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IACOCCA NOMINATED MGM GRAND BOARD

 LAS VEGAS, April 5 /PRNewswire/ -- MGM Grand, Inc. (NYSE: MGG) today announced that it has nominated Lee A. Iacocca, 68, and E. Parry Thomas, 71, to its Board of Directors.
 Mr. Iacocca is the former Chairman and Chief Executive Officer of Chrysler Corporation. He has served as a Director of that company since 1978, was its President from November 1978 to September 1979 and its Chairman from September 1979 until his retirement in December 1992. Mr. Iacocca is currently Chairman Emeritus of the Statue of Liberty/Ellis Island Foundation; Chairman of the Committee for Corporate Support for the Joslin Diabetes Foundation; and founder and Chairman of the Advisory Board to the Iacocca Institute at Lehigh University.
 Mr. Thomas, a consultant to the Bank of America (B of A), is the former Chairman and Chief Executive Officer of Valley Capital Corp., the parent company of Valley Bank of Nevada, the prime lending institution to the casino industry in Las Vegas for many years. Mr. Thomas served as Chief Executive Officer of Valley Capital Corp., and its predecessor companies from 1955 until the companies were merged into B of A on March 15, 1992. As a result of that transaction, he became one of the largest shareholders of B of A. Mr. Thomas currently serves as a Director of the University of Nevada, Las Vegas, Foundation and the Nevada Gaming Foundation for Education.
 Shareholders of MGM Grand will vote on the election of Mr. Iacocca and Mr. Thomas to MGM Grand's Board at the company's annual meeting on May 12, 1993.
 "We are extremely pleased that two individuals with the reputation and stature of Lee Iacocca and Parry Thomas have agreed to serve on our board," said Bob Maxey, Chairman and Chief Executive Officer of MGM Grand. "Both Lee and Parry will go down in history as key figures in 20th Century American business. We are proud that they have recognized the significance of what we are doing at MGM Grand and are confident that their knowledge and business acumen will help better position our company for future growth."
 Mr. Maxey said that while he expects that the contributions of both executives will span the spectrum of business activities, he believes Iacocca's legendary marketing expertise and Thomas' in-depth knowledge of the industry will prove invaluable in the launching of the company's Las Vegas mega-resort early next year.
 Mr. Maxey said that the election of Messrs. Iacocca and Thomas will also shift the balance of the company's board more heavily to independent directors, consistent with emerging regulatory emphasis.
 "It has become clear that the S.E.C. feels that it is desirous for public companies to have strong outside director representation," he said. "We look forward to shareholder approval of the nominations of Mr. Iacocca and Mr. Thomas and their subsequent active participation on our Board."
 MGM Grand is an entertainment, hotel and travel company with headquarters in Las Vegas. The company owns MGM Grand Air and MGM Grand Hotel, which is constructing the new hotel and theme park that will include 5,000 rooms, a 170,000-square-foot casino, a 15,000-seat special events arena, and a 33-acre theme park with 12 major attractions.
 -0- 4/5/93
 /CONTACT: Michael Sitrick or Michael Kolbenschlag of Sitrick And Company, 310-788-2850/
 (MGG)


CO: MGM Grand Inc. ST: Nevada IN: LEI SU: PER

BP-MS -- LA033 -- 3194 04/05/93 16:55 EDT
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Date:Apr 5, 1993
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