MGM MIRAGE Board Approves Repurchase

PRNewswire-FirstCall LAS VEGAS Nov. 12 :

MGM MIRAGE today announced that its Board of Directors has approved a new
stock repurchase program authorizing the Company to purchase up to
10,000,000 shares of Company 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.

The Company additionally announced that it has repurchased approximately 4
million shares during the current quarter thereby completing the stock
repurchase program approved in February 2003.

MGM MIRAGE , one of the world`s leading and most respected hotel and
gaming companies, owns and operates 14 casino resorts located in Nevada,
Mississippi, Michigan and Australia, and has investments in two other
casino resorts in Nevada and New Jersey. The company is headquartered in
Las Vegas, Nevada, and offers an unmatched collection of casino resorts
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 AAA Five Diamond award-winner
Bellagio, MGM Grand Las Vegas - The City of Entertainment, The Mirage,
Treasure Island, New York - New York, Boardwalk Hotel and Casino and 50
percent of Monte Carlo, all located on the Las Vegas Strip; Whiskey
Pete`s, Buffalo Bill`s, Primm Valley Resort and two championship golf
courses at the California/Nevada state line; the exclusive Shadow Creek
golf course in North Las Vegas; Beau Rivage on the Mississippi Gulf Coast;
and MGM Grand Detroit Casino in Detroit, Michigan. The Company has entered
an agreement to sell Golden Nugget Las Vegas and Golden Nugget Laughlin
pending finalization. The Company is also a 50-percent owner of Borgata, a
destination casino resort at Renaissance Pointe in Atlantic City, New
Jersey. Internationally, MGM MIRAGE owns and operates MGM Grand Australia
in Darwin, Australia, and holds a 25 percent interest in casino developer
Metro Casinos Limited of Great Britain. 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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