Harrah's Receives Acquisition Proposal

. October 14, 2008

LAS VEAGS, NV, October 2, 2006. Harrah's Entertainment, Inc. (NYSE:HET) today confirmed that its Board of Directors has received a proposal from Apollo Management and Texas Pacific Group to acquire all of the Company's outstanding common stock for $81.00 per share in cash.

The Harrah's Board of Directors has established a Special Committee consisting of all non-management directors to review the proposal. The Special Committee has retained UBS Securities LLC as its financial advisor and Kaye Scholer LLP as its legal advisor to assist the Special Committee. The Special Committee has not determined that a transaction is in the best interests of Harrah's and its stockholders or that Harrah's should not continue as an independent public company pursuing its business plan as the world's largest provider of branded casino entertainment. Accordingly, there is no assurance that Harrah's will enter into this or any other transaction.

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Architecture & Design: Biophilic Design

The hospitality industry is constantly evolving to meet and exceed guest expectations. As a result, hotels are always on the lookout for new ways to improve the guest experience, and architecture and design is an essential part of this equation. Bold design is often the most effective way to make an exceptional first impression - an impression guests use to distinguish between brands. One design trend that is being embraced worldwide has become known as “Biophilic Design.” Biophilic design is based on the concept of biophilia, which is the theory that human beings have an innate tendency to seek out nature, natural elements, and natural forms. Biophilic design is more than hotels simply adding a surplus of plants; it involves incorporating specific design elements into a hotel in order to imbue it with a sense of wellness and well-being. Some of those elements include exposure to natural lighting; views of nature and rooms with a view; natural architectural patterns; salvaged or reclaimed woods of all types; reclaimed metals; sustainably sourced stone; living green walls and vertical gardens; and direct and indirect exposure to nature. Hotels that have incorporated biophilic design into their properties are reaping the benefits associated with this trend including reduced stress responses, better air quality, lower energy costs, and more positive guest reviews. Biophilic design has also been shown to improve guest moods and to satisfy consumer demand for environmental responsibility. Savvy hotel owners and managers are aware that nature-inspired elements enhance their guests' comfort and well-being, which is why this trend is becoming so prevalent. Biophilic design is just one topic in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.