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MGM Mirage board approves stock repurchase program

LAS VEGAS, Nevada -- MGM Mirage today announced that its Board of Directors has approved a new stock repurchase program authorizing the Company to purchase up to 20 million shares of Company common stock. The purchases can be made from time to time through open market purchases, privately negotiated third party transactions or other transactions including but not limited to tender offers as market conditions warrant.

The Company additionally announced that it has repurchased 5.08 million shares in the current quarter to date, thereby leaving 420,000 shares outstanding under the previous share repurchase program approved in July 2004.

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