</FONT>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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</TR>
<TR><TD colspan="9"><A HREF="#000">CALCULATION OF REGISTRATION FEE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">EXPLANATORY NOTE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">PART II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">ABOUT THIS PROSPECTUS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">RISK FACTORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">USE OF PROCEEDS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">SELLING STOCKHOLDERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">PLAN OF DISTRIBUTION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">LEGAL MATTERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">EXPERTS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#013">DOCUMENTS INCORPORATED BY REFERENCE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#014">WHERE YOU CAN FIND MORE INFORMATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#015">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#016">Power of Attorney</A></TD></TR>
<TR><TD colspan="9"><A HREF="#017">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="c73336exv5.htm">Opinion of Shack Siegel Katz Flaherty & Goodman</A></TD></TR>
<TR><TD colspan="9"><A HREF="c73336exv23w2.htm">Consent of Ernst & Young LLP</A></TD></TR>
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<!-- link1 "CALCULATION OF REGISTRATION FEE" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B>
</FONT>

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        <TD width="15%">&nbsp;</TD>
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        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="4"><FONT size="1"><B>Proposed maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Proposed maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Amount of</B></FONT></TD>

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<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Title of securities</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Amount to be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="4"><FONT size="1"><B>offering price</B></FONT></TD>

        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>aggregate</B></FONT></TD>

        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Registration</B></FONT></TD>

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        <TD nowrap align="center"><FONT size="1"><B>to be registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>registered (1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>

        <TD nowrap align="center" colspan="4"><FONT size="1"><B>per share</B></FONT></TD>

        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>offering price</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Fee</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD colspan="2"><HR size="1" noshade></TD>

        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="2"><HR size="1" noshade></TD>

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        <TD valign="top"><FONT size="2">Common Stock, par
value $.50(2)(3)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
1,500,000 shares
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="center" valign="top"><FONT size="2">$</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>

<TD align="center" valign="top" colspan="2"><FONT size="2">16.17</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left" valign="top"><FONT size="2">$</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">24,255,000
</FONT></TD>

        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2"></FONT></TD>
        <TD nowrap align="left" valign="top"><FONT size="2">$</FONT></TD>

        <TD nowrap valign="top"><FONT size="2">2,231.46(4)(5)</FONT></TD>
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<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Pursuant to Rule&nbsp;416 under the Securities Act of 1933, this registration
statement also covers an indeterminable number of shares of common stock
which may become issuable pursuant to the anti-dilution provisions of the
2002 Stock Option Plan (the &#147;2002 Plan&#148;).</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">In accordance with a Rights Agreement entered into between the registrant
and The Bank of New York, dated as of March&nbsp;5, 1998, each share of common
stock is accompanied by certain stock purchase rights.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The fee with respect to shares granted under the Plan is computed, in
accordance Rule&nbsp;457(h)(1) under the Securities Act, based on the average
of the high and low prices of the registrant&#146;s common stock reported on
the New York Stock Exchange on November&nbsp;21, 2002.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(4)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The registration fee has been
reduced by $2,231.46, which is being
offset, under Rule&nbsp;457(p), against fees previously paid with the
Registrant&#146;s registration statement on Form&nbsp;S-3, File No.&nbsp;333-83021,
initially filed on July&nbsp;16, 1999. A total fee of $17,724.17 was paid with
that offering to register 4,025,000 shares, which were never sold or
issued in that offering. That registration statement was withdrawn
pursuant to Rule&nbsp;477 on September&nbsp;30, 1999.</FONT></TD>
</TR>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(5)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">$8,995.07 was paid with registration statement no. 33-48363, relating to
1,701,845 shares of common stock; $16,325.33 was paid with registration
statement no. 33-79146, relating to 2,198,902 shares of common stock;
$12,584.47 was paid with registration statement no. 333-06021, relating to
1,644,455 shares of common stock; $4,608.45 was paid with registration
statement no. 333-48697, relating to 515,360 shares of common stock;
$905.65 was paid with registration statement no. 333-57585, relating to
1,000,000 shares of common stock; $7,543.00 was paid with registration
statement no. 333-46726, relating to 1,750,000 shares of common stock;
$4,930.00 was paid with registration statement no. 333-55574, relating to
1,000,000 shares of common stock; and no fee was paid with registration
statement no. 333-87676, relating to a restricted grant of 250,000 shares
of common stock (the fee was reduced by $331.20, pursuant to Rule&nbsp;457(p)).
These shares are being carried forward in the combined reoffer prospectus
being filed herewith (to the extent that they are or may be control or
restricted securities). See the Rule&nbsp;429 note immediately below.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by Rule&nbsp;429 under the Securities Act of 1933, the prospectus
filed together with this registration statement is a combined resale prospectus
which shall be deemed a post-effective amendment to the registrant&#146;s
registration statements numbered 33-48363, 33-79146, 333-06021, 333-48697,
333-57585, 333-46726, 333-55574, and 333-87676, each on Form&nbsp;S-8.

</FONT>


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<P align="center"><FONT size="2"><B>EXPLANATORY NOTE</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registration statements numbered 33-48363, 33-79146, 333-06021, 333-48697,
333-57585, 333-46726, 333-55574, and 333-87676 were filed previously with the
SEC by the registrant to register shares of its common stock, par value $.50
per share: (a)&nbsp;issued or issuable under its 1991 Stock Option Plan, as amended,
its 1993 Stock Option Plan, as amended, its 1994 Stock Option Plan, as amended,
its 1998 Non-Qualified Stock Option Plan, its 2000 Non-Qualified Stock Option
Plan and its 2000 Stock Option Plan (collectively, the &#147;WMS Plans&#148;), (b)&nbsp;issued
to Louis J. Nicastro, under a restricted stock agreement, dated March&nbsp;1, 2002,
between Mr.&nbsp;Nicastro and the registrant and (c)&nbsp;issued to optionholders in
connection with the 1998 spinoff of registrant&#146;s interest in Midway Games Inc.
in accordance with the antidilution provisions of the WMS Plans. This
registration statement is being filed to: (1)&nbsp;register the shares of common
stock issuable under the Registrant&#146;s 2002 Stock Option Plan (the &#147;2002 Plan&#148;)
and (2)

</FONT>


<P align="center"><FONT size="2">2</FONT>

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<P><FONT size="2">file a prospectus as permitted by Form&nbsp;S-8 General Instruction C and Rule
429 under the Securities Act to be used for reoffers and resales by directors
and executive officers of WMS under any of the WMS Plans or the 2002 Plan.

</FONT>


<!-- link1 "PART I" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>PART I</B>
</FONT>

<!-- link1 "INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified by Part I will be sent
or given to eligible participants as specified by Rule&nbsp;428(b)(1) under the
Securities Act.

</FONT>


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<DIV align="left"><A NAME="004"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B>
</FONT>

<!-- link1 "INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->
<DIV align="left"><A NAME="005"></A></DIV>
<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</FONT>

<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended June
30, 2002, the registrant&#146;s Quarterly Report on Form&nbsp;10-Q for the quarter ended
September&nbsp;30, 2002, the registrant&#146;s Current Report on Form&nbsp;8-K filed on
November&nbsp;12, 2002 and the description of the registrant&#146;s common stock
contained in the registrant&#146;s registration statement on Form&nbsp;8-A (File No.
1-8300) filed on January&nbsp;21, 1982 pursuant to Section&nbsp;12(b) of the Securities
Exchange Act of 1934 (the &#147;Exchange Act&#148;), including all exhibits thereto, are
incorporated herein by reference and made a part of this registration statement
as of the date hereof.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the registrant under Sections&nbsp;13(a),
13(c), 14 or 15(d) of the Exchange Act after the effective date of this
registration statement and prior to the termination of the offering of the
common stock offered hereby shall be deemed to be incorporated by reference
into this registration statement and to be a part hereof from the date of
filing of those documents. Any statement contained herein or in a document
incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this registration statement to the
extent that a statement contained herein or in any document which is or is
deemed to be incorporated by reference herein modifies or supersedes such
statement. Any statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this registration
statement.

</FONT>


<P align="left"><FONT size="2"><B>Item&nbsp;4. Description of Securities.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

</FONT>


<P align="left"><FONT size="2"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The legality of the issuance of the shares of common stock offered hereby
will be passed upon for the registrant by Shack Siegel Katz Flaherty &#038; Goodman
P.C., 530 Fifth Avenue, New York, New York 10036. As of
November&nbsp;27, 2002
shareholders of Shack Siegel Katz Flaherty &#038; Goodman P.C. held options to
purchase 30,000 shares of common stock.

