MGM MIRAGE Announces Sale Of South Africa Operations

8th Nov 2001

MGM MIRAGE (NYSE: MGG) announced that it
has entered into an agreement with Tsogo Investment Holding Company
(Proprietary) Limited and Southern Sun Gaming Investments (Proprietary)
Limited to sell its operations in the Republic of South Africa, where MGM
MIRAGE manages, but does not own, four casinos.  The transaction, which is
subject to the approval of various gaming authorities in the Republic of South
Africa and the Exchange Control Department of the South Africa Reserve Bank,
is expected to be completed in the first quarter of 2002.
  Jim Murren, MGM MIRAGE`s President and Chief Financial Officer, said: “Our
South African operations have been an extremely successful but small part of
our business.  We intend to use the sale proceeds to reduce debt.  The sale
will enable us to focus more closely on our core businesses and larger
expansion opportunities.”




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