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Melco International Development Limited: Melco Becomes the Single Largest Shareholder of Melco Crown Entertainment

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

HONG KONG, May 04, 2016 (GLOBE NEWSWIRE) -- Melco International Development
("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 |


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Melco International Development Limited via Globenewswire


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