</FONT>


<P align="left"><FONT size="2"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s authority to indemnify its officers and directors is
governed by the provisions of Section&nbsp;145 of the General Corporation Law of the
State of Delaware (the &#147;DGCL&#148;), by the Amended

</FONT>


<P align="center"><FONT size="2">3</FONT>

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<P><FONT size="2">and Restated Bylaws of the registrant, as amended (the &#147;Bylaws&#148;), by the
Restated Certificate of Incorporation, as amended, of the registrant (the
&#147;Certificate of Incorporation&#148;) and by certain indemnification agreements
entered into with officers and directors (the &#147;Indemnity Agreements&#148;).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section&nbsp;145 of the DGCL, directors and officers as well as other
employees and individuals may be indemnified against expenses (including
attorneys&#146; fees), judgments, fines and amounts paid in settlement in connection
with specified actions, suits or proceedings, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the
corporation (a &#147;derivative action&#148;)) if they acted in good faith and in a
manner they reasonably believed to be in or not opposed to the best interests
of the registrant, and with respect to any criminal action or proceeding, had
no reasonable cause to believe their conduct was unlawful. A similar standard
of care is applicable in the case of derivative actions, except that
indemnification only extends to expenses (including attorneys&#146; fees) incurred
in connection with defense or settlement of such an action and the DGCL
requires court approval before there can be any indemnification where the
person seeking indemnification has been found liable to the registrant.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Certificate of Incorporation and Bylaws of the registrant provide that
the registrant shall, to the fullest extent permitted by Section&nbsp;145 of the
DGCL, (i)&nbsp;indemnify any and all persons whom it shall have power to indemnify
under said section from and against any and all of the expenses, liabilities or
other matters referred to in or covered by said section, and (ii)&nbsp;advance
expenses related thereto to any and all said persons. The indemnification and
advancement of expenses provided for therein shall not be deemed to be
exclusive of any other rights to which those indemnified may be entitled under
any bylaw, agreement, vote of stockholders or disinterested directors or
otherwise, both as to action in their official capacities and as to action in
another capacity while holding such offices, and shall continue as to persons
who have ceased to be directors, officers, employees or agents and shall inure
to the benefit of the heirs, executors and administrators of such person. In
addition, the Certificate of Incorporation of the registrant provides for the
elimination of personal liability of directors of the registrant to the
registrant or its stockholders for monetary damages for breach of fiduciary
duty as a director, to the fullest extent permitted by the DGCL, as amended and
supplemented.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Indemnity Agreement provides for the indemnification of the officer
or director, to the fullest extent permitted by the laws of the State of
Delaware, and obligates the registrant to provide the maximum protection
allowed under Delaware law. In addition, each Indemnity Agreement supplements
and increases such protection in certain respects.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant has purchased Directors, Officers and Corporate liability
insurance policies. The policies cover up to an aggregate amount of $20
million for losses of directors and officers of the registrant arising from
claims made against the directors or officers for any actual or alleged
wrongful act in their capacities as directors or officers of the registrant.
The policies also cover losses of the registrant for securities claims made
against the registrant and for the amount of any indemnification paid to
directors and officers, in each case up to the aggregate limit of $20&nbsp;million.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers or persons controlling the
registrant pursuant to the foregoing provisions, the registrant has been
informed that, in the opinion of the Commission, such indemnification is
against public policy as expressed in the Securities Act and is therefore
unenforceable.

</FONT>


<P align="left"><FONT size="2"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

</FONT>


<P align="center"><FONT size="2">4</FONT>

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<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits.</B>
</FONT>

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<TR valign="bottom">
        <TD valign="top" align="center">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="90%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="1"><B>Exhibit No.</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top" align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><HR size="1" noshade width="18%"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Restated Certificate of Incorporation of the Registrant dated February&nbsp;17, 1987; Certificate of
Amendment dated January&nbsp;28, 1993; and Certificate of Correction dated May&nbsp;4, 1994, all
incorporated by reference to Exhibit&nbsp;3(a) to the Registrant&#146;s Annual Report on Form&nbsp;10-K for
the year ended June&nbsp;30, 1994.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the
Registrant, as filed with the Secretary of State of the State of Delaware on February&nbsp;25, 1998,
incorporated by reference to Exhibit&nbsp;3.1 to the Registrant&#146;s Quarterly Report on Form&nbsp;10-Q for
the fiscal quarter ended March&nbsp;31, 1998.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">4.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Rights Agreement, dated March&nbsp;5, 1998 between the Registrant and The Bank of New York, as
Rights Agent, incorporated by reference to the Registrant&#146;s Registration Statement on Form&nbsp;8-A,
filed with the Commission on March&nbsp;25, 1998.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">4.4</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By-Laws of the Registrant, as amended and restated through June&nbsp;26, 1996, incorporated by
reference to Exhibit&nbsp;3(b) to the Registrant&#146;s Annual Report on Form&nbsp;10-K for the year ended
June&nbsp;30, 1996.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Shack Siegel Katz Flaherty &#038; Goodman P.C., counsel for the Registrant.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Shack Siegel Katz Flaherty &#038; Goodman P.C. (contained in the Opinion filed as Exhibit
5 hereto).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Ernst &#038; Young LLP.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">24</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (contained on the signature page hereof).</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="left"><FONT size="2"><B>Item&nbsp;9. Undertakings.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;The undersigned registrant hereby undertakes:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement to include any material
information with respect to the plan of distribution not previously disclosed
in the registration statement or any material change to such information in the
registration statement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining liability under the Securities
Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial <I>bona
fide </I>offering thereof.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to Section&nbsp;15(d) of the Securities Exchange Act
of 1934) that is incorporated by reference in the registration statement shall
be deemed to be a new registration statement

</FONT>


<P align="center"><FONT size="2">5</FONT>

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<P><FONT size="2">relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial <I>bona fide </I>offering
thereof.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the
Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.

</FONT>


<P align="center"><FONT size="2">6</FONT>

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<P><FONT size="2">RESALE PROSPECTUS
</FONT>




<P align="center"><FONT size="2"><B>WMS INDUSTRIES INC.</B>
</FONT>




<P align="center"><FONT size="2"><B>2,024,447 Shares</B>
</FONT>




<P align="center"><FONT size="2"><B>Common Stock, Par Value $.50</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We design, manufacture, market, lease and sell gaming equipment. Our
principal executive office is located at 800 South Northpoint Boulevard,
Waukegan, Illinois 60085, telephone no. (847)&nbsp;785-3000.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our common stock is listed on the New York Stock Exchange under the symbol
&#147;WMS&#148;.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our officers and directors who are listed beginning on page 3 below as
&#147;selling stockholders&#148; may sell up to the number of shares of our common stock
listed in the &#147;Shares to be Sold&#148; column opposite their names. Selling
stockholders may sell any of these shares at any time, but they are not
required to sell any shares. The selling stockholders acquired or may acquire
the shares to be offered by them under our employee benefit plans. <B>None of the
selling stockholders has notified us of an intention to offer any shares for
sale at this time.</B>

</FONT>


<P align="center"><HR align="center" size="1" width="18%" noshade>




<P align="center"><FONT size="2"><B>Please see &#147;Risk Factors&#148; on page 2 below.</B>
</FONT>




<P align="center"><HR align="center" size="1" width="18%" noshade>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or passed upon the
accuracy or adequacy of this prospectus. Any representation to the contrary is
a criminal offense.

</FONT>


<P align="center"><HR align="center" size="1" width="18%" noshade>




<P align="center"><FONT size="2">The date of this prospectus is November&nbsp;27, 2002
</FONT>




<P align="center"><FONT size="2">1</FONT>

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<!-- link1 "ABOUT THIS PROSPECTUS" -->
<DIV align="left"><A NAME="006"></A></DIV>
<P align="center"><FONT size="2"><B>ABOUT THIS PROSPECTUS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus relates to 2,024,447 shares (the &#147;Shares&#148;) of our common
stock. The selling stockholders described in this prospectus may sell the
Shares at any time until we terminate this offering. As used in this
prospectus, the terms &#147;we,&#148; &#147;us,&#148; &#147;our&#148; and &#147;WMS&#148; mean WMS Industries Inc., a
Delaware corporation, and its subsidiaries, unless the context indicates a
different meaning.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have agreed to pay the expenses incurred in registering the Shares,
including legal and accounting fees.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Most of the information about us that you need to know before you invest
in the Shares is not included in this prospectus. You should obtain and read
the information described below under the headings &#147;Documents Incorporated by
Reference&#148; and &#147;Where You Can Find More Information&#148; in order to get all the
important information about WMS.

