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The Sands Regent Reports Changes in Board of Directors

6 November 2003

RENO, Nevada – (Press Release) -- The Sands Regent (Nasdaq: SNDS) announced today that longtime Board of Directors Chairman Katherene Latham and Board member Peter Cladianos, Jr. have retired from the Board, but will continue to advise the Company as consultants. In addition, the Company announced that current Board member Jon N. Bengtson, 59, has been elected Chairman, while Douglas M. Hayes, 59, has joined the Board as an independent member.

Mr. Bengtson has served as a Director of The Sands Regent since August 1984. Since January 1998, he has held various positions with Sharegate, Inc., a telecommunications company, and since July 2000, he has served as its Chief Financial Officer and Director. Since January 1996, he has served as Chairman of the Board of Directors of Radica Games, Limited, where he was Executive Vice President and Chief Operating officer from January 1996 to January 1998.

Mr. Hayes has headed Hayes Capital Corporation, based in Los Angeles, since 1997. He also served as Chairman of Compass Aerospace Corporation from 1998 to 2002. Previously, he was Managing Director of Donaldson, Lufkin & Jenrette between 1986 and 1997; of Merrill Lynch Capital Markets, 1984 to 1986, and of A.G. Becker & Company, 1974 to 1984. He is a veteran of the U.S. Navy, having attained the rank of Lieutenant. JG, and holds a BA from Dartmouth College and an MBA from Harvard Business School. He serves as an independent director and on board committees for Reliance Steel & Aluminum, Circor International, Inc. and GameTech International. He is active in a number of community and charitable concerns.

"Over the years, we have come to value the insights and guidance of Katherene Latham and Pete Cladianos very highly," commented Ferenc Szony, the Company's President and Chief Executive Officer. "We wish them well in their further endeavors and look forward to continuing to receive their counsel as expert outside consultants. At the same time, we are pleased to announce that Jon Bengtson has agreed to build upon his distinguished record of service to our Company as our new Chairman of the Board. We also welcome Douglas Hayes, whose background in finance and investing and experience as an outside director will bring worthwhile new growth-oriented perspectives to the Board. We are pleased to increase the independence of our Board by means of these changes, and are proud to be among the companies that set higher corporate governance standards by electing our Directors annually."

The Sands Regent owns and operates the Sands Regency Casino and Hotel in downtown Reno, Nevada and 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 275 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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