10:47     MELCO INT'L DEV<00200> - Announcement & Resumption (8)              

    Financing sources                                                         
    The whole consideration of HK$400 million for the acquisition under       
    the Great Wonders Agreement will be satisfied by Melco                    
    Entertainment in cash with the same financed from the internal            
    resources of the JV Group, namely the capital contribution of             
    US$163 million (equivalent to HK$1,270 million) previously made           
    by PBL Asia.                                                              
                                                                              
    Completion                                                                
    It is contemplated that the completion of the Great Wonders               
    Agreement shall take place simultaneously with the completion of          
    the Third Agreement.                                                      
                                                                              
    Conditions of the Great Wonders Agreement                                 
    The completion of the Great Wonders Agreement is conditional upon         
    the fulfillment of the conditions precedent of the Third Agreement        
    and the completion thereof as mentioned in the paragraph headed           
    "Conditions of the Third Agreement" above.                                
                                                                              
    If the condition subsequent mentioned in the paragraph headed             
    "Conditions of the Third Agreement" above cannot be fulfilled and         
    in the event that Melco has decided to re-sell the 30% equity             
    interests in Great Wonders to STDM, in such case, Melco will procure      
    Melco Entertainment to re-sell such interests to Melco for the            
    consideration previously paid by Melco Entertainment.                     
                                                                              
    EFFECT ON INTEREST HELD IN THE HOSPITALITY BUSINESS BY THE GROUP          
    Upon completion of the Third Agreement and the Great Wonders              
    Agreement, STDM will cease to hold any interest in Great Wonders          
    and the joint venture established between STDM and Melco                  
    (substituted by Melco Entertainment subsequently upon the                 
    formation of the JV Group) pursuant to the First Agreement and the        
    Second Agreement shall be terminated and cease to have further            
    force and effect. Melco and PBL will indirectly hold 60% and 40%          
    equity interest in Great Wonders, which is in consistent with the         
    shareholding structure of other joint venture companies within the        
    JV Group indirectly held by Melco and PBL for the purpose of              
    pursuing the Hospitality Business and other gaming business in            
    Greater China region. After completion of the Great Wonders               
    Agreement, Great Wonders will remain as a non wholly-owned                
    subsidiary of Melco within the JV Group.                                  
                                                                              
    INFORMATION OF THE GROUP                                                  
    Currently, the Group's business is broadly divided into four              
    divisions, namely, (i) leisure and entertainment division; (ii)           
    investment banking and financial services division; (iii)                 
    technology division; and (iv) property investment division. The           
    leisure and entertainment division of the Group comprises the             
    pursuance of the gaming business and the Hospitability Business           
    through the JV Group and the operation of two floating restaurants,       
    namely, Jumbo and Tai Pak, in Aberdeen, Hong Kong.