David Totaro Named Senior Vice President of Marketing for Caesars World Inc.

LAS VEGAS--(BUSINESS WIRE)--Aug. 24, 1999--

David J. Totaro, a builder of well-known brands in several industries, has joined Caesars World Inc. as senior vice president of Marketing, announced Peter G. Boynton, chairman and chief executive officer.

Totaro, who was formerly executive vice president and chief marketing officer at Dime Bancorp, the nation's fourth largest savings institution, is responsible for all marketing and advertising programs, including the management of the Caesars brand worldwide. He reports directly to Boynton in this new position.

"Our brand is our most important asset," said Boynton. "And, although the Caesars brand enjoys the highest level of consumer awareness, our landscape in the hospitality and gaming industry is changing daily. We are fortunate to have attracted someone with David's vast experience in building brands to lead us to even higher levels of recognition."

Totaro, 52, began his career in the cosmetic and beauty industry with Avon Products Inc. Later, he joined the Whitehall Laboratory Division of American Home Products Inc. as director of marketing, where he introduced Advil, the world's leading ibuprofen analgesic product.

Joining Caesars World from the financial services industry, Totaro managed several of Chase Bank's (formerly Chemical Bank) best-known consumer brands, such as ChemPlus, before joining Dime. At Dime, Totaro managed a marketing program that resulted in tripling of consumer awareness levels and doubling of the bank's core equity.

Totaro, who has relocated to Las Vegas from New York, has a bachelor of arts degree from Dickinson College in Carlisle, Penn., and a master's degree in business administration, with a specialty in marketing, from the Wharton School at the University of Pennsylvania.

He is actively involved in many charitable and not-for-profit organizations and serves on the boards of the Cystic Fibrosis Foundation, the American Red Cross, Youth Education Through Sports, and Studio-In-A-School.

Caesars World, one of the best-known and most-recognizable names in the hospitality and gaming industry, is the parent company for Caesars Palace in Las Vegas and other Caesars properties in Atlantic City, N.J., and in Lake Tahoe, Nev.

It also operates the Sheraton Casino and Hotel in Tunica County, Miss., and the Glory of Rome, the world's largest riverboat casino, in Harrison County, Ind., and manages properties in Canada, South Africa and the Philippines.

Park Place Entertainment (NYSE:PPE) has entered into a definitive agreement to purchase Caesars World from Starwood Hotels and Resorts Worldwide (NYSE:HOT). This transaction is expected to conclude in the fourth quarter of 1999.

NOTE TO EDITORS: Photo available upon request.