I'm sorry, I don't remember which zoo it was, but definately one of the big names. I also don't know if they had other Pandas already.
I do agree that it is in the interest of preserving the Panda species to run breeding programs. However, the enormous sum of 1 mio per year only for renting one makes it smell much like a money making scheme rather than a serious preservation effort. If zoos make the effort (and I´m sure thats not cheap as well) to provide a adequate habitat for the Pandas and participate in the breeding project, that should be enough to receive a Panda. At the end of the day, its the Chinese's fault that the Panda is endangered in the first place.
Its like when you are drowning, and someone comes to pull you out of the water, you say he has to pay you $100 first.