LAS VEGAS, Feb. 5 /PRNewswire-FirstCall/—MGM MIRAGE (NYSE: MGG) today
announced that its Board of Directors has approved a stock repurchase program
authorizing the Company to purchase up to 10,000,000 shares of the Company`s
common stock.  The purchases will be made from time to time in the open market
or through privately negotiated third party transactions depending on market
conditions.

MGM MIRAGE is one of the world`s leading and most respected entertainment,
hotel and gaming companies that owns and operates 15 casino properties located
in Nevada, Mississippi and Michigan.  The company is headquartered in Las
Vegas, Nevada and offers an unmatched collection of resort-casinos with a
limitless range of choices for guests.  Guest satisfaction is paramount, and
the company has approximately 43,000 employees committed to that result.  Its
portfolio of brands include two-time AAA Five Diamond award-winner Bellagio,
the MGM Grand Hotel and Casino - The City of Entertainment, The Mirage,
Treasure Island, New York - New York Hotel and Casino, the Boardwalk Hotel and
Casino and 50 percent of Monte Carlo, all located on the Las Vegas Strip; the
Golden Nugget in Downtown Las Vegas; Whiskey Pete`s, Buffalo Bill`s, the Primm
Valley Resort and two championship golf courses at the California/Nevada state
line; the exclusive Shadow Creek golf course in North Las Vegas; the Golden
Nugget in Laughlin, Nevada; the Beau Rivage resort on the Mississippi Gulf
Coast; and the MGM Grand Detroit Casino in Detroit, Michigan.  The Company is
also a joint venture partner in Borgata at Renaissance Pointe, a $1 billion
destination resort-casino under development in Atlantic City, New Jersey.
Borgata is scheduled to open summer 2003.  Internationally, MGM MIRAGE owns
and operates the MGM Grand Hotel and Casino in Darwin, Australia.  For more
information about MGM MIRAGE, please visit the company`s website at
http://www.mgmmirage.com .

Statements in this release which are not historical facts are “forward
looking” statements and “safe harbor statements” under the Private Securities
Litigation Reform Act of 1995 that involve risks and/or uncertainties,
including risks and/or uncertainties as described in the company`s public
filings with the Securities and Exchange Commission.

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