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Corum, WSOP Sign Sponsorship Deal

19 June 2006

LAS VEGAS, Nevada -- (PRESS RELEASE) -- A subsidiary of Harrah's Entertainment, Inc. (NYSE:HET) and Corum have signed a letter of intent to enter into a six-year sponsorship deal that designates the luxury Swiss watchmaker as the "Official Timepiece of the World Series of Poker" (WSOP). The letter of intent is non-binding and is subject to definitive documentation.

"This is a landmark deal for the World Series of Poker," said Jeffrey Pollack, WSOP commissioner. "The world's most prestigious poker tournament fits perfectly with a luxury brand like Corum. We both share a commitment to excellence and distinction, and we share a deep passion for the excitement, heritage and richness of poker."

"Corum is 'all in' for the World Series of Poker," said Michael Wunderman, president of Corum. "Being the luxury watch brand that takes risks with our daring designs and distinctive innovations, there is no better partnership than with the WSOP. Setting the trends and not following them is what sets us both apart in our industries."

The letter of intent calls for Corum to produce and market timepieces inspired by the World Series of Poker brand. In addition, Corum will develop special timepieces exclusively for WSOP champions and present a specially made timepiece each year to the nine players who make the final table of the $10,000 buy-in No-Limit Texas Hold'em World Championship.

All stages in Corum's history have been marked by an impressive succession of genuine horological masterpieces, associating stunning designs and original technical innovations in a range of patented or copyrighted models. Corum offers a wide range of unique models, not only exciting the passions of the most demanding collectors but also offering incomparable original pieces to lovers of grand complications - all combining "the noble watchmaking tradition of the 18th Century with new technologies of the 21st Century."

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