MGM MIRAGE Secures Existing Management Team to 2010

September 23, 2005
PRNewswire-FirstCall
LAS VEGAS

MGM MIRAGE (NYSE: MGM) announced today that it has entered into long-term employment contracts with its top five senior executives until 2010.

"With the unanimous support of the Board of Directors, the Compensation and Stock Option Committee undertook the initiative of securing the long-term services of this senior management team," said Jim Aljian, Chairman of the committee. "In consideration of the fact that there is a continued demand for top talent in the industry and in light of the Company's several growth initiatives, the Board believed it to be a strategic imperative to maintain the stability and continuity of this highly successful team."

Accordingly, the Company has entered into employment agreements with five of its most senior executives engaging them through January 4, 2010. Employment agreements have been entered into with J. Terrence Lanni, Chairman and Chief Executive Officer; James J. Murren, President, Chief Financial Officer and Treasurer; Robert H. Baldwin, President and Chief Executive Officer Mirage Resorts; John T. Redmond, President and Chief Executive Officer MGM Grand Resorts; and Gary N. Jacobs, Executive Vice President, General Counsel and Secretary.

For a complete copy of the above mentioned agreements, please refer to the Company's Form 8-K as filed with the Securities and Exchange Commission on September 22, 2005.

MGM MIRAGE (NYSE: MGM) owns and operates 24 properties located in Nevada, Mississippi and Michigan, and has investments in four other properties in Nevada, New Jersey, Illinois and the United Kingdom. MGM MIRAGE has also announced plans to develop Project CityCenter, a multi-billion dollar mixed-use urban development project in the heart of Las Vegas, and has a 50% interest in the MGM Grand Macau hotel/casino under construction in Macau S.A.R. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE also has been the recipient of numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs. For more information about MGM MIRAGE, please visit the company's website at http://www.mgmmirage.com/.

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.

SOURCE: MGM MIRAGE

CONTACT: News Media, Alan M. Feldman, Senior Vice President Public
Affairs, +1-702-891-7147, or Investment Community, James J. Murren, President,
Chief Financial Officer & Treasurer, +1-702-693-8770, both of MGM MIRAGE

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