In Memoriam: Fred Benninger, Former MGM Grand and Metro-Goldwyn-Mayer Chairman, 1917-2004

March 02, 2004

Fred Benninger, former MGM Grand, Inc. Chairman and Chief Executive Officer and MGM MIRAGE Board of Directors member, passed away Sunday, Feb. 29, 2004. He was 86.

"We are all deeply saddened at Fred's passing, as he was a towering force in shaping the structure of policies and practices of the gaming profession and was a tremendous influence in building our industry into the success that it is today," said Terry Lanni, Chairman and Chief Executive Officer of MGM MIRAGE.

"He will long be remembered for his steadfast commitment to MGM MIRAGE, Las Vegas and the entire gaming profession."

Throughout his career, Mr. Benninger served in senior capacities in the gaming, entertainment and transportation industries.

Mr. Benninger was Executive Vice President and General Manager of Flying Tiger Line from 1946 to 1967.

Mr. Benninger served as President of International Leisure Company from 1967 to 1971 during which time he developed and built the International Hotel (now the Las Vegas Hilton) and oversaw a renovation of the Flamingo Hotel (now the Flamingo Las Vegas), which was initially used to train employees for the International Hotel.

Mr. Benninger served as Chairman of Metro-Goldwyn-Mayer studios from 1971 to 1980. During this period he developed and built the original MGM Grand Hotel (now Bally's Las Vegas) and was that hotel's Chairman and Chief Executive Officer from 1971 to 1982. He also built the former MGM Grand Hotel, Reno (now the Reno Hilton).

Mr. Benninger also served as Chairman of Western Airlines from 1972 to 1978. He was named President of Tracinda Corporation from 1982 to 1986.

Mr. Benninger then became Chairman and Chief Executive Officer of MGM Grand, Inc. from 1986 to 1991. In this role, he developed the current MGM Grand Hotel, Las Vegas.

He has served as a member of the Board of Directors for MGM Grand, Inc. and MGM MIRAGE since 1986, was on the Executive Committee of the Board and was also Chairman of the Audit Committee.

Originally born in Gunsburg, Germany in 1917, he immigrated to the United States in 1928, and graduated with honors from the University of Southern California in 1941. He served in the United States Army Air Forces for four years during World War II.

Mr. Benninger is survived by his wife of 58 years, Esther, and their two children, Tom and Christine.

Services will be private. A memorial will be held at a later date.

In lieu of flowers, the family requests that donations be made to the Nevada Cancer Institute, attention: Jennifer Haley, 10000 W. Charleston Blvd., Suite 260, Las Vegas, Nevada 89135.


CONTACT: Alan Feldman, Senior Vice President, Public Affairs of MGM
MIRAGE, +1-702-891-7147