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Sands Vice President, CFO Steps Down

After over seventeen years with The Sands Regent, Mr. Wood is retiring from his position as an Officer and Director of the Company. He will continue with certain advisory activities as a consultant to the Board of Directors for at least the next six months. Mr. Woods' duties will be assumed by other Sands Regent executive team members.

Mr. Wood stated, "After seventeen years at the Sands, on a day-to-day basis, it is time to take some personal time off and possibly do a little traveling. There will also be some time to pursue other interests and new opportunities."

Ferenc B. Szony, President and Chief Executive Officer, stated, "The long time association with Mr. Wood has been fruitful and enjoyable. He has been instrumental in many of the successes here, and his day-to-day experience and expertise will be missed."

The Sands Regent owns and operates the Sands Regency Casino and Hotel in downtown Reno, Nevada and, now, Gold Ranch Casino and RV Resort in Verdi, Nevada. The Sands Regency is an 850-room hotel and casino with 29,000 square feet of gaming space offering table games, keno, bingo and slot machines. In addition to complete amenities and on-site brand-name restaurants, the Company's property also includes a 12,000-square-foot convention and meeting center which seats close to 1,000 people.

The Gold Ranch Casino and RV Resort is located in Verdi, Nevada, twelve miles west of Reno. Gold Ranch offers approximately 300 slot machines in an 8,000 square foot casino, two restaurants, two bars, a 105-space RV park, a California lottery station, an ARCO gas station and a convenience store.

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