ASCA A SPAC I Acquisition Corporation

Ameristar Amends Credit Facilities to Reduce Pricing LAS VEGAS, March 2 /PRNewswire-FirstCall/ -- Ameristar Casinos, Inc. today announced that it has amended its senior credit facilities, effective March 1, 2004. The amendment (1) consolidates therevolving term loan facility, term loan A and term loan B, under which $33.5 million, $13.7 million and $286.8 million, respectively, were outstanding immediately prior to the amendment, into a new term loan B-1; (2) reduces the applicable interest rate margin on term loan B-1 to 200 basis points over LIBOR, a reduction of 50 basis points compared to the margin on former term loan B; and (3) permits Ameristar to pay cash dividends on its common stock in a total amount not to exceed $25.0 million. The amendment does not affect the terms of the $75.0 million revolving credit facility, under which $68.5 million is currently available for borrowing. Ameristar was not required to pay a fee to its lenders in connection with the amendment. "We are verypleased that our lenders have recognized the continued improvement in our operating results and financial condition and agreed to reprice our senior credit facilities," said Craig H. Neilsen, President and Chief Executive Officer. "This amendment significantly reduces our existing interest cost and affords us the flexibility to pay cash dividends should we choose to do so." Forward-looking information This press release contains certain forward-looking information that generally can be identified by the context of the statement or the use of forward-looking terminology, such as "believes," "estimates," "anticipates," "intends," "expects," "plans," "is confident that" or words of similar meaning, with reference to Ameristar or our management. Similarly, statements that describe our future plans, objectives, strategies, financial results or position, operational expectations or goals are forward-looking statements. It is possible that our expectations may not be met due to various factors, manyof which are beyond our control, and we therefore cannot give any assurance that such expectations will prove to be correct. For a discussion of relevant factors, risks and uncertainties that could materially affect our future results, attention is directed to "Item 1. Business -- Risk Factors" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2002 and "Item 2. Management's Discussionand Analysis of Financial Condition and Results of Operations" in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2003. About Ameristar Ameristar Casinos, Inc. is a leading Las Vegas-based gaming and entertainment company known for its premier properties characterized by innovative architecture, state-of-the-art casino floors, and superior dining, lodging and entertainment offerings. Ameristar's focus on the total entertainment experience and the highest quality guest servicehas earned it the leading market share position in each of the five markets in which it operates. Founded in 1954 in Jackpot, Nevada, Ameristar recently marked its 10th anniversary as a public company. The company has a portfolio of six casinos: Ameristar Kansas City; Ameristar St. Charles (greater St. Louis); Ameristar Council Bluffs (Omaha, Nebraska and southwestern Iowa); Ameristar Vicksburg (Jackson, Mississippi and Monroe, Louisiana); and Cactus Petes and the Horseshu in Jackpot, Nevada (Idaho and the Pacific Northwest). Visit Ameristar Casinos' Web site at http://www.ameristarcasinos.com/ (which shall not be deemed to be incorporated in or a part of this news release). http://www.newscom.com/cgi-bin/prnh/20010501/AMERISTARLOGO http://photoarchive.ap.org/ DATASOURCE: Ameristar Casinos, Inc. CONTACT: Tom Steinbauer, Senior Vice President of Finance, Chief Financial Officer of Ameristar Casinos, Inc., +1-702-567-7000 Web site: http://www.ameristarcasinos.com/

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