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President Casinos Reports Loss

ST. LOUIS, Missouri -- (PRESS RELEASE) -- President Casinos, Inc. (OTC:PREZQ.OB) today announced results of operations for the second quarter ended August 31, 2004.

For the three-month period ended August 31, 2004, the Company reported a net loss of $0.7 million, or $0.15 per share, compared to net income of $42,000 for the three-month period ended August 31, 2003. Revenues for the three-month period ended August 31, 2004 were $29.2 million, compared to revenues of $31.1 million for the three-month period ended August 31, 2003.

Revenues for the six-month period ended August 31, 2004 were $58.4 million, compared to revenues of $63.2 million for the six-month period ended August 31, 2003. For the six-month period ended August 31, 2004, the Company reported a net loss of $1.3 million, or $0.26 per share, compared to net income of $0.4 million, or $0.08 per share, for the six-month period ended August 31, 2003.

President Casinos, Inc. owns and operates dockside gaming facilities in Biloxi, Mississippi and downtown St. Louis, Missouri, north of the Gateway Arch.

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