MGM Mirage responds to Tracinda advice

LAS VEGAS, Nevada -- (PRESS RELEASE) -- MGM Mirage(NYSE: MGM) announced that its majority stockholder Tracinda Corporation advised the Company's Board of Directors at yesterday's regularly scheduled meeting that it had determined not to pursue negotiations regarding a possible acquisition of the Company's Bellagio and CityCenter properties, and that it would be making a public announcement to that effect. In view of this advice, the Board of Directors terminated the Transactions Committee formed to consider any proposal that Tracinda might choose to make.

J. Terrence Lanni, MGM Mirage's Chairman and Chief Executive Officer said: "We are very gratified by the overwhelming interest in our company that followed Tracinda's initial announcement. We want to thank the Transactions Committee and its advisors, UBS Investment Bank and Weil, Gotshal & Manges LLP, for their efforts during this period."