Kerkorian's Tracinda in Talks with MGM MIRAGE (MGM) to purchase the Bellagio, City Center; Also To Pursue Strategic Aternative Related to MGM

In an amended 13D filing on MGM Mirage (NYSE: MGM), Kirk Kerkorian's Tracinda Corp, a 56% holder, announced that it intends to enter into negotiations with MGM MIRAGE to purchase the Bellagio Hotel and Casino and City Center properties.

Tracinda also wishes to pursue strategic alternatives with respect to its investment in MGM MIRAGE which may include financial restructuring transactions involving all or a substantial portion of the remainder of the Company. Tracinda has made no decision with respect to any such restructuring transactions and reserves the right not to engage in or approve any transaction.