OTHER NEWS - July 14, 1995

MGM Grand’s Chairman Resigns: After joining the Las Vegas company in January, 1991--with plans to serve until the company’s 5,005-room Las Vegas hotel, casino and theme park was built and a permanent operating management was put in place--Robert Maxey, 51, has resigned. He is succeeded in his position as president and chief executive by J. Terrence Lanni, 51. Alex Yemenidjian, 39, MGM Grand Inc.’s chief operating and chief financial officer, will add the president’s post to his other duties. “My commitment was for five years to get this project up and running,” Maxey said.