MGM MIRAGE Signs Agreement With Diaoyutai State Guesthouse for Joint Projects in China

MGM MIRAGE Signs Agreement With Diaoyutai State Guesthouse for Joint Projects in China

April 03, 2007

    LAS VEGAS, April 3 /Xinhua-PRNewswire/ -- MGM MIRAGE
(NYSE: MGM) announced today that it has signed a definitive
agreement with the Diaoyutai State Guesthouse in Beijing,
People's Republic of China aimed at creating a strategic
relationship to pursue non-gaming business opportunities.

    The parties intend to create a joint venture to develop
luxury non-gaming hotels and resorts globally, initially
targeting locations in the People's Republic of China. 

    The expectation is that the joint venture will develop
its own distinctive brand identity, associating "MGM
Grand" with "Diaoyutai" to create unique
luxury hotel resorts and related facilities. 

    Feng, Shusen, Director General of the China Diaoyutai
State Guesthouse, said: "The signing of our agreement
with MGM MIRAGE marks the beginning of a strong
partnership.  Together, we will develop luxury non-gaming
hotels and resorts, using the strength of our brands and
our dedication to providing the finest in hospitality and
service."

    Terry Lanni, Chairman and Chief Executive Officer of
MGM MIRAGE, said:  "We are pleased to have reached a
definitive agreement with the Diaoyutai State Guesthouse,
an institution which has a unique role in the People's
Republic of China.  The `Diaoyutai' brand is
world-renowned.  We believe that the association of `MGM
Grand' and `Diaoyutai' will provide significant
opportunities to build on the strengths of our two
organizations and to expand our brand identity in rapidly
growing international markets.  We and our partners at
Diaoyutai State Guesthouse are actively reviewing possible
initial projects."  

    MGM MIRAGE (NYSE: MGM), one of the world's leading and
most respected hotel and gaming companies, owns and
operates 22 properties located in Nevada, Mississippi and
Michigan, and has investments in three other properties in
Nevada, New Jersey and Illinois.  The Company has entered
into agreements to sell its three Primm Valley Resort
properties located in Primm, Nevada and its Colorado Belle
and Edgewater properties located in Laughlin, Nevada. In
addition, the Company has major new developments under
construction in Nevada, Michigan and Macau S.A.R.
CityCenter is a multi-billion dollar mixed-use urban
development in the heart of the Las Vegas Strip; a new MGM
Grand hotel and casino complex is being built in downtown
Detroit; and the Company has a 50% interest in MGM Grand
Macau, a hotel-casino resort currently under construction
in Macau S.A.R.  MGM MIRAGE supports responsible gaming and
has implemented the American Gaming Association's Code of
Conduct for Responsible Gaming at its properties.  MGM
MIRAGE also has been the recipient of numerous awards and
recognitions for its industry-leading Diversity Initiative
and its community philanthropy programs.  For more
information about MGM MIRAGE, please visit the company's
website at http://www.mgmmirage.com .

    China Diaoyutai State Guesthouse, located in the
ancient Fishing Terrace complex in Beijing, is a venue for
important diplomatic activities of the leaders of China. 
As the state guesthouse accommodating visiting Heads of
State and government, senior government officials and
celebrities, it has received more than 1000 Heads of State
and government since its inauguration nearly 50 years ago. 
Diaoyutai is an important site of major intergovernmental
conferences, and is world recognized for its facilities and
service.

    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.


    For more information, please contact:

    Investors
     James J. Murren, President
     Chief Financial Officer & Treasurer
     Tel:   [phone]

    Media
     Alan M. Feldman, Senior Vice President, 
     Public Affairs
     Tel:   [phone]