AGY Argosy Gaming

Argosy Gaming Company Announces Results and Expiration of Consent Solicitation ALTON, Ill., Feb. 11 /PRNewswire-FirstCall/ -- Argosy Gaming Company announced today that, as of 5:00 p.m., New York City time, on February 11, 2004 (the "Early Tender Date"), it had received tenders and related consents from holders of approximately 94% of its outstanding 10-3/4% Senior Subordinated Notes due 2009 (the "Notes") pursuant to its Offer to Purchase and Consent Solicitation dated as of January 30, 2004. The Company has received consents necessary to approve the proposed amendments to the indenture under which the Notes were issued and has accepted all Notes validly tendered prior to the Early Tender Date. Pursuant to its terms, the tender offer will remain open to holders not participating in the consent solicitation until 11:59 p.m., New York City time, on Friday, February 27, 2004, unless extended (the "Expiration Date"). All conditions to the tender offer have been satisfied, including the successful pricing on February 5, 2004 of the Company's $350 million 7% Senior Subordinated Notes due 2014. The total consideration to be paid for properly delivered consents and for each $1,000 principal amount of Notes validly tendered and accepted for payment is a price equal to $1,081.53 per $1,000 principal amount of Notes, plus accrued interest. This includes a consent payment of $35.00 per $1,000 principal amount of Notes to holders that validly tendered their Notes prior to the Early Tender Date. Holders that validly tender their Notes after the Early Tender Date and prior to the Expiration Date will receive the total consideration less the consent payment, or $1,046.53 per $1,000 principal amount of Notes, plus accrued interest. In connectionwith the consent solicitation, the Company intends to promptly enter a supplemental indenture to implement the proposed amendments to the Notes indenture. For additional information, please contact any of: Morgan Stanley (at 800-624-1808) the Dealer Manager for the tender offer, or MacKenzie Partners, Inc., the Information Agent (banks and brokers, call collect, 212-929-5500; all others call toll free, 800-322-2885). Argosy Gaming Company is a leading owner and operator of six casinos located in the central United States. Argosy owns and operates the Alton Belle Casino in Alton, Illinois, serving the St. Louis metropolitan market; the Argosy Casino- Riverside in Missouri, serving the greater Kansas City metropolitan market; the Argosy Casino-Baton Rouge in Louisiana; the Argosy Casino-Sioux City in Iowa; the Argosy Casino-Lawrenceburg in Indiana, serving the Cincinnati and Dayton metropolitan markets; and the Empress Casino Joliet in Illinois serving the greater Chicagoland market. DATASOURCE: Argosy Gaming Company CONTACT: Jeanne Carr of MacKenzie Partners, Inc., +1-800-322-2885, for Argosy Gaming Company Web site: http://www.argosycasinos.com/

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