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Claridge Reports Revised Balloting Results19 July 2000ATLANTIC CITY, New Jersey--(Press Release)--July 19,2000 --The Claridge Hotel and Casino Corporation (NYSE: CLAR02) (the ``Corporation''), operator of the Claridge Casino Hotel here, today reported revised results of the voting of its creditors regarding its First Amended Joint Plan of Reorganization (the ``Plan''). As previously reported, the holders of the Corporation's $85 million First Mortgage Notes voted to reject the Plan. The vote was 51.3% in amount for acceptance not 58.1% as previously reported. 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 |