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Seneca Gaming Reports Notes Offering

10 May 2005

NIAGARA FALLS, New York – (PRESS RELEASE) -- Seneca Gaming Corporation (SGC) today announced that it is commencing an offering of an aggregate principal amount of $200 million of additional 7 1/4% senior notes due 2012 pursuant to an exemption from registration under the Securities Act of 1933. The issuance would be an add-on to the existing aggregate principal amount of $300 million of 7 1/4% senior notes due 2012 that were issued in May 2004. The add-on senior notes would have substantially identical terms to, and form a single series with, the previously issued senior notes.

The net proceeds of the offering would be used to pay the amount owed by Seneca Niagara Falls Gaming Corporation to Freemantle Limited (Freemantle) pursuant to a termination agreement entered into by the parities yesterday to terminate the $80 million loan that Freemantle provided in November 2002 for the construction and development of Seneca Niagara Casino, which termination payment amount is expected to be approximately $126 million, to fund certain costs associated with the expansion of SGC's operations, and for general corporate purposes.

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