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Claridge Receives Expressions of Interest

Previously, on August 11, 2000, Judge Wizmur of the United States Bankruptcy Court had granted permission to the Committee to hire US Bancorp Libra to locate potential investors.

In order to provide the Corporation's Board of Directors an adequate opportunity to review these expressions of interest, Judge Wizmur has rescheduled the Claridge's confirmation hearing from September 6, 7 and 8, 2000, to October 3, 4 and 5, 2000.

During this period of time Park Place Entertainment and Black Hawk Gaming Development, Inc. will be afforded the opportunity to conduct reasonable due diligence and the Corporation, in turn, will be afforded the opportunity to further clarify these proposals.

On August 16, 1999, the Corporation and The Claridge at Park Place, Incorporated filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in order to facilitate a financial structuring. On October 5, 1999, Atlantic City Boardwalk Associates, L.P. filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code.

The Claridge Hotel and Casino Corporation is a closely-held public corporation and is the issuer of $85 million of 11-3/4% First Mortgage Notes which are publicly traded on the New York Stock Exchange under the symbol CLAR02.

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