Park Place Announces Senior Notes

Park Place Entertainment Corporation (NYSE: PPE) today announced the pricing of a Rule 144A private placement of $300 million, 7.0 percent senior notes due in 2013. The company will use the net proceeds from this offering to reduce balances outstanding under its bank credit facility. The transaction is expected to close on April 11, 2003.

Park Place Entertainment Corporation (NYSE: PPE) is one of the world`s leading gaming companies. Park Place owns, manages or has an interest in 27 gaming properties operating under the Caesars, Bally`s, Flamingo, Grand Casinos, Hilton and Paris brand names with a total of two million square feet of gaming space, 29,000 hotel rooms and 54,000 employees worldwide.
Additional information on Park Place Entertainment can be accessed through the company`s web site at www.parkplace.com .

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