MGM Resorts International (MGM)

[Teamlasvegas]

This Is Old, Feb 15, 2008
A C/P 4 Me.

MGM MIRAGE and Infinity World (Cayman) L.P. Announce Updated Preliminary
Results of Their Joint Tender Offer

LAS VEGAS, Feb. 15 /PRNewswire-FirstCall/ -- MGM MIRAGE (NYSE: MGM) and
Infinity World (Cayman) L.P., an indirect wholly owned subsidiary of Dubai
World, announced today updated preliminary results of their joint tender
offer, which expired at 12:00 midnight, New York City time, on February 14,
2008.
Subsequent to the announcement earlier today of the preliminary results of
the joint tender offer, Mellon Investor Services LLC, the depositary for the
joint tender offer, advised MGM MIRAGE and Infinity World (Cayman) L.P. that
it had failed to include in its final report of the preliminary results of the
joint tender offer an additional 7,467,169 shares tendered through Notices of
Guaranteed Delivery.
Based on the updated preliminary count, subject to final verification and
conditional tenders, approximately 109,373,891 shares of MGM MIRAGE's common
stock were tendered, including approximately 26,693,134 shares which were
tendered through Notices of Guaranteed Delivery, resulting in an updated
estimated proration factor of approximately 13.7% instead of 14.7%. Any
shares tendered upon the condition of a minimum number of shares being
purchased in the joint tender offer will be deemed withdrawn in the event that
such condition is not satisfied as a result of proration.
The number of shares tendered and not withdrawn and the proration factor
are preliminary and are subject to verification. The actual number of shares
validly tendered and not withdrawn and the final proration factor will be
announced promptly following completion of the verification process. Promptly
after such announcement, the depositary will issue payment for the shares
validly tendered and accepted under the joint tender offer and will return all
other shares tendered.
About MGM MIRAGE
MGM MIRAGE (NYSE: MGM), one of the world's leading and most respected
development companies with significant holdings in gaming, hospitality and
entertainment, owns and operates 17 properties located in Nevada, Mississippi
and Michigan, and has 50% investments in four other properties in Nevada, New
Jersey, Illinois and Macau. MGM MIRAGE is developing major casino and
non-casino resorts, separately and with partners in Las Vegas, Atlantic City,
the People's Republic of China and Abu Dhabi, U.A.E. MGM MIRAGE supports
responsible gaming and has implemented the American Gaming Association's Code
of Conduct for Responsible Gaming at its properties. MGM MIRAGE has received
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.
About Dubai World
Dubai World is a major investment holding company which wholly owns or has
substantial interest in a portfolio of businesses that includes DP World,
Jafza, Nakheel, Dubai Drydocks, Maritime City, Istithmar, Kerzner, One & Only,
Atlantis, Barney's, Island Global Yachting, Limitless, Inchcape Shipping
Services, Tejari, Technopark and Tamweel. The Dubai World Group has more than
50,000 employees in over 100 cities around the globe.
Dubai World's iconic real estate projects include the Nakheel's Palm
developments and The World. The group also has extensive real estate
investments in the US, the UK and South Africa, unique hospitality
destinations in every corner of the world, and is a leading global port
operator. In the last five years, Dubai World has developed 80,000 luxury
residential villas and apartments and approximately three million square feet
of retail space.
Forward-Looking Statement
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.
SOURCE MGM MIRAGE

Investment Community, Dan D'Arrigo, EVP & Chief Financial Officer, +1-702-
693-8895; or Media, Alan M. Feldman, Senior Vice President of Public Affairs,
[phone], [e-mail]