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Archon to Remove Director Employed by Competitor

7 November 2002

WASHINGTON, DC – As reported by the Dow Jones: "Gaming company Archon Corp. said it has approved the dismissal of Thomas K. Land as a director, according to a definitive proxy statement filed Thursday with the Securities and Exchange Commission.

"The decision to dismiss Land was approved by Chairman, President and Chief Executive Paul W. Lowden, who holds a 79.36% stake in the company, with 4.98 million shares.

"…Land resigned as chief financial officer, secretary and treasurer on May 10 to pursue other employment and is working for a competitor.

"…Lowden said he believes there would have been a conflict of interest if Land had been a director while working for a competitor, the filing said…"

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