</FONT>


<!-- link1 "RISK FACTORS" -->
<DIV align="left"><A NAME="007"></A></DIV>
<P align="center"><FONT size="2"><B>RISK FACTORS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Some of the information incorporated by reference or contained in this
prospectus contains &#147;forward-looking statements,&#148; within the meaning of the
federal securities laws. These statements describe our plans and beliefs
concerning future business conditions and the outlook for WMS based on
currently available information. Our actual results could differ materially
from those described in the forward-looking statements due to a number of risks
and uncertainties. These risk factors include the following:

</FONT>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">software anomalies and manipulation of our machines and
software may cost us money, burden our engineering and marketing
resources, involve us in litigation and adversely affect our gaming
licenses;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">customers and regulators may not accept the upgraded and new
operating systems we expect to introduce in the future;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">our gaming machine business is heavily regulated, and we must
obtain and maintain our gaming licenses and regulatory approvals for
our games to operate our business;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">our profitability depends heavily on recurring revenue
participation games that may become restricted or prohibited by law
in some jurisdictions or face increased resistance by operators;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">patent infringement claims could limit or affect our ability
to market some of our current or new gaming machines;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">our revenues depend in part upon our ability to obtain and
retain licenses to use intellectual properties and licensors&#146;
approvals of new products on a timely basis;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">we rely on our intellectual property and proprietary rights;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">we depend on introducing new games and gaming machines that
achieve and maintain market acceptance;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">the gaming industry is sensitive to declines in the public
acceptance of gaming;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">the gaming machine market is intensely competitive, and some
of our competitors have advantages over us;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">we face risks associated with doing business in international markets;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">we may have conflicts of interest with Midway Games Inc.;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Sumner M. Redstone owns or controls over 24% of our common
stock and, as a result of a settlement of divorce, Phyllis G.
Redstone owns or controls 10% of our common stock, and either or
both of them may dispose of all or a portion of their stock at any
time;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">the use of our rights plan or blank check preferred stock
would inhibit the acquisition of WMS or have a dilutive effect on
our stock; and</FONT></TD>
</TR>
</TABLE>


<P align="center"><FONT size="2">2</FONT>

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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">the substantial number of shares available for sale in the
future could have an adverse effect on the market price of our
common stock;</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">as well as the more detailed descriptions and other items set forth under &#147;Item
1. Business &#151; Risk Factors&#148; in our annual report on Form&nbsp;10-K and in any more
recent documents incorporated in this prospectus by reference.

</FONT>


<!-- link1 "USE OF PROCEEDS" -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="center"><FONT size="2"><B>USE OF PROCEEDS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will not receive any of the proceeds from the sale of the common stock
offered by this prospectus, but we will receive the exercise price upon the
exercise of any options by the selling stockholders. We plan to use any such
proceeds for working capital purposes.

</FONT>


<!-- link1 "SELLING STOCKHOLDERS" -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="center"><FONT size="2"><B>SELLING STOCKHOLDERS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus relates to Shares that are being registered for reoffers
and resales by selling stockholders who have acquired or may acquire Shares
under our stock option plans, as an adjustment to their options under our plans
or as a restricted stock grant. The selling stockholders may resell any or all
of the Shares at any time they choose while this prospectus is effective. <B>None
of the selling stockholders has notified us of an intention to offer any shares
for sale at this time.</B>

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive officers and directors, their family members, trusts for their
benefit, or entities that they own, that acquire common stock under our plans
may be added to the selling stockholder list below by a prospectus supplement
filed with the SEC. The number of Shares to be sold by any selling stockholder
under this prospectus also may be increased or decreased by a prospectus
supplement. Non-affiliates who purchased restricted securities, as these terms
are defined in Rule&nbsp;144(a) under the Securities Act, under any of our employee
benefit plans and who are not named below may use this prospectus for the offer
or sale of their common stock if they hold 1,000 shares or less. Although a
person&#146;s name is included in the table below, neither that person nor we are
making an admission that the named person is our &#147;affiliate.&#148;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information in the table below sets forth, for each selling
stockholder, based upon information available to us as of November&nbsp;27, 2002,
the number of shares of our common stock beneficially owned before and after a
hypothetical sale of the Shares, the maximum number of Shares that may be sold
and the percentage of the outstanding shares of our common stock owned before
and after the hypothetical sale of the Shares.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the table below, &#147;Shares to be Sold&#148; represents the maximum number of
Shares that could be sold under this prospectus if the holder sold all of his
or her Shares, exercised all of his or her options when vested and sold the
underlying Shares. <B>The amounts listed under &#147;Shares to be Sold&#148; do not
constitute commitments to sell any or all of the stated number of Shares. </B>The
actual number of Shares to be sold, if any, shall be determined from time to
time by each Selling Stockholder in his or her discretion. <B>We have not been
informed whether any selling stockholders intend to sell any Shares at this
time.</B>

</FONT>


<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="3%">&nbsp;</TD>
        <TD width="43%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="7"><FONT size="1"><B>Percent of Class (1)</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount and Nature</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Shares that</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Shares Beneficially</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="7"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>of Beneficial</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>may be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Owned After</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Before</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>After</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Name and Position</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Ownership (1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Sold</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="2"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="2"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Louis J. Nicastro</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">10,823,832</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">250,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">10,573,832</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">35.0</FONT></TD>
        <TD nowrap><FONT size="2">%</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">34.2</FONT></TD>
        <TD nowrap><FONT size="2">%</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Chairman of the Board of Directors</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Brian R. Gamache</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">318,331</FONT></TD>
        <TD nowrap><FONT size="2">(3)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">550,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">5,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">President and Chief Executive Officer</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom" bgcolor="#eeeeee">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Scott D. Schweinfurth</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">101,000</FONT></TD>
        <TD nowrap><FONT size="2">(4)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">200,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">1,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom" bgcolor="#eeeeee">
        <TD><FONT size="2">&nbsp;</FONT></TD>

<TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Executive Vice President, Chief Financial Officer and Treasurer</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>



<P align="center"><FONT size="2">3</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="95%">
<TR valign="bottom">
        <TD width="3%">&nbsp;</TD>
        <TD width="38%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="7"><FONT size="1"><B>Percent of Class (1)</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Amount and Nature</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Shares that</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Shares Beneficially</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="7"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>of Beneficial</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>may be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Owned After</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Before</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>After</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Name and Position</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Ownership (1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Sold</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="2"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="2"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="2"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Orrin J. Edidin</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">110,000</FONT></TD>
        <TD nowrap><FONT size="2">(5)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">210,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Executive Vice President, General
Counsel, Chief Operating Officer and
Secretary</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Robert R. Rogowski</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">16,400</FONT></TD>
        <TD nowrap><FONT size="2">(6)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">48,400</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Vice President of Finance
and Controller</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom" bgcolor="#eeeeee">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Seamus McGill</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">87,750</FONT></TD>
        <TD nowrap><FONT size="2">(7)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">179,250</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Executive Vice President of Sales and
Marketing for WMS Gaming Inc.</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Norman J. Menell</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">57,947</FONT></TD>
        <TD nowrap><FONT size="2">(8)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">55,731</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">2,216</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Vice Chairman of the Board of
Directors</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom" bgcolor="#eeeeee">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">William C. Bartholomay</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">79,531</FONT></TD>
        <TD nowrap><FONT size="2">(9)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">60,731</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">18,800</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Director</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">William E. McKenna</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">126,280</FONT></TD>
        <TD nowrap><FONT size="2">(10)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">123,686</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">2,594</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Director</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom" bgcolor="#eeeeee">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Donna B. More</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">75,000</FONT></TD>
        <TD nowrap><FONT size="2">(11)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">75,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Director</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Neil D. Nicastro</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">10,599,214</FONT></TD>
        <TD nowrap><FONT size="2">(12)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">30,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">10,569,214</FONT></TD>
        <TD><FONT size="2">(12)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">34.3</FONT></TD>
        <TD nowrap><FONT size="2">%</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">34.2</FONT></TD>
        <TD nowrap><FONT size="2">%</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Director</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom" bgcolor="#eeeeee">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Harvey Reich</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">28,421</FONT></TD>
        <TD nowrap><FONT size="2">(13)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">28,421</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">0</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Director</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">David M. Satz, Jr.</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">63,500</FONT></TD>
        <TD nowrap><FONT size="2">(14)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">62,500</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">1,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Director</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom" bgcolor="#eeeeee">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Ira S. Sheinfeld</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="right"><FONT size="2">168,903</FONT></TD>
        <TD nowrap><FONT size="2">(15)</FONT></TD>
        <TD nowrap align="left"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">150,728</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">18,202</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Director</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">*</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Less than 1%</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Based on 30,820,753 shares outstanding as of November&nbsp;27, 2002. Shares
issuable upon the exercise of options exercisable by a person within 60
days are deemed to be outstanding with respect to the calculation of that
person&#146;s percent of class.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 7,483,500 shares owned by Sumner M. Redstone and National
Amusements, Inc. for which the reporting person has shared voting power
but no dispositive power. Also includes 3,085,700 shares owned by Phyllis
G. Redstone for which the reporting person has shared voting power but no
dispositive power. Also includes 250,000 shares of restricted stock over
which Mr.&nbsp;Nicastro has voting power. Louis J. Nicastro is the father of
Neil D. Nicastro.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 313,331 shares underlying stock options.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(4)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 100,000 shares underlying stock options.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(5)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Represents 110,000 shares underlying stock options.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(6)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Represents 16,400 shares underlying stock options.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(7)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Represents 87,750 shares underlying stock options.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(8)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 50,000 shares underlying stock options and 5,731 shares acquired
pursuant to the anti-dilution provisions of our stock option plans.</FONT></TD>
</TR>
</TABLE>


