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Argosy Appoints New Vice President, Treasurer

12 December 2002

ALTON, Illinois – (Press Release) -- Argosy Gaming Company (NYSE: AGY) today announced that Erin Williams has been appointed to the position of Vice President & Treasurer. In this capacity, she will be responsible for the treasury and investor relations functions, and will assume the responsibilities of Dan Marshall, Vice President Investor Relations and Treasurer, upon his retirement in the second quarter of 2003.

Williams most recently served as Director of Investor Relations for Royal Caribbean Cruises Ltd. in Miami, FL, where she was the primary contact for all buy and sell-side analysts and investors, as well as the primary contact for both the New York and Oslo stock exchanges for the company. She began her career in 1987 at Broder and Company Incorporated in New York as a trading assistant, then moved in 1989 to Union Bank of Switzerland in New York where she served as Assistant Treasurer, first for Precious Metals, then for Foreign Exchange. She served as Assistant Treasurer for Republic International Bank of New York in Miami before joining Bancafe in Miami in a similar position, where she was responsible for managing and developing correspondent banking activities and foreign exchange business. Williams received a Bachelor of Arts Degree from Cornell University in 1987.

Dale Black, Senior Vice President and Chief Financial Officer said, "Erin will be a tremendous addition to the Argosy management team. The experience she has gained during her years in banking and while at Royal Caribbean will serve us well as we continue to investigate growth opportunities for our company. She will most certainly carry on the traditions of Dan Marshall, whose dedication, candor and knowledge of the gaming industry have served as the foundation for Argosy's excellent reputation with Wall Street and the investment community."

Argosy is a leading owner and operator of riverboat casinos and related entertainment and hotel facilities in the midwestern and southern United States. Argosy owns and operates the Alton Belle Casino in Alton, Illinois, serving the St. Louis metropolitan market; the Argosy Casino-Riverside in Missouri, serving the greater Kansas City metropolitan market; the Argosy Casino-Baton Rouge in Louisiana; the Belle of Sioux City in Iowa; the Argosy Casino-Lawrenceburg in Indiana, serving the Cincinnati and Dayton metropolitan markets; and the Empress Casino Joliet in Illinois, serving the greater Chicagoland market.

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