MGM Grand Completes Acquisition of Mirage Resorts; Executive Team Restructured / June 2000

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MGM Grand Completes Acquisition of Mirage Resorts;
Executive Team Restructured
MGM Grand Now Includes 18 Properties on Three Continents,
50,000 Employees

LAS VEGAS, June 1, 2000 - With the completion of the historic acquisition of Mirage Resorts, Incorporated (NYSE: MIR) by MGM Grand, Inc. (NYSE: MGG), Terry Lanni, Chairman of the combined companies today announced its new executive team.

The company will be headquartered in Las Vegas at offices in both the Bellagio and MGM Grand hotels.

MGM Grand, Inc. Co-CEO John T. Redmond will be responsible for the MGM Grand Hotel and Casino - The City of Entertainment and New York - New York Hotel and Casino in Las Vegas, the resorts in Primm, Nevada, the MGM Grand Detroit Casino and future development in Atlantic City.

Mirage Resorts President and CEO Robert H. Baldwin will be responsible for Bellagio, The Mirage, Treasure Island, the Boardwalk Hotel and Casino and The Golden Nugget all in Las Vegas, The Golden Nugget in Laughlin, Nevada and Beau Rivage in Biloxi, Mississippi. Mr. Baldwin will also continue to serve as President and COO of Bellagio, a position he has held since its opening in October of 1998.

Daniel M. Wade, Co-CEO of MGM Grand, Inc. will be responsible for several major corporate functions including public affairs, entertainment, corporate security and regulatory compliance. Mr. Wade will also be principally responsible for developing synergies within the combined company and for the sale of non-strategic assets resulting from the acquisition.

James J. Murren, MGM Grand, Inc. President and CFO, will oversee all corporate finance functions including capital markets, investor relations, internal audit as well as lender relations. In addition, Mr. Murren will be responsible for the Company�s international operations in Australia and South Africa.

The Company also announced today the appointment of Gary N. Jacobs to Executive Vice-President - General Counsel. Mr. Jacobs comes to MGM Grand from the Los Angeles law firm of Christensen, Miller, Fink, Jacobs, Glaser, Weil & Shapiro, LLP where he served as a partner.

�This structure allows us to combine our executive teams strategically, providing optimum support to the operating entities,� said Mr. Lanni. �We will place a priority on the successful combination of our assets and continue to explore additional development opportunities.�

MGM Grand Completes $6.4 Billion Acquisition Of Mirage Resorts
LAS VEGAS, May 31, 2000 - MGM Grand, Inc. (NYSE: MGG) today announced that it has completed the $6.4 billion acquisition of Mirage Resorts, Incorporated (NYSE: MIR). The acquisition, the largest ever in the gaming industry, was closed only 87 days after the date the deal was announced on March 6, 2000.

�This historic transaction creates a dream combination of assets and people and results in a company that is unquestionably the best in the industry,� said Terry Lanni, chairman of MGM Grand, Inc.

�MGM Grand, Inc. now includes 18 stellar properties on three continents representing the best brands in the business. Our guests will be offered the most highly recognized restaurants, spectacular shows and leisure activities, and shopping at the finest names in fashion. Our greatest asset is a family of almost 50,000 employees and cast members committed to providing unrivaled customer service,� said Mr. Lanni.

�As promised when the acquisition was announced, the combined company has received an investment grade rating by both Moody�s and Standard & Poor�s. We strongly believe that the revenue enhancement and cost reduction opportunities and non-strategic asset sales arising out of this transaction will create a meaningful increase in the value of MGM Grand stock,� said Mr. Lanni.

John Redmond to Direct MGM Grand/Mirage Activity in Atlantic City
LAS VEGAS, June 1, 2000 - MGM Grand, Inc. (NYSE: MGG) today announced John T. Redmond, Co-CEO of MGM Grand has been appointed to direct the Company�s efforts to develop one or more resorts in Atlantic City.

�We are committed to being an integral part of Atlantic City�s future,� said Terry Lanni, Chairman of MGM Grand, Inc. �The Borgata resort, our joint venture with Boyd Gaming, will move ahead as planned. Following the start-up of the Borgata resort, we are fortunate to have several additional development options open to us and Mr. Redmond will evaluate which of these have the highest strategic value for our Company,� Mr. Lanni said.

�We believe that our real estate holdings uniquely position us to grow with the community well into the future,� said Mr. Redmond.

Mr. Redmond�s career in the gaming industry spans two decades. He began as a senior agent in the audit division of the Nevada Gaming Control Board in 1980 before joining Caesars Palace in 1985. During his ten-year career with Caesars Palace, Mr. Redmond held several financial positions rising to Senior Vice President and CFO in 1995. He joined MGM Grand Development in 1996 and was instrumental in the casino licensing and development process of the highly successful MGM Grand Detroit Casino. On March 1, 1999, Mr. Redmond was named President and COO of Primadonna Resorts and was later named Co-CEO of MGM Grand, Inc. in December 1999.

MGM Grand, Inc. is an entertainment, hotel and gaming company headquartered in Las Vegas, Nevada, which owns and/or operates through subsidiaries 18 casino properties on three continents. Its U.S. holdings include: the MGM Grand Hotel and Casino - The City of Entertainment, Bellagio, The Mirage, Treasure Island, New York - New York Hotel and Casino, the Boardwalk Hotel and Casino and 50% of Monte Carlo, all located on the Las Vegas Strip; The Golden Nugget in Downtown Las Vegas; Whiskey Pete�s, Buffalo Bill�s and the Primm Valley Resort in Primm, Nevada as well as two championship golf courses at the California/Nevada stateline; The Golden Nugget in Laughlin, Nevada; the Beau Rivage Resort on the Mississippi Gulf Coast; and the MGM Grand Detroit Casino in Detroit, Michigan. The company is a joint venture partner on a resort under development in Atlantic City, New Jersey and also controls several development sites in the ocean-front resort community. Internationally, MGM Grand owns and operates the MGM Grand Hotel and Casino in Darwin, Australia and manages casinos in Nelspruit, Witbank and Johannesburg, Republic of South Africa.

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.

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Contact:
MGM Grand, Inc.
http://www.mgmgrand.com
http://www.mirageresorts.com

Also See:	I Stephen and Elaine Wynn Sign Definitive Agreement to Acquire the Desert Inn Hotel and Casino for Approximately $270 million / May 2000
	I MGM Grand Reports Record First Quarter Revenue, Cash Flow and Earnings; MGMGrand Las Vegas Recorded an ADR of $110 and Occupancy of 97.2% / April 2000

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