<P align="center"><FONT size="2">4</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(9)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 50,000 shares underlying stock options and 10,731 shares
acquired pursuant to the anti-dilution provisions of our stock option
plans.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(10)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 112,955 shares underlying stock options and 10,731 shares
acquired pursuant to the anti-dilution provisions of our stock option
plans.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(11)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Represents 75,000 shares underlying stock options.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(12)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 7,483,500 shares owned by Sumner M. Redstone and National
Amusements, Inc. for which the reporting person has shared voting power
but no dispositive power. Also includes 3,085,700 shares owned by Phyllis
G. Redstone for which the reporting person has shared voting power but no
dispositive power. Also includes 30,000 shares underlying stock options.
Neil D. Nicastro, the son of Louis J. Nicastro, was our President, Chief
Executive Officer and Chief Operating Officer prior to April&nbsp;6, 1998.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(13)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 25,000 shares underlying stock options and 3,421 shares acquired
pursuant to the anti-dilution provisions of our stock option plans.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(14)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 62,500 shares underlying stock options.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(15)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes 150,728 shares underlying stock options and 18,202 shares
acquired pursuant to the anti-dilution provisions of our stock option
plans.</FONT></TD>
</TR>
</TABLE>
<!-- link1 "PLAN OF DISTRIBUTION" -->
<DIV align="left"><A NAME="010"></A></DIV>
<P align="center"><FONT size="2"><B>PLAN OF DISTRIBUTION</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholders may sell the common stock only for their own
accounts. The Shares will be listed on the New York Stock Exchange, subject to
official notice of issuance. The selling stockholders, their donees or other
transferees and successors in interest permitted to use Form&nbsp;S-8, under General
Instruction A of Form&nbsp;S-8, may sell or transfer common stock for value in one
or more transactions on the New York Stock Exchange (or any successor stock
exchange), in negotiated transactions or in a combination of these methods of
sale, at market prices prevailing at the time of sale, at prices related to
those market prices or at prices otherwise negotiated.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholders may effect transactions by selling Shares to or
through broker-dealers. Those broker-dealers may receive compensation in the
form of underwriting discounts, concessions or commissions from the selling
stockholders and/or the purchasers of the Shares for whom the broker-dealers
may act as agents, which compensation may be more or less than customary
commissions. None of the selling stockholders, at the date of this prospectus,
has any agreement, arrangement or understanding with any broker or dealer to
sell any of the Shares. All selling and other expenses incurred by individual
selling stockholders will be borne by those selling stockholders.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Share is sold together with stock purchase rights. These rights are
described in a registration statement on Form&nbsp;8-A (File No.&nbsp;1-8300) which we
filed with the SEC on March&nbsp;25, 1998. See &#147;Documents Incorporated by
Reference.&#148;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We do not know whether or not any of the selling stockholders will sell
any or all of their Shares under this prospectus. We may terminate this
offering without notice at any time.

</FONT>


<!-- link1 "LEGAL MATTERS" -->
<DIV align="left"><A NAME="011"></A></DIV>
<P align="center"><FONT size="2"><B>LEGAL MATTERS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the Shares has been passed upon by our counsel, Shack
Siegel Katz Flaherty &#038; Goodman P.C., New York, New York. As of November&nbsp;27,
2002, shareholders of Shack Siegel Katz Flaherty &#038; Goodman P.C. hold options to
purchase 30,000 shares of our common stock.

</FONT>


<P align="center"><FONT size="2">5</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "EXPERTS" -->
<DIV align="left"><A NAME="012"></A></DIV>
<P align="center"><FONT size="2"><B>EXPERTS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ernst &#038; Young LLP, independent auditors, have audited our consolidated
financial statements and schedule included in our annual report on Form&nbsp;10-K
for the year ended June&nbsp;30, 2002, as set forth in their report, which is
incorporated in this prospectus by reference. Our consolidated financial
statements and schedule are incorporated by reference in reliance on their
report, given on their authority as experts in accounting and auditing.

</FONT>


<!-- link1 "DOCUMENTS INCORPORATED BY REFERENCE" -->
<DIV align="left"><A NAME="013"></A></DIV>
<P align="center"><FONT size="2"><B>DOCUMENTS INCORPORATED BY REFERENCE</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The SEC allows us to &#147;incorporate by reference&#148; into this prospectus the
information that we file with the SEC. This means that we can disclose
important information to you by referring you to those documents. Information
incorporated by reference is part of this prospectus. Information that we file
at a future date with the SEC will update and supersede this information. For
further information about WMS Industries Inc. and our common stock, please read
the documents incorporated by reference below.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We incorporate by reference the documents listed below and all documents
that we file in the future with the SEC under Sections&nbsp;13(a), 13(c), 14 or
15(d) of the Securities Exchange Act of 1934 until the termination of this
offering:

</FONT>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">our annual report on Form&nbsp;10-K for the fiscal year ended June&nbsp;30, 2002;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">our quarterly report on Form&nbsp;10-Q for the fiscal quarter ended September&nbsp;30, 2002;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">our current report on Form&nbsp;8-K, filed on November&nbsp;12, 2002; and</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">the description of our common stock contained in our
registration statement on Form&nbsp;8-A (File No.&nbsp;1-8300) filed on
January&nbsp;21, 1982.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will provide to each person, including any beneficial owner, to whom
this prospectus is delivered, a copy of any or all of the information that we
have incorporated by reference in this prospectus. You may request copies of
this information in writing or orally, and we will provide it at no cost. You
may contact us at our principal executive office: 800 South Northpoint
Boulevard, Waukegan, Illinois 60085 (847)&nbsp;785-3000, Attention: General Counsel.

</FONT>


<!-- link1 "WHERE YOU CAN FIND MORE INFORMATION" -->
<DIV align="left"><A NAME="014"></A></DIV>
<P align="center"><FONT size="2"><B>WHERE YOU CAN FIND MORE INFORMATION</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus constitutes a part of each of nine registration
statements, and amendments to them, that we have filed on Form&nbsp;S-8 with the SEC
concerning the Shares: File Nos. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(filed on November&nbsp;27, 2002),
333-87676, 333-55574, 333-46726, 333-57585, 333-48697, 333-06021, 33-79146 and
33-48363. We also file annual, quarterly and current reports, proxy statements
and other information with the SEC. You may read and copy the registration
statements and any materials that we file at the SEC&#146;s Public Reference Room at
450 Fifth Street, N.W., Washington, D.C. 20549. You may obtain information on
the operation of the Public Reference Room by calling the SEC at
1-800-SEC-0330. Our documents may also be inspected at the offices of the
NYSE, 20 Broad Street, New York, New York 10005. The SEC maintains an Internet
site that contains reports, proxy and information statements and other
information about issuers, including us, that file electronically with the SEC.
The SEC&#146;s web site is located at: www.sec.gov.

</FONT>


<P align="center"><FONT size="2">6</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="015"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Waukegan, State of Illinois on this 27th day of
November, 2002.

