BancBoston Robertson Stephens Comments on Market Performer Rated MIR.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 24, 1999--

BancBoston Robertson Stephens senior gaming and lodging analyst Harry C. Curtis today commented on Market Performer rated Mirage Resorts (NYSE:MIR).

Mirage Resorts, headquartered in Las Vegas, Nev., is a leading developer and operator of upscale domestic casino resorts.

"After recent conversations with Mirage management, we believe that third quarter 1999 earnings-per-share consensus of $0.17 does not appear to be a foregone conclusion," said Curtis. "We maintain our $0.16 earnings-per-share estimate, slightly below the $0.17 consensus."

"We believe there is no substance to recent concerns that either MGM Grand or Park Place Entertainment is interested in acquiring Mirage, and that Kirk Kerkorian's recent purchase of Mirage shares is for investment purposes only," said Curtis.

"We continue to believe that fair value of Mirage shares is approximately $16," said Curtis. "At current levels, we believe upside is limited and we maintain our Market Performer rating."

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