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AMEX OPENS OPTIONS TRADING ON MGM GRAND

 AMEX OPENS OPTIONS TRADING ON MGM GRAND
 NEW YORK, Sept. 21 /PRNewswire/ -- The American Stock Exchange today


opened put and call options trading on the listed stock of MGM Grand, Inc. (ticker symbol: "MGG").
 Headquartered in Las Vegas, Nev. MGM Grand, a longtime owner of several hotels and casinos, is building a new $875 million hotel, casino and theme park complex in Las Vegas. The project will include over 5,000 hotel rooms, a 170,000 sq. ft. casino and a theme park with movie- related attractions. The company also owns and operates MGM Grand Air, a small commercial airline which was expanded in 1990.
 MGG opened with strike prices of 15, 17-1/2 and 20 and position limits of 3,000 contracts. Initial expiration months are October, November and December of 1992 and March of 1993. John J. Mann & Co. is the specialist unit for the new options.
 The Amex trades a total of 291 stock options, including 79 options on over-the-counter stocks, as well as 33 LEAPS(TM) (Long-term Equity AnticiPation Securities). In addition, options are traded on five broad-market indexes-- the Major Market Index (XMI), the XMI LEAPS(TM) Index (XLT), the S&P MidCap 400 Index (MID), the Institutional Index (XII), and the Japan Index (JPN) -- as well as three industry based indexes -- The Oil Index (XOI), the Computer Technology Index (XCI) and the Pharmaceutical Index (DRG). CAPS -- Capped Options -- are also traded on XII.
 -0- 9/21/92
 /CONTACT: Kathleen Fitzpatrick, manager-derivative securities communications of the American Stock Exchange, 212-306-1697/
 (MGG) CO: MGM Grand, Inc. ST: Nevada IN: CNO LEI SU:


TS -- NY033 -- 1575 09/21/92 10:25 EDT
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Date:Sep 21, 1992
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