Tracinda Issues Statement Regarding MGM MIRAGE

Posted on: Tue, 20 Oct 2009 08:20:00 EDT


Symbols: MGM
BEVERLY HILLS, Calif., Oct 20, 2009 (BUSINESS WIRE) --
MGM | Quote | Chart | News | PowerRating -- Tracinda Corporation announced today that it is exploring the
possibility of strategic partnerships or other alternatives with respect
to its investment in MGM MIRAGE (NYSE: MGM). Tracinda stated it would
not engage in any such transaction until after CityCenter, the 67-acre
city within a city on the Las Vegas Strip which is fifty percent owned
by MGM MIRAGE, has successfully opened on December 16, 2009.

Tracinda believes there is substantial unrecognized value in MGM MIRAGE
and CityCenter that is not reflected in the market value of MGM MIRAGE's
stock. Tracinda may decide not to pursue strategic partnerships or other
alternatives, and may not ultimately enter into any such transactions.

SOURCE: Tracinda Corporation


Abernathy MacGregor Group
Tom Johnson / Winnie Lerner
212-371-5999

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