China Diaoyutai State Guesthouse, located in the ancient Fishing Terrace complex in Beijing, is a venue for important diplomatic activities of the leaders of China. As the state guesthouse accommodating visiting Heads of State and government, senior government officials and celebrities, it has received more than 1000 Heads of State and government since its inauguration nearly 50 years ago. Diaoyutai is an important site of major intergovernmental conferences, and is world recognized for its facilities and service. When Henry Kissinger was a guest of China in 1971, it was at Diaoyutai State Guesthouse that he and Chou En-Lai shook hands--this was the first handshake in 29 years between China and the USA. In 1991 the Beijing Tourist Bureau evaluated all the hotels in Beijing, Diaoyutai proclaimed that they would maintain five star service and not participate in the five star rating program because it is not a hotel but the government's state guesthouse. However, the Beijing Tourist Bureau still ranks Diaoyutai as number one. The name "Diaoyutai" means "Angling platform", and is so named because the site was a favourite fishing spot of Emperor Zhangzong of Jin China.

Terry Lanni, Chairman and Chief Executive Officer of MGM MIRAGE, said: "We are pleased to have reached a definitive agreement with the Diaoyutai State Guesthouse, an institution which has a unique role in the People's Republic of China. The 'Diaoyutai' brand is world-renowned. We believe that the association of 'MGM Grand' and 'Diaoyutai' will provide significant opportunities to build on the strengths of our two organizations and to expand our brand identity in rapidly growing international markets. We and our partners at Diaoyutai State Guesthouse are actively reviewing possible initial projects."

MGM MIRAGE (NYSE: MGM), one of the world's leading and most respected hotel and gaming companies, owns and operates 22 properties located in Nevada, Mississippi and Michigan, and has investments in three other properties in Nevada, New Jersey and Illinois. 
    
Statements in this release which are not historical facts are "forward looking" statements and "safe harbor statements" under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the company's public filings with the Securities and Exchange Commission.

MGM MIRAGE
http://www.mgmmirage.com