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Analyst Ups Park Place Rating

3 December 2003

NEW YORK – As reported by the CBS MarketWatch: "Shares of Park Place Entertainment, soon to be renamed Caesars Entertainment, headed up to Boardwalk Wednesday after a top industry analyst said it was time to `buy' the No. 1 casino operator.

"Merrill Lynch's David Anders upped his rating from `neutral,' citing the possibility of better-than-expected results in Atlantic City, rising room rates in Las Vegas and expansion at the company's flagship Caesars Palace.

"Shares of Park Place gained 3 percent to $10.53, a hair off the 52-week high it touched Monday.

"…Park Place is poised to capitalize on those trends, especially since `expansion projects primarily at Caesars Palace should continue to drive results in 2004 and beyond.'…"

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