MGM Grand, Inc. To Operate As MGM MIRAGE

MGM Grand, Inc. (NYSE: MGG) today
announced that it will begin to operate under the new name MGM MIRAGE to
reflect its recent acquisition of Mirage Resorts, Inc.  The name will be
presented for formal approval at a previously scheduled August 1 shareholder
meeting.  The company`s ticker symbol, MGG, remains the same.

“This new name takes full advantage of two of the most powerful brands in
the gaming and entertainment industry,” said Terry Lanni, Chairman of the
Board of MGM MIRAGE.  “MGM MIRAGE leads the industry with a family of assets
and brand identities that is second to none.”

MGM MIRAGE brands include Bellagio, The Mansion at MGM Grand, The Mirage,
Treasure Island, MGM Grand Casino Hotel - The City of Entertainment, New York
New York, the Resorts at Primm Valley and the Golden Nugget.

“The ability to offer customers an unrivaled range of experiences in
restaurants, shows, hotels, shopping and gaming from such a spectacular
selection of leading brands will give us an edge in this highly competitive
industry for years to come,” said Mr. Lanni.