</FONT>


<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="53%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="42%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan="1" valign="top" align="left"><FONT size="2"></FONT></TD>
        <TD align="left" colspan="2" nowrap valign="top"><FONT size="2">
WMS INDUSTRIES INC.</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD valign="top"><FONT size="2">By:</FONT></TD>

        <TD align="left" valign="top"><FONT size="2">
/s/  Brian R. Gamache<BR>
</FONT><HR size="1" noshade><FONT size="2">
Brian R. Gamache, President and<BR>
Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
</CENTER>
<!-- link1 "Power of Attorney" -->
<DIV align="left"><A NAME="016"></A></DIV>
<P align="center"><FONT size="2"><B>Power of Attorney</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature to this Registration Statement appears below
hereby appoints Brian R. Gamache and Orrin J. Edidin, and each of them acting
singly, as his or her attorney-in-fact, to sign on his or her behalf
individually and in the capacity stated below and to file all amendments and
post-effective amendments to this Registration Statement, which amendment or
amendments may make such changes and additions to this Registration Statement
as such attorney-in-fact may deem necessary or appropriate.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

</FONT>


<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="28%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="25%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="41%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="left"><FONT size="1"><B>Signature</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="1"><B>Date</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="1"><B>Title</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="left"><HR size="1" noshade width="20%"></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><HR size="1" noshade width="20%"></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><HR size="1" noshade width="20%"></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Louis J. Nicastro<BR>
</FONT><HR size="1" noshade><FONT size="2">
Louis J. Nicastro</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Chairman of the Board of Directors</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Brian R. Gamache<BR>
</FONT><HR size="1" noshade><FONT size="2">
Brian R. Gamache</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">President and Chief Executive Officer (Principal<BR>
Executive Officer)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Scott D. Schweinfurth<BR>
</FONT><HR size="1" noshade><FONT size="2">
Scott D. Schweinfurth</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Executive Vice President, Chief Financial Officer<BR>
and Treasurer (Principal Financial and Accounting Officer)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Norman J. Menell<BR>
</FONT><HR size="1" noshade><FONT size="2">
Norman J. Menell</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Vice Chairman of the Board of Directors</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ William C. Bartholomay<BR>
</FONT><HR size="1" noshade><FONT size="2">
William C. Bartholomay</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Director</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ William E. McKenna<BR>
</FONT><HR size="1" noshade><FONT size="2">
William E. McKenna</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Director</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Donna B. More<BR>
</FONT><HR size="1" noshade><FONT size="2">
Donna B. More</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Director</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Neil D. Nicastro<BR>
</FONT><HR size="1" noshade><FONT size="2">
Neil D. Nicastro</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Director</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Harvey Reich<BR>
</FONT><HR size="1" noshade><FONT size="2">
Harvey Reich</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Director</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ David M. Satz, Jr.<BR>
</FONT><HR size="1" noshade><FONT size="2">
David M. Satz, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Director</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Ira Sheinfeld<BR>
</FONT><HR size="1" noshade><FONT size="2">
Ira Sheinfeld</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
November 27, 2002
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Director</FONT></TD>
</TR>
</TABLE>
</CENTER>


<P align="center"><FONT size="2">&nbsp;</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="017"></A></DIV>
<P align="center"><FONT size="2"><B>EXHIBIT INDEX</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD valign="top" align="center">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="91%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top" align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><HR size="1" noshade width="70"></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Restated Certificate of Incorporation of the Registrant dated February&nbsp;17, 1987; Certificate of
Amendment dated January&nbsp;28, 1993; and Certificate of Correction dated May&nbsp;4, 1994, all
incorporated by reference to Exhibit&nbsp;3(a) to the Registrant&#146;s Annual Report on Form&nbsp;10-K for
the year ended June&nbsp;30, 1994.</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the
Registrant, as filed with the Secretary of State of the State of Delaware on February&nbsp;25, 1998,
incorporated by reference to Exhibit&nbsp;3.1 to the Registrant&#146;s Quarterly Report on Form&nbsp;10-Q for
the fiscal quarter ended March&nbsp;31, 1998.</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">4.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Rights Agreement, dated March&nbsp;5, 1998 between the Registrant and The Bank of New York, as
Rights Agent, incorporated by reference to the Registrant&#146;s Registration Statement on Form&nbsp;8-A,
filed with the Commission on March&nbsp;25, 1998.</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">4.4</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By-Laws of the Registrant, as amended and restated through June&nbsp;26, 1996, incorporated by
reference to Exhibit&nbsp;3(b) to the Registrant&#146;s Annual Report on Form&nbsp;10-K for the year ended
June&nbsp;30, 1996.</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Shack Siegel Katz Flaherty &#038; Goodman P.C., counsel for Registrant.</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Shack Siegel Katz Flaherty &#038; Goodman P.C. (contained in the Opinion filed as Exhibit
5 hereto)</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Ernst &#038; Young LLP.</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">24</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (contained on the signature page hereof)</FONT></TD>
</TR>
</TABLE>
</CENTER>


