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Melco Becomes the Single Largest Shareholder of Melco Crown Entertainment

le Largest Shareholder of Melco Crown Entertainment

Further bolstering the Group's financial position through incorporation of
MCE's full financial contributions

HONG KONG, 2016-05-04 14:36 CEST (GLOBE NEWSWIRE) -- Melco International
Development Limited (“Melco” or the “Group”) (HKEx Code:200), a world leader in
the leisure and entertainment sector, today announced that Melco Crown
Entertainment (“MCE”), an associate of the Group which develops, owns and
operates casino gaming and entertainment casino resort facilities in Asia, has
entered into a share repurchase agreement (“Share Repurchase”) with Crown Asia
Investments Pty. Ltd. (“CAI”), a wholly-owned subsidiary of Crown Resorts
Limited, pursuant to which MCE agreed to repurchase 155,000,000 ordinary shares
(equivalent to 51,666,666 ADS) from CAI. The aggregate purchase price for the
Share Repurchase is US$800,838,500 (equivalent to approximately
HK$6,206,498,000), representing a per share price of US$5.1667 (equivalent to
approximately HK$40.04) (or US$15.50 (equivalent to approximately HK$120.13)
per ADS).

Immediately following closing of the Share Repurchase, the equity interests of
Melco and public shareholders in MCE will be increased to approximately 37.9%
and 34.7% respectively, while CAI’s equity interest in MCE will be reduced from
34.3% to approximately 27.4%. Accordingly, Melco will become the single largest
shareholder of MCE, which will fully bolster the Group’s financial position by
incorporating MCE’s full financial contributions. Mr. Lawrence Ho will be
re-designated as Chairman, and will continue to be the executive director and
Chief Executive Officer of MCE.

Mr. Lawrence Ho, Group Chairman and CEO of Melco, said: “This is a tremendous
milestone for Melco. The transaction will meaningfully strengthen Melco’s
financial position through incorporating MCE’s full financial contributions
into the Group’s portfolio as an accounting subsidiary. It demonstrates Melco’s
positive outlook for Macau’s long term future. It will also enhance the Group’s
overall portfolio of high-quality assets and facilitate our efforts in
realizing Melco’s global expansion vision.”

In mid-March this year, Melco, together with other members of a multinational
consortium (Hard Rock International and Cyprus Phasouri (Zakaki) Limited), has
been shortlisted to the next phase of the casino tender process in the Republic
of Cyprus. With unique experience in creating the most spectacular integrated
resorts in Asia, Melco is looking forward to continue exploring the emerging
gaming jurisdiction and collaborating with the Cyprus Government for what it
considers to be in the best interest of Cyprus.

The Cyprus premium integrated resort project, along with the Group’s latest
business development in Spain, showcase Melco’s focus on further strengthening
the Group’s presence in overseas markets to build a sustainable growth company.

Melco – Entertaining Possibilities. Achieving Growth.

About Melco International Development Limited
Founded in 1910 and listed on the Hong Kong Stock Exchange in 1927, Melco was
among the first one hundred companies established in the city. Today, under the
leadership of its Chairman and Chief Executive Officer, Mr. Lawrence Ho, Melco
is a dynamic New Generation Asian leisure and entertainment company focused on
Gaming and Macau. Its promising performance and distinctive leadership in the
industry are also well recognized worldwide. Melco has been honoured with the
“Corporate Governance Asia Annual Recognition Award” by Corporate Governance
Asia magazine for the tenth year in 2015. It is also the first entertainment
company to receive the “Hong Kong Corporate Governance Excellence Awards” by
the Chamber of Hong Kong Listed Companies and the Centre for Corporate
Governance and Financial Policy of the Hong Kong Baptist University. For more
information about Melco, please visit

Media Enquiries
Melco International Development Limited
Maggie Ma Tel: (852) 3151 3767 Email:
Fax: (852) 3162 8375

Strategic Financial Relations Limited
Mandy Go Tel: (852) 2864 4812 Email:
Angela Ng Tel: (852) 2864 4855 Email:
Fax: (852) 2527 1196

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