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It should stand for something like: Lock Geo Redirect and Goto Site.
It looks like MSN is working on geotargeting. When I got to MSN search today, I notice that I was redirected to [search.arabia.msn.com...] instead of [search.msn.com...] - The results for them are quite different to certain degrees.
This Beta is very poor because I am NOT in Arabia but MSN thought my IP was there...Quite funny.