<P align="center"><FONT size="2">&nbsp;</FONT>

</BODY>
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{"company-data": {"conformed-name": "WMS INDUSTRIES INC /DE/", "cik": "0000350077", "assigned-sic": "3990", "irs-number": "362814522", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-101538", "film-number": "02843310"}, "business-address": {"street1": "800 S. NORTHPOINT BLVD.", "city": "WAUKEGAN", "state": "IL", "zip": "60085", "phone": "847-785-3000"}, "mail-address": {"street1": "800 S. NORTHPOINT BLVD.", "city": "WAUKEGAN", "state": "IL", "zip": "60085"}, "former-company": {"former-conformed-name": "WILLIAMS ELECTRONICS INC", "date-changed": "19870519"}}
Registration Statement
Table of Contents
As filed with the Securities and Exchange Commission on November 27, 2002
Registration No. 333-____
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
WMS INDUSTRIES INC.
(Exact name of Registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
36-2814522
(I.R.S. Employer Identification No.)
800 South Northpoint Boulevard, Waukegan, IL 60085
(Address, including zip code, of Registrant's principal executive offices)
2002 STOCK OPTION PLAN
(Full title of the Plan)
Orrin J. Edidin, Esq.
Executive Vice President, General Counsel,
Chief Operating Officer and Secretary
WMS Industries Inc.
800 South Northpoint Boulevard
Waukegan, Illinois 60085
(847) 785-3000
(Name and address, including zip code, and
telephone number, including area code, of agent for service)
Copy to:
Jeffrey N. Siegel, Esq.
Shack Siegel Katz Flaherty & Goodman P.C.
530 Fifth Avenue
New York, New York 10036
(212) 782-0700
TABLE OF CONTENTS
CALCULATION OF REGISTRATION FEE
EXPLANATORY NOTE
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ABOUT THIS PROSPECTUS
RISK FACTORS
USE OF PROCEEDS
SELLING STOCKHOLDERS
PLAN OF DISTRIBUTION
LEGAL MATTERS
EXPERTS
DOCUMENTS INCORPORATED BY REFERENCE
WHERE YOU CAN FIND MORE INFORMATION
SIGNATURES
Power of Attorney
EXHIBIT INDEX
Opinion of Shack Siegel Katz Flaherty & Goodman
Consent of Ernst & Young LLP
Table of Contents
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Amount of
Title of securities
Amount to be
offering price
aggregate
Registration
to be registered
registered (1)
per share
offering price
Fee
Common Stock, par
value $.50(2)(3)
1,500,000 shares
$
16.17
$
24,255,000
$
2,231.46(4)(5)
(1)
Pursuant to Rule 416 under the Securities Act of 1933, this registration
statement also covers an indeterminable number of shares of common stock
which may become issuable pursuant to the anti-dilution provisions of the
2002 Stock Option Plan (the "2002 Plan").
(2)
In accordance with a Rights Agreement entered into between the registrant
and The Bank of New York, dated as of March 5, 1998, each share of common
stock is accompanied by certain stock purchase rights.
(3)
The fee with respect to shares granted under the Plan is computed, in
accordance Rule 457(h)(1) under the Securities Act, based on the average
of the high and low prices of the registrant's common stock reported on
the New York Stock Exchange on November 21, 2002.
(4)
The registration fee has been
reduced by $2,231.46, which is being
offset, under Rule 457(p), against fees previously paid with the
Registrant's registration statement on Form S-3, File No. 333-83021,
initially filed on July 16, 1999. A total fee of $17,724.17 was paid with
that offering to register 4,025,000 shares, which were never sold or
issued in that offering. That registration statement was withdrawn
pursuant to Rule 477 on September 30, 1999.
(5)
$8,995.07 was paid with registration statement no. 33-48363, relating to
1,701,845 shares of common stock; $16,325.33 was paid with registration
statement no. 33-79146, relating to 2,198,902 shares of common stock;
$12,584.47 was paid with registration statement no. 333-06021, relating to
1,644,455 shares of common stock; $4,608.45 was paid with registration
statement no. 333-48697, relating to 515,360 shares of common stock;
$905.65 was paid with registration statement no. 333-57585, relating to
1,000,000 shares of common stock; $7,543.00 was paid with registration
statement no. 333-46726, relating to 1,750,000 shares of common stock;
$4,930.00 was paid with registration statement no. 333-55574, relating to
1,000,000 shares of common stock; and no fee was paid with registration
statement no. 333-87676, relating to a restricted grant of 250,000 shares
of common stock (the fee was reduced by $331.20, pursuant to Rule 457(p)).
These shares are being carried forward in the combined reoffer prospectus
being filed herewith (to the extent that they are or may be control or
restricted securities). See the Rule 429 note immediately below.
As permitted by Rule 429 under the Securities Act of 1933, the prospectus
filed together with this registration statement is a combined resale prospectus
which shall be deemed a post-effective amendment to the registrant's
registration statements numbered 33-48363, 33-79146, 333-06021, 333-48697,
333-57585, 333-46726, 333-55574, and 333-87676, each on Form S-8.
EXPLANATORY NOTE
Registration statements numbered 33-48363, 33-79146, 333-06021, 333-48697,
333-57585, 333-46726, 333-55574, and 333-87676 were filed previously with the
SEC by the registrant to register shares of its common stock, par value $.50
per share: (a) issued or issuable under its 1991 Stock Option Plan, as amended,
its 1993 Stock Option Plan, as amended, its 1994 Stock Option Plan, as amended,
its 1998 Non-Qualified Stock Option Plan, its 2000 Non-Qualified Stock Option
Plan and its 2000 Stock Option Plan (collectively, the "WMS Plans"), (b) issued
to Louis J. Nicastro, under a restricted stock agreement, dated March 1, 2002,
between Mr. Nicastro and the registrant and (c) issued to optionholders in
connection with the 1998 spinoff of registrant's interest in Midway Games Inc.
in accordance with the antidilution provisions of the WMS Plans. This
registration statement is being filed to: (1) register the shares of common
stock issuable under the Registrant's 2002 Stock Option Plan (the "2002 Plan")
and (2)
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file a prospectus as permitted by Form S-8 General Instruction C and Rule
429 under the Securities Act to be used for reoffers and resales by directors
and executive officers of WMS under any of the WMS Plans or the 2002 Plan.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified by Part I will be sent
or given to eligible participants as specified by Rule 428(b)(1) under the
Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The registrant's Annual Report on Form 10-K for the fiscal year ended June
30, 2002, the registrant's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2002, the registrant's Current Report on Form 8-K filed on
November 12, 2002 and the description of the registrant's common stock
contained in the registrant's registration statement on Form 8-A (File No.
1-8300) filed on January 21, 1982 pursuant to Section 12(b) of the Securities
Exchange Act of 1934 (the "Exchange Act"), including all exhibits thereto, are
incorporated herein by reference and made a part of this registration statement
as of the date hereof.
All documents subsequently filed by the registrant under Sections 13(a),
13(c), 14 or 15(d) of the Exchange Act after the effective date of this
registration statement and prior to the termination of the offering of the
common stock offered hereby shall be deemed to be incorporated by reference
into this registration statement and to be a part hereof from the date of
filing of those documents. Any statement contained herein or in a document
incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this registration statement to the
extent that a statement contained herein or in any document which is or is
deemed to be incorporated by reference herein modifies or supersedes such
statement. Any statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this registration
statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
The legality of the issuance of the shares of common stock offered hereby
will be passed upon for the registrant by Shack Siegel Katz Flaherty & Goodman
P.C., 530 Fifth Avenue, New York, New York 10036. As of
November 27, 2002
shareholders of Shack Siegel Katz Flaherty & Goodman P.C. held options to
purchase 30,000 shares of common stock.
Item 6. Indemnification of Directors and Officers.
The registrant's authority to indemnify its officers and directors is
governed by the provisions of Section 145 of the General Corporation Law of the
State of Delaware (the "DGCL"), by the Amended
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and Restated Bylaws of the registrant, as amended (the "Bylaws"), by the
Restated Certificate of Incorporation, as amended, of the registrant (the
"Certificate of Incorporation") and by certain indemnification agreements
entered into with officers and directors (the "Indemnity Agreements").
Under Section 145 of the DGCL, directors and officers as well as other
employees and individuals may be indemnified against expenses (including
attorneys' fees), judgments, fines and amounts paid in settlement in connection
with specified actions, suits or proceedings, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the
corporation (a "derivative action")) if they acted in good faith and in a
manner they reasonably believed to be in or not opposed to the best interests
of the registrant, and with respect to any criminal action or proceeding, had
no reasonable cause to believe their conduct was unlawful. A similar standard
of care is applicable in the case of derivative actions, except that
indemnification only extends to expenses (including attorneys' fees) incurred
in connection with defense or settlement of such an action and the DGCL
requires court approval before there can be any indemnification where the
person seeking indemnification has been found liable to the registrant.
The Certificate of Incorporation and Bylaws of the registrant provide that
the registrant shall, to the fullest extent permitted by Section 145 of the
DGCL, (i) indemnify any and all persons whom it shall have power to indemnify
under said section from and against any and all of the expenses, liabilities or
other matters referred to in or covered by said section, and (ii) advance
expenses related thereto to any and all said persons. The indemnification and
advancement of expenses provided for therein shall not be deemed to be
exclusive of any other rights to which those indemnified may be entitled under
any bylaw, agreement, vote of stockholders or disinterested directors or
otherwise, both as to action in their official capacities and as to action in
another capacity while holding such offices, and shall continue as to persons
who have ceased to be directors, officers, employees or agents and shall inure
to the benefit of the heirs, executors and administrators of such person. In
addition, the Certificate of Incorporation of the registrant provides for the
elimination of personal liability of directors of the registrant to the
registrant or its stockholders for monetary damages for breach of fiduciary
duty as a director, to the fullest extent permitted by the DGCL, as amended and
supplemented.
Each Indemnity Agreement provides for the indemnification of the officer
or director, to the fullest extent permitted by the laws of the State of
Delaware, and obligates the registrant to provide the maximum protection
allowed under Delaware law. In addition, each Indemnity Agreement supplements
