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MGM GRAND ANNOUNCES REDUCED CARRYING VALUES ON AIRCRAFT

 LAS VEGAS, Nov. 22 /PRNewswire/ -- MGM Grand Inc. (NYSE: MGG) announced today that its wholly owned subsidiary, MGM Grand Air Inc., has determined to reduce the book value of its aircraft and related equipment. The Company will incur a one-time charge to earnings in the amount of approximately $68 million.
 As a result of this action, the adjusted book value of the six aircraft at MGM Grand Air will more closely approximate the airline's expected recoverable value from such aircraft. MGM Grand Air's operations have improved recently and the Company is hopeful that they will continue to do so.
 -0- 11/22/93
 /CONTACT: Joseph Murphy, 702-891-3330, or K. Eugene Shutler, 702-891-3310/
 (MGG)


CO: MGM Grand Inc.; MGM Grand Air Inc. ST: Nevada IN: LEI AIR SU:

EH-JL -- LA039 -- 7021 11/22/93 18:25 EST
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Publication:PR Newswire
Date:Nov 22, 1993
Words:136
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