3rd Mar 2004

Fortune Magazine has named MGM MIRAGE one of “America’s Most Admired
Companies” in its annual survey of companies with large U.S. operations.
MGM MIRAGE outscored all competitors in the “Most Admired”
Hotels/Casinos/Resorts category. Overall, MGM MIRAGE ranked second in the
Hotels/Casinos/Resorts category after Marriott International, a non-casino
hotel resort company.

MGM MIRAGE has been named to Fortune’s “America’s Most Admired Companies”
industry list each year since the merger of MGM Grand, Inc. and Mirage
Resorts, Inc. created MGM MIRAGE in 2001. In both 2002 and 2003, MGM
MIRAGE also outscored all competitors and ranked second in the category
after Marriott International.

“We are very pleased to once again be named our industry’s top hotel
casino resort company in this very prominent survey,” said J. Terrence
Lanni, Chairman and Chief Executive Officer of MGM MIRAGE. “This ranking
reflects our company’s sound business practices, long-term financial
viability, and the quality and commitment of our 40,000 employees.”

To identify “America’s Most Admired Companies” for 2004, Fortune and its
survey partner, the Hay Group, asked 10,000 executives, directors and
securities analysts to select the 10 largest companies they admire most in
their industry, based on eight criteria. Criteria included: innovation,
financial soundness, employee talent, quality of management, use of
corporate assets, long-term investment, social responsibility, and quality
of products/services.

In a 2003 survey, Fortune Magazine named MGM MIRAGE one of “America’s 50
Best Companies For Minorities.”



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