MGM MIRAGE Named Fortune Magazine's 'Most Admired' Casino Resort Company

March 03, 2004
PRNewswire-FirstCall
LAS VEGAS

Fortune Magazine has named MGM MIRAGE (NYSE: MGG) one of "America's Most Admired Companies" in its annual survey of companies with large U.S. operations.

MGM MIRAGE outscored all competitors in the "Most Admired" Hotels/Casinos/Resorts category. Overall, MGM MIRAGE ranked second in the Hotels/Casinos/Resorts category after Marriott International, a non-casino hotel resort company.

MGM MIRAGE has been named to Fortune's "America's Most Admired Companies" industry list each year since the merger of MGM Grand, Inc. and Mirage Resorts, Inc. created MGM MIRAGE in 2001. In both 2002 and 2003, MGM MIRAGE also outscored all competitors and ranked second in the category after Marriott International.

"We are very pleased to once again be named our industry's top hotel casino resort company in this very prominent survey," said J. Terrence Lanni, Chairman and Chief Executive Officer of MGM MIRAGE. "This ranking reflects our company's sound business practices, long-term financial viability, and the quality and commitment of our 40,000 employees."

To identify "America's Most Admired Companies" for 2004, Fortune and its survey partner, the Hay Group, asked 10,000 executives, directors and securities analysts to select the 10 largest companies they admire most in their industry, based on eight criteria. Criteria included: innovation, financial soundness, employee talent, quality of management, use of corporate assets, long-term investment, social responsibility, and quality of products/services.

In a 2003 survey, Fortune Magazine named MGM MIRAGE one of "America's 50 Best Companies For Minorities."

MGM MIRAGE (NYSE: MGG), one of the world's leading and most respected hotel and gaming companies, owns and operates 12 casino resorts located in Nevada, Mississippi, Michigan and Australia, and has investments in two other casino resorts in Nevada and New Jersey. The company is headquartered in Las Vegas, Nevada, and offers an unmatched collection of casino resorts with a limitless range of choices for guests. Guest satisfaction is paramount, and the company has approximately 40,000 employees committed to that result. Its portfolio of brands include AAA Five Diamond award winner Bellagio, MGM Grand Las Vegas - The City of Entertainment, The Mirage, Treasure Island ("TI"), New York - New York, Boardwalk Hotel and Casino and 50 percent of Monte Carlo, all located on the Las Vegas Strip; Whiskey Pete's, Buffalo Bill's, Primm Valley Resort and two championship golf courses at the California/Nevada state line; the exclusive Shadow Creek golf course in North Las Vegas; Beau Rivage on the Mississippi Gulf Coast; and MGM Grand Detroit Casino in Detroit, Michigan. The Company is a 50-percent owner of Borgata, a destination casino resort at Renaissance Pointe in Atlantic City, New Jersey. Internationally, MGM MIRAGE holds a 25 percent interest in casino developer Metro Casinos Limited of Great Britain. The Company has entered an agreement to sell MGM Grand Australia in Darwin, Australia pending finalization. For more information about MGM MIRAGE, please visit the company's website at http://www.mgmmirage.com/ .

SOURCE: MGM MIRAGE

CONTACT: Yvette Monet, MGM MIRAGE Public Affairs, +1-702-891-7892

Web site: http://www.mgmmirage.com/