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MGM Grand, Inc. to Operate as MGM MIRAGE

``This new name takes full advantage of two of the most powerful brands in the gaming and entertainment industry,'' said Terry Lanni, Chairman of the Board of MGM MIRAGE. ``MGM MIRAGE leads the industry with a family of assets and brand identities that is second to none.''

MGM MIRAGE brands include Bellagio, The Mansion at MGM Grand, The Mirage, Treasure Island, MGM Grand Casino Hotel - The City of Entertainment, New York New York, the Resorts at Primm Valley and the Golden Nugget.

``The ability to offer customers an unrivaled range of experiences in restaurants, shows, hotels, shopping and gaming from such a spectacular selection of leading brands will give us an edge in this highly competitive industry for years to come,'' said Mr. Lanni.

MGM Grand, Inc. is an entertainment, hotel and gaming company headquartered in Las Vegas, Nevada, which owns and/or operates through subsidiaries 18 casino properties on three continents. Its U.S. holdings include: the MGM Grand Hotel and Casino - The City of Entertainment, Bellagio, The Mirage, Treasure Island, New York - New York Hotel and Casino, the Boardwalk Hotel and Casino and 50% of Monte Carlo, all located on the Las Vegas Strip; The Golden Nugget in Downtown Las Vegas; Whiskey Pete's, Buffalo Bill's and the Primm Valley Resort in Primm, Nevada as well as two championship golf courses at the California/Nevada stateline; The Golden Nugget in Laughlin, Nevada; the Beau Rivage Resort on the Mississippi Gulf Coast; and the MGM Grand Detroit Casino in Detroit, Michigan. The company is a joint venture partner on a resort under development in Atlantic City, New Jersey and also controls several development sites in the ocean-front resort community. Internationally, MGM Grand owns and operates the MGM Grand Hotel and Casino in Darwin, Australia and manages casinos in Nelspruit, Witbank and Johannesburg, Republic of South Africa.

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