MGM Mirage completes deal with Dubai World

LAS VEGAS, Nevada -- (PRESS RELEASE) -- MGM Mirage (NYSE: MGM) today announced that it has completed its previously announced private placement whereby Dubai World, through its wholly-owned subsidiary Infinity World Investments, has purchased 14.2 million shares of common stock of MGM Mirage for a total purchase price of approximately $1.19 billion or $84.00 per share. The shares were issued directly by MGM Mirage to Infinity World Investments from treasury shares held by MGM Mirage. The private placement was completed pursuant to an exemption from the registration requirements under the Securities Act of 1933 and pursuant to the terms and conditions of the Company Stock Purchase and Support Agreement between Infinity World Investments and MGM Mirage.

Immediately following the close of this transaction, Infinity World Investments beneficially owns 14,548,838 shares, representing approximately 4.8% of the outstanding shares, of MGM Mirage's common stock, including 348,838 shares purchased by Dubai World in its tender offer that expired on October 5, 2007. Under the Stock Purchase and Support Agreement, Infinity World Investments may have, among others, certain registration, board participation, and anti-dilution rights. In addition, Infinity World Investments and its affiliates have agreed, subject to limited exceptions, not to beneficially own more than 20% of the outstanding shares of MGM Mirage's common stock.