and increases such protection in certain respects.
The registrant has purchased Directors, Officers and Corporate liability
insurance policies. The policies cover up to an aggregate amount of $20
million for losses of directors and officers of the registrant arising from
claims made against the directors or officers for any actual or alleged
wrongful act in their capacities as directors or officers of the registrant.
The policies also cover losses of the registrant for securities claims made
against the registrant and for the amount of any indemnification paid to
directors and officers, in each case up to the aggregate limit of $20 million.
Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers or persons controlling the
registrant pursuant to the foregoing provisions, the registrant has been
informed that, in the opinion of the Commission, such indemnification is
against public policy as expressed in the Securities Act and is therefore
unenforceable.
Item 7. Exemption from Registration Claimed.
Not applicable.
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Item 8. Exhibits.
Exhibit No.
Description
4.1
Restated Certificate of Incorporation of the Registrant dated February 17, 1987; Certificate of
Amendment dated January 28, 1993; and Certificate of Correction dated May 4, 1994, all
incorporated by reference to Exhibit 3(a) to the Registrant's Annual Report on Form 10-K for
the year ended June 30, 1994.
4.2
Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the
Registrant, as filed with the Secretary of State of the State of Delaware on February 25, 1998,
incorporated by reference to Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q for
the fiscal quarter ended March 31, 1998.
4.3
Rights Agreement, dated March 5, 1998 between the Registrant and The Bank of New York, as
Rights Agent, incorporated by reference to the Registrant's Registration Statement on Form 8-A,
filed with the Commission on March 25, 1998.
4.4
By-Laws of the Registrant, as amended and restated through June 26, 1996, incorporated by
reference to Exhibit 3(b) to the Registrant's Annual Report on Form 10-K for the year ended
June 30, 1996.
5
Opinion of Shack Siegel Katz Flaherty & Goodman P.C., counsel for the Registrant.
23.1
Consent of Shack Siegel Katz Flaherty & Goodman P.C. (contained in the Opinion filed as Exhibit
5 hereto).
23.2
Consent of Ernst & Young LLP.
24
Power of Attorney (contained on the signature page hereof).
Item 9. Undertakings.
a. The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement to include any material
information with respect to the plan of distribution not previously disclosed
in the registration statement or any material change to such information in the
registration statement.
(2) That, for the purpose of determining liability under the Securities
Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
b. The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange Act
of 1934) that is incorporated by reference in the registration statement shall
be deemed to be a new registration statement
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relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial
bona fide
offering
thereof.
h.     Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the
Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
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RESALE PROSPECTUS
WMS INDUSTRIES INC.
2,024,447 Shares
Common Stock, Par Value $.50
We design, manufacture, market, lease and sell gaming equipment. Our
principal executive office is located at 800 South Northpoint Boulevard,
Waukegan, Illinois 60085, telephone no. (847) 785-3000.
Our common stock is listed on the New York Stock Exchange under the symbol
"WMS".
Our officers and directors who are listed beginning on page 3 below as
"selling stockholders" may sell up to the number of shares of our common stock
listed in the "Shares to be Sold" column opposite their names. Selling
stockholders may sell any of these shares at any time, but they are not
required to sell any shares. The selling stockholders acquired or may acquire
the shares to be offered by them under our employee benefit plans.
None of the
selling stockholders has notified us of an intention to offer any shares for
sale at this time.
Please see "Risk Factors" on page 2 below.
Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or passed upon the
accuracy or adequacy of this prospectus. Any representation to the contrary is
a criminal offense.
The date of this prospectus is November 27, 2002
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ABOUT THIS PROSPECTUS
This prospectus relates to 2,024,447 shares (the "Shares") of our common
stock. The selling stockholders described in this prospectus may sell the
Shares at any time until we terminate this offering. As used in this
prospectus, the terms "we," "us," "our" and "WMS" mean WMS Industries Inc., a
Delaware corporation, and its subsidiaries, unless the context indicates a
different meaning.
We have agreed to pay the expenses incurred in registering the Shares,
including legal and accounting fees.
Most of the information about us that you need to know before you invest
in the Shares is not included in this prospectus. You should obtain and read
the information described below under the headings "Documents Incorporated by
Reference" and "Where You Can Find More Information" in order to get all the
important information about WMS.
RISK FACTORS
Some of the information incorporated by reference or contained in this
prospectus contains "forward-looking statements," within the meaning of the
federal securities laws. These statements describe our plans and beliefs
concerning future business conditions and the outlook for WMS based on
currently available information. Our actual results could differ materially
from those described in the forward-looking statements due to a number of risks
and uncertainties. These risk factors include the following:
•
software anomalies and manipulation of our machines and
software may cost us money, burden our engineering and marketing
resources, involve us in litigation and adversely affect our gaming
licenses;
•
customers and regulators may not accept the upgraded and new
operating systems we expect to introduce in the future;
•
our gaming machine business is heavily regulated, and we must
obtain and maintain our gaming licenses and regulatory approvals for
our games to operate our business;
•
our profitability depends heavily on recurring revenue
participation games that may become restricted or prohibited by law
in some jurisdictions or face increased resistance by operators;
•
patent infringement claims could limit or affect our ability
to market some of our current or new gaming machines;
•
our revenues depend in part upon our ability to obtain and
retain licenses to use intellectual properties and licensors'
approvals of new products on a timely basis;
•
we rely on our intellectual property and proprietary rights;
•
we depend on introducing new games and gaming machines that
achieve and maintain market acceptance;
•
the gaming industry is sensitive to declines in the public
acceptance of gaming;
•
the gaming machine market is intensely competitive, and some
of our competitors have advantages over us;
•
we face risks associated with doing business in international markets;
•
we may have conflicts of interest with Midway Games Inc.;
•
Sumner M. Redstone owns or controls over 24% of our common
stock and, as a result of a settlement of divorce, Phyllis G.
Redstone owns or controls 10% of our common stock, and either or
both of them may dispose of all or a portion of their stock at any
time;
•
the use of our rights plan or blank check preferred stock
would inhibit the acquisition of WMS or have a dilutive effect on
our stock; and
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•
the substantial number of shares available for sale in the
future could have an adverse effect on the market price of our
common stock;
as well as the more detailed descriptions and other items set forth under "Item
1. Business — Risk Factors" in our annual report on Form 10-K and in any more
recent documents incorporated in this prospectus by reference.
USE OF PROCEEDS
We will not receive any of the proceeds from the sale of the common stock
offered by this prospectus, but we will receive the exercise price upon the
exercise of any options by the selling stockholders. We plan to use any such
proceeds for working capital purposes.
SELLING STOCKHOLDERS
This prospectus relates to Shares that are being registered for reoffers
and resales by selling stockholders who have acquired or may acquire Shares
under our stock option plans, as an adjustment to their options under our plans
or as a restricted stock grant. The selling stockholders may resell any or all
of the Shares at any time they choose while this prospectus is effective.
None
of the selling stockholders has notified us of an intention to offer any shares
for sale at this time.
Executive officers and directors, their family members, trusts for their
benefit, or entities that they own, that acquire common stock under our plans
may be added to the selling stockholder list below by a prospectus supplement
filed with the SEC. The number of Shares to be sold by any selling stockholder
under this prospectus also may be increased or decreased by a prospectus
supplement. Non-affiliates who purchased restricted securities, as these terms
are defined in Rule 144(a) under the Securities Act, under any of our employee
benefit plans and who are not named below may use this prospectus for the offer
or sale of their common stock if they hold 1,000 shares or less. Although a
person's name is included in the table below, neither that person nor we are
making an admission that the named person is our "affiliate."
The information in the table below sets forth, for each selling
stockholder, based upon information available to us as of November 27, 2002,
the number of shares of our common stock beneficially owned before and after a
hypothetical sale of the Shares, the maximum number of Shares that may be sold
and the percentage of the outstanding shares of our common stock owned before
and after the hypothetical sale of the Shares.
In the table below, "Shares to be Sold" represents the maximum number of
Shares that could be sold under this prospectus if the holder sold all of his
or her Shares, exercised all of his or her options when vested and sold the
underlying Shares.
The amounts listed under "Shares to be Sold" do not
constitute commitments to sell any or all of the stated number of Shares.
The
actual number of Shares to be sold, if any, shall be determined from time to
time by each Selling Stockholder in his or her discretion.
We have not been
informed whether any selling stockholders intend to sell any Shares at this
time.
Percent of Class (1)
Amount and Nature
Shares that
Shares Beneficially
of Beneficial
may be
Owned After
Before
After
Name and Position
Ownership (1)
Sold
Offering
Offering
Offering
Louis J. Nicastro
10,823,832
(2)
250,000
10,573,832
(2)
35.0
%
34.2
%
Chairman of the Board of Directors
Brian R. Gamache
318,331
(3)
550,000
5,000
*
*
President and Chief Executive Officer
Scott D. Schweinfurth
101,000
(4)
200,000
1,000
*
*
Executive Vice President, Chief Financial Officer and Treasurer
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Percent of Class (1)
Amount and Nature
Shares that
Shares Beneficially
of Beneficial
may be
Owned After
Before
After
Name and Position
