CIRCUS CIRCUS CLOSES BANK DEAL

LAS VEGAS, Jan. 30 /PRNewswire/ -- Circus Circus Enterprises, Inc., (NYSE: CIR) has closed the largest corporate credit facility ever negotiated by a gaming-only company. The $1.5 billion line of credit is unsecured and carries a five-year term with no reduction in the facility's size during the first four years.

The credit facility will provide ready financing for the Company's expansion plans over the next four years as well as for other corporate purposes. "This transaction demonstrates Circus' competitive strength as a low-cost acquirer of financing," said Glenn Schaeffer, President and CFO of Circus Circus Enterprises, Inc. The Company will continue to apply free cash flow to expansion projects as well. This bank facility replaces Circus' $750 million agreements which were expanded to $900 million when the Company acquired Gold Strike Resorts in 1995. The new facility is being provided by a consortium of 26 U.S. and international banks, with Bank of America as the administrative agent.

Circus has also positioned itself to take advantage of favorable rates in the debt securities markets. The Company filed a shelf registration with the Securities and Exchange Commission (SEC) in December of 1995 for the issuance of up to $400 million in debt securities, which was declared effective on January 11, 1996. Today Circus filed with the SEC a prospectus supplement relating to the issuance of $200 million in senior unsecured debt notes with a maturity of 10 years. Proceeds will be used to reduce most of the Company's outstanding bank borrowings.

Circus has commenced construction on an approximately 2,000-room addition, in two identical towers, at Luxor and a 1,000 room tower at Circus Circus-Las Vegas, with both projects slated for operation before year end 1996. Meanwhile, the 3,014 room Monte Carlo, the company's joint venture with Mirage Resorts, Incorporated (NYSE: MIR), is under construction on the Las Vegas Strip and is scheduled to open before July 1996.

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/NOTE TO EDITORS: Circus Circus press releases are available at no charge through PR Newswire's Company News On-Call fax service and on PR Newswire's Web site. For a menu of Circus Circus press releases or to retrieve a specific release, call 800-758-5804, extension 166193, or http://www.prnewswire.com on the Internet/

/CONTACT: Sarah Ralston of Circus Circus, 702-794-3881/

(CIR MIR)

CO: Circus Circus Enterprises Inc.; Mirage Resorts Incorporated ST: Nevada IN: CNO SU:

EQ-BB -- LATU083 -- 3117 01/30/96 18:47 EST