Venetian President William P. Weidner stated that The Venetian expects to begin booking group reservations for the week of April 21, 1999.

"We are still hopeful that our construction manager, Lehrer McGovern Bovis, will be able to complete construction of the project earlier than expected, by April 14," said Weidner.

"However, because of the extraordinary scope and complexity of this project, as well as the large number of components which are being constructed by tenants and third parties, it is difficult to commit firm reservations at this time to groups of rooms for opening earlier than the originally scheduled completion date.

"Most likely, we will take reservations for rooms on an individual or 'as available' basis commencing the week of April 14, rather than commit to longer lead time confirmation of groups prior to April 21.

"This will provide us with the flexibility to accept individual reservations on a short-term basis consistent with our training and systems turnover schedules, and will allow us to control reservation and check-out flow to fully test automated systems."

Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including general economic conditions, acts of God, and competition for construction, hotel, casino, food and beverage, and related labor and materials in the Las Vegas market. Reference is hereby made to the "Risk Factors" set forth in the company's Form S-4 filed with the Securities and Exchange Commission.