Station Casinos to Issue Notes

LAS VEGAS – (Press Release) -- Station Casinos, Inc. (NYSE: STN) today announced it has agreed to issue $400 million in aggregate principal amount of 6.50% senior subordinated notes due February 1, 2014. Subject to customary conditions, the transaction is expected to close on January 29, 2004. Proceeds from this offering will be used to purchase or redeem the Company's $199.9 million in aggregate principal amount of outstanding 8 7/8% senior subordinated notes due in December 2008, reduce the Company's revolving credit facility and for general corporate purposes.

The notes have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act.