Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MURREN JAMES
   2. Issuer Name and Ticker or Trading Symbol
MGM MIRAGE [MGM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
PRESIDENT & COO
(Last)
(First)
(Middle)
3600 LAS VEGAS BLVD. SOUTH		 3. Date of Earliest Transaction (Month/Day/Year)
03/04/2008
(Street)

LAS VEGAS, NV 89109		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock $.01 Par Value ND 03/04/2008 03/04/2008 M   150,000 A $ 6.6563 150,000 D  
Common Stock $.01 Par Value ND 03/04/2008 03/04/2008 G(1)   150,000 D $ 0 0 D  
Common Stock $.01 Par Value ND               45,324 I GRAT Heather Murren serves as Trustee
Common Stock $.01 Par Value ND               45,324 I GRAT James Murren serves as Trustee
Common Stock $.01 Par Value ND 03/04/2008 03/04/2008 G(1)   150,000 A $ 0 154,676 I Murren Family Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Emp Stk Option (Right to Buy) $ 6.6563 03/04/2008 03/04/2008 M     150,000 06/22/1999 06/22/2008 Common Stock $.01 Par Value ND 150,000 $ 0 0 (2) D  
Emp Stk Option (Right to Buy) $ 11.9375             12/13/2000 12/13/2009 Common Stock $.01 Par Value ND 500,000   500,000 (2) D  
Emp Stk Option (Right to Buy) $ 12.74             02/27/2004 02/27/2013 Common Stock $.01 Par Value ND 1,000,000   1,000,000 (3) D  
Emp Stk Option (Right to Buy) $ 16.25             05/31/2001 05/31/2010 Common Stock $.01 Par Value ND 300,000   300,000 (4) D  
Emp Stk Option (Right to Buy) $ 34.05             05/03/2006 05/03/2012 Common Stock $.01 Par Value ND 600,000   600,000 D  
Emp Stk Option (Right to Buy) $ 34.36             05/10/2006 05/10/2012 Common Stock $.01 Par Value ND 100,000   100,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MURREN JAMES
3600 LAS VEGAS BLVD. SOUTH
LAS VEGAS, NV 89109		   X     PRESIDENT & COO  

Signatures

 Bryan L. Wright, Attorney-In-Fact   03/05/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These shares were acquired by the reporting person through a cash exercise of stock options and were gifted by the reporting person to the Murren Family Trust, of which the reporting person serves as a co-trustee.
(2) Options granted under MGM MIRAGE 1997 Nonqualified Stock Option Plan. Vesting plan calls for options to become exercisable in equal 20% yearly amounts commencing on the first anniversary of the grant date.
(3) Options granted under MGM MIRAGE Employee Stock Option Plan. Vesting plan calls for options to become exercisable in equal 20% yearly amounts over a period of five years commencing on 2/27/04.
(4) Options granted under MGM MIRAGE 1997 Nonqualified Stock Option Plan. Vesting plan calls for options to become exercisable in equal 25% yearly amounts commencing on the first anniversary of the grant date.

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