MGM MIRAGE and New Giza for Real Estate Development Company Announce Agreement to Include MGM Grand Resort at Development Outside Cairo Near Egypt’s Famous Pyramids

MGM MIRAGE (NYSE:MGM) and New Giza for Real Estate Development – an Egyptian company building a luxury, mixed-use community near the base of the famous pyramids – today announced plans to develop the MGM Grand New Giza. All equity funding for the development will be provided by New Giza for Real Estate Development. MGM MIRAGE will provide management services and brand fees through MGM MIRAGE Hospitality.