Station Casinos Commences Tender Offer

4 Mar 2004

LAS VEGAS -- (Press Release) -- Station Casinos, Inc. (NYSE:STN) announced today that it has commenced a cash tender offer and consent solicitation (the "Offer") for any and all of its $400,000,000 aggregate principal amount of 8-3/8% Senior Notes due 2008 (the "Notes")

The Offer is scheduled to expire at 12:00 midnight, New York City time, on Tuesday, March 30, 2004, unless extended or earlier terminated (the "Expiration Date"). The consent solicitation will expire at 5:00 p.m., New York City time, on Tuesday, March 16, 2004 (the "Consent Date"). Holders tendering their Notes will be required to consent to certain proposed amendments to the indenture governing the Notes, which will eliminate substantially all of the restrictive covenants. Holders may not tender their Notes without delivering consents or deliver consents without tendering their Notes.

Holders who validly tender their Notes by the Consent Date will receive the total consideration of $1,092.55 per $1,000 principal amount of Notes (if such Notes are accepted for purchase). Holders who validly tender their Notes after the Consent Date and prior to the Expiration Date will receive as payment for the Notes $1,082.55 per $1,000 principal amount of Notes (if such Notes are accepted for purchase), which does not include the $10 per $1,000 principal amount of Notes consent payment. In either case, holders who validly tender their Notes also will be paid accrued and unpaid interest up to, but not including, the date of payment for the Notes (if such Notes are accepted for purchase).

Holders who validly tender their Notes by the Consent Date will receive payment on the initial settlement date, which is expected to be on or about March 17, 2004.

The Offer is subject to the satisfaction of certain conditions, including the Company's receipt of tenders of Notes representing a majority of the principal amount of the Notes outstanding and senior financing on terms acceptable to the Company in an amount sufficient to consummate the Offer. The terms of the Offer are described in the Company's Offer to Purchase and Consent Solicitation Statement dated March 3, 2004, copies of which may be obtained from D.F. King & Co., Inc., the information agent for the Offer.

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	Station Casinos Commences Tender Offer 4 Mar 2004 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> LAS VEGAS -- (Press Release) -- Station Casinos, Inc. (NYSE:STN) announced today that it has commenced a cash tender offer and consent solicitation (the "Offer") for any and all of its $400,000,000 aggregate principal amount of 8-3/8% Senior Notes due 2008 (the "Notes") The Offer is scheduled to expire at 12:00 midnight, New York City time, on Tuesday, March 30, 2004, unless extended or earlier terminated (the "Expiration Date"). The consent solicitation will expire at 5:00 p.m., New York City time, on Tuesday, March 16, 2004 (the "Consent Date"). Holders tendering their Notes will be required to consent to certain proposed amendments to the indenture governing the Notes, which will eliminate substantially all of the restrictive covenants. Holders may not tender their Notes without delivering consents or deliver consents without tendering their Notes. Holders who validly tender their Notes by the Consent Date will receive the total consideration of $1,092.55 per $1,000 principal amount of Notes (if such Notes are accepted for purchase). Holders who validly tender their Notes after the Consent Date and prior to the Expiration Date will receive as payment for the Notes $1,082.55 per $1,000 principal amount of Notes (if such Notes are accepted for purchase), which does not include the $10 per $1,000 principal amount of Notes consent payment. In either case, holders who validly tender their Notes also will be paid accrued and unpaid interest up to, but not including, the date of payment for the Notes (if such Notes are accepted for purchase). Holders who validly tender their Notes by the Consent Date will receive payment on the initial settlement date, which is expected to be on or about March 17, 2004. The Offer is subject to the satisfaction of certain conditions, including the Company's receipt of tenders of Notes representing a majority of the principal amount of the Notes outstanding and senior financing on terms acceptable to the Company in an amount sufficient to consummate the Offer. The terms of the Offer are described in the Company's Offer to Purchase and Consent Solicitation Statement dated March 3, 2004, copies of which may be obtained from D.F. King & Co., Inc., the information agent for the Offer.