Ownership (1)
Sold
Offering
Offering
Offering
Orrin J. Edidin
110,000
(5)
210,000
0
*
0
Executive Vice President, General
Counsel, Chief Operating Officer and
Secretary
Robert R. Rogowski
16,400
(6)
48,400
0
*
0
Vice President of Finance
and Controller
Seamus McGill
87,750
(7)
179,250
0
*
0
Executive Vice President of Sales and
Marketing for WMS Gaming Inc.
Norman J. Menell
57,947
(8)
55,731
2,216
*
*
Vice Chairman of the Board of
Directors
William C. Bartholomay
79,531
(9)
60,731
18,800
*
*
Director
William E. McKenna
126,280
(10)
123,686
2,594
*
*
Director
Donna B. More
75,000
(11)
75,000
0
*
0
Director
Neil D. Nicastro
10,599,214
(12)
30,000
10,569,214
(12)
34.3
%
34.2
%
Director
Harvey Reich
28,421
(13)
28,421
0
*
0
Director
David M. Satz, Jr.
63,500
(14)
62,500
1,000
*
*
Director
Ira S. Sheinfeld
168,903
(15)
150,728
18,202
*
*
Director
*
Less than 1%
(1)
Based on 30,820,753 shares outstanding as of November 27, 2002. Shares
issuable upon the exercise of options exercisable by a person within 60
days are deemed to be outstanding with respect to the calculation of that
person's percent of class.
(2)
Includes 7,483,500 shares owned by Sumner M. Redstone and National
Amusements, Inc. for which the reporting person has shared voting power
but no dispositive power. Also includes 3,085,700 shares owned by Phyllis
G. Redstone for which the reporting person has shared voting power but no
dispositive power. Also includes 250,000 shares of restricted stock over
which Mr. Nicastro has voting power. Louis J. Nicastro is the father of
Neil D. Nicastro.
(3)
Includes 313,331 shares underlying stock options.
(4)
Includes 100,000 shares underlying stock options.
(5)
Represents 110,000 shares underlying stock options.
(6)
Represents 16,400 shares underlying stock options.
(7)
Represents 87,750 shares underlying stock options.
(8)
Includes 50,000 shares underlying stock options and 5,731 shares acquired
pursuant to the anti-dilution provisions of our stock option plans.
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(9)
Includes 50,000 shares underlying stock options and 10,731 shares
acquired pursuant to the anti-dilution provisions of our stock option
plans.
(10)
Includes 112,955 shares underlying stock options and 10,731 shares
acquired pursuant to the anti-dilution provisions of our stock option
plans.
(11)
Represents 75,000 shares underlying stock options.
(12)
Includes 7,483,500 shares owned by Sumner M. Redstone and National
Amusements, Inc. for which the reporting person has shared voting power
but no dispositive power. Also includes 3,085,700 shares owned by Phyllis
G. Redstone for which the reporting person has shared voting power but no
dispositive power. Also includes 30,000 shares underlying stock options.
Neil D. Nicastro, the son of Louis J. Nicastro, was our President, Chief
Executive Officer and Chief Operating Officer prior to April 6, 1998.
(13)
Includes 25,000 shares underlying stock options and 3,421 shares acquired
pursuant to the anti-dilution provisions of our stock option plans.
(14)
Includes 62,500 shares underlying stock options.
(15)
Includes 150,728 shares underlying stock options and 18,202 shares
acquired pursuant to the anti-dilution provisions of our stock option
plans.
PLAN OF DISTRIBUTION
The selling stockholders may sell the common stock only for their own
accounts. The Shares will be listed on the New York Stock Exchange, subject to
official notice of issuance. The selling stockholders, their donees or other
transferees and successors in interest permitted to use Form S-8, under General
Instruction A of Form S-8, may sell or transfer common stock for value in one
or more transactions on the New York Stock Exchange (or any successor stock
exchange), in negotiated transactions or in a combination of these methods of
sale, at market prices prevailing at the time of sale, at prices related to
those market prices or at prices otherwise negotiated.
The selling stockholders may effect transactions by selling Shares to or
through broker-dealers. Those broker-dealers may receive compensation in the
form of underwriting discounts, concessions or commissions from the selling
stockholders and/or the purchasers of the Shares for whom the broker-dealers
may act as agents, which compensation may be more or less than customary
commissions. None of the selling stockholders, at the date of this prospectus,
has any agreement, arrangement or understanding with any broker or dealer to
sell any of the Shares. All selling and other expenses incurred by individual
selling stockholders will be borne by those selling stockholders.
Each Share is sold together with stock purchase rights. These rights are
described in a registration statement on Form 8-A (File No. 1-8300) which we
filed with the SEC on March 25, 1998. See "Documents Incorporated by
Reference."
We do not know whether or not any of the selling stockholders will sell
any or all of their Shares under this prospectus. We may terminate this
offering without notice at any time.
LEGAL MATTERS
The validity of the Shares has been passed upon by our counsel, Shack
Siegel Katz Flaherty & Goodman P.C., New York, New York. As of November 27,
2002, shareholders of Shack Siegel Katz Flaherty & Goodman P.C. hold options to
purchase 30,000 shares of our common stock.
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EXPERTS
Ernst & Young LLP, independent auditors, have audited our consolidated
financial statements and schedule included in our annual report on Form 10-K
for the year ended June 30, 2002, as set forth in their report, which is
incorporated in this prospectus by reference. Our consolidated financial
statements and schedule are incorporated by reference in reliance on their
report, given on their authority as experts in accounting and auditing.
DOCUMENTS INCORPORATED BY REFERENCE
The SEC allows us to "incorporate by reference" into this prospectus the
information that we file with the SEC. This means that we can disclose
important information to you by referring you to those documents. Information
incorporated by reference is part of this prospectus. Information that we file
at a future date with the SEC will update and supersede this information. For
further information about WMS Industries Inc. and our common stock, please read
the documents incorporated by reference below.
We incorporate by reference the documents listed below and all documents
that we file in the future with the SEC under Sections 13(a), 13(c), 14 or
15(d) of the Securities Exchange Act of 1934 until the termination of this
offering:
•
our annual report on Form 10-K for the fiscal year ended June 30, 2002;
•
our quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2002;
•
our current report on Form 8-K, filed on November 12, 2002; and
•
the description of our common stock contained in our
registration statement on Form 8-A (File No. 1-8300) filed on
January 21, 1982.
We will provide to each person, including any beneficial owner, to whom
this prospectus is delivered, a copy of any or all of the information that we
have incorporated by reference in this prospectus. You may request copies of
this information in writing or orally, and we will provide it at no cost. You
may contact us at our principal executive office: 800 South Northpoint
Boulevard, Waukegan, Illinois 60085 (847) 785-3000, Attention: General Counsel.
WHERE YOU CAN FIND MORE INFORMATION
This prospectus constitutes a part of each of nine registration
statements, and amendments to them, that we have filed on Form S-8 with the SEC
concerning the Shares: File Nos. 333-     (filed on November 27, 2002),
333-87676, 333-55574, 333-46726, 333-57585, 333-48697, 333-06021, 33-79146 and
33-48363. We also file annual, quarterly and current reports, proxy statements
and other information with the SEC. You may read and copy the registration
statements and any materials that we file at the SEC's Public Reference Room at
450 Fifth Street, N.W., Washington, D.C. 20549. You may obtain information on
the operation of the Public Reference Room by calling the SEC at
1-800-SEC-0330. Our documents may also be inspected at the offices of the
NYSE, 20 Broad Street, New York, New York 10005. The SEC maintains an Internet
site that contains reports, proxy and information statements and other
information about issuers, including us, that file electronically with the SEC.
The SEC's web site is located at: www.sec.gov.
6
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Waukegan, State of Illinois on this 27th day of
November, 2002.
WMS INDUSTRIES INC.
By:
/s/  Brian R. Gamache
Brian R. Gamache, President and
Chief Executive Officer
Power of Attorney
Each person whose signature to this Registration Statement appears below
hereby appoints Brian R. Gamache and Orrin J. Edidin, and each of them acting
singly, as his or her attorney-in-fact, to sign on his or her behalf
individually and in the capacity stated below and to file all amendments and
post-effective amendments to this Registration Statement, which amendment or
amendments may make such changes and additions to this Registration Statement
as such attorney-in-fact may deem necessary or appropriate.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature
Date
Title
/s/ Louis J. Nicastro
Louis J. Nicastro
November 27, 2002
Chairman of the Board of Directors
/s/ Brian R. Gamache
Brian R. Gamache
November 27, 2002
President and Chief Executive Officer (Principal
Executive Officer)
/s/ Scott D. Schweinfurth
Scott D. Schweinfurth
November 27, 2002
Executive Vice President, Chief Financial Officer
and Treasurer (Principal Financial and Accounting Officer)
/s/ Norman J. Menell
Norman J. Menell
November 27, 2002
Vice Chairman of the Board of Directors
/s/ William C. Bartholomay
William C. Bartholomay
November 27, 2002
Director
/s/ William E. McKenna
William E. McKenna
November 27, 2002
Director
/s/ Donna B. More
Donna B. More
November 27, 2002
Director
/s/ Neil D. Nicastro
Neil D. Nicastro
November 27, 2002
Director
/s/ Harvey Reich
Harvey Reich
November 27, 2002
Director
/s/ David M. Satz, Jr.
David M. Satz, Jr.
November 27, 2002
Director
/s/ Ira Sheinfeld
Ira Sheinfeld
November 27, 2002
Director
Table of Contents
EXHIBIT INDEX
Exhibit
Number
Description
4.1
Restated Certificate of Incorporation of the Registrant dated February 17, 1987; Certificate of
Amendment dated January 28, 1993; and Certificate of Correction dated May 4, 1994, all
incorporated by reference to Exhibit 3(a) to the Registrant's Annual Report on Form 10-K for
the year ended June 30, 1994.
4.2
Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the
Registrant, as filed with the Secretary of State of the State of Delaware on February 25, 1998,
incorporated by reference to Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q for
the fiscal quarter ended March 31, 1998.
4.3
Rights Agreement, dated March 5, 1998 between the Registrant and The Bank of New York, as
Rights Agent, incorporated by reference to the Registrant's Registration Statement on Form 8-A,
filed with the Commission on March 25, 1998.
4.4
By-Laws of the Registrant, as amended and restated through June 26, 1996, incorporated by
reference to Exhibit 3(b) to the Registrant's Annual Report on Form 10-K for the year ended
June 30, 1996.
5
Opinion of Shack Siegel Katz Flaherty & Goodman P.C., counsel for Registrant.
23.1
Consent of Shack Siegel Katz Flaherty & Goodman P.C. (contained in the Opinion filed as Exhibit
5 hereto)
23.2
Consent of Ernst & Young LLP.
24
Power of Attorney (contained on the signature page hereof)