10:30     MELCO INT'L DEV<00200> - Announcement (4)                           

    Shareholders should read the Circular, together with                      
    this announcement, carefully and in particular the                        
    letter of advice from the Independent Financial                           
    Adviser to the Independent Board Committee and the                        
    recommendation of the Independent Board Committee to                      
    the Independent Shareholders before voting on the                         
    relevant resolution(s) to be proposed at the EGM.                         
                                                                              
    As at the date of this announcement, the Board                            
    comprises three executive Directors, namely, Dr.                          
    Stanley Ho (Chairman), Mr. Lawrence Ho (Managing                          
    Director) and Mr. Frank Tsui; two non-executive                           
    Directors, namely, Mr. Ho Cheuk Yuet and Mr. Ng Ching                     
    Wo; and three Independent non-executive Directors,                        
    namely, Sir Roger Lobo, Mr. Robert Kwan and Dr. Lo Ka                     
    Shui.                                                                     
                                                                              
    By order of the board of                                                  
    Melco International Development Limited                                   
    Samuel Tsang                                                              
    Company Secretary                                                         
                                                                              
    Hong Kong, 6 January 2005