MGM Mirage Announces Exchange Offer Relating to its 8.50% Senior Notes Due 2010

    --  The exchange offer will expire at 11:59 p.m., New York City time, on        September 24, 2009, unless extended by us.    --  For each $1,000 principal amount of Existing Notes validly tendered and        accepted, the holder will receive $1,175 principal amount of New Notes,        of which $50 in principal amount of New Notes constitutes an early        participation payment that will be paid only with respect to Existing        Notes validly tendered and not validly withdrawn prior to 5:00 p.m., New        York City time, on September 10, 2009 (the "Early Participation        Date").    --  Holders who validly tender after the Early Participation Date will not        receive the early participation payment.    --  Tenders of Existing Notes in the exchange offer may be validly withdrawn        at any time at or prior to 5:00 p.m., New York City time, on September        10, 2009.  Existing Notes tendered after 5:00 p.m., New York City time,        on September 10, 2009 may not be withdrawn, except where additional        withdrawal rights are required by law.    --  If the exchange offer is oversubscribed, Existing Notes validly tendered        and not validly withdrawn will be subject to proration, with priority of        acceptance given to Existing Notes tendered on or prior to the Early        Participation Date.    --  Subject to proration and the terms and conditions of the exchange offer,        promptly following the Early Participation Date, the Company will        promptly accept, and issue New Notes in exchange for, the Existing Notes        validly tendered and not validly withdrawn on or prior to the Early        Participation Date.    --  With respect to Existing Notes validly tendered and accepted in the        exchange offer, the Company will pay accrued and unpaid interest on such        Existing Notes from the last applicable interest payment date up to but        excluding the applicable settlement date.    --  The New Notes will mature on September 15, 2016 and will bear interest        at a rate of 10.00% per annum.    --  The New Notes will be general senior unsecured obligations of the        Company, guaranteed by substantially all of the Company's        subsidiaries, which also guarantee the Company's other senior        indebtedness, and equal in right of payment with, or senior to, all        existing or future indebtedness of the Company and each guarantor.    --  The Company will not receive any cash proceeds from the exchange offer.