09:30     MELCO INT'L DEV<00200> - Announcement                               

    The Stock Exchange of Hong Kong Limited takes no                          
    responsibility  for the contents of this announcement,                    
    makes no representation as to its accuracy or                             
    completeness and expressly disclaims any liability                        
    whatsoever for any loss howsoever arising from or in                      
    reliance upon the whole or any part of the contents                       
    of this announcement.                                                     
                                                                              
    Melco International Development Limited                                   
    (Incorporated in Hong Kong with limited liability)                        
    Website: http://www.melco.hk.cn                                           
    (Stock Code: 200)                                                         
                                                                              
    DELAY IN DESPATCH OF CIRCULAR IN RELATION TO                              
    POSSIBLE VERY SUBSTANTIAL ACQUISITION                                     
    AND CONNECTED TRANSACTION                                                 
    ACQUISITION OF THE REMAINING INTEREST IN THE LAND                         
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
    INJECTION OF INTEREST IN THE LAND                                         
    INTO THE JOINT VENTURE GROUP                                              
                                                                              
    Financial adviser to Melco International Development                      
    Limited                                                                   
    VC CAPITAL LIMITED                                                        
                                                                              
    (A wholly-owned subsidiary of Value Convergence                           
    Holdings Limited)                                                         
                                                                              
    The despatch of the Circular will be delayed from 12                      
    April 2005 to on or before 29 April 2005.                                 
                                                                              
    Reference is made to the Company's announcement dated                     
    22 March 2005 ("Announcement") in relation to the                         
    possible very substantial acquisition and connected                       
    transaction regarding the acquisition of the                              
    remaining interest in the Land and discloseable                           
    transaction regarding the injection of interest                           
    in the Land into the JV Group. Terms used in this                         
    announcement shall have the same meaning as those                         
    defined in the Announcement unless the context                            
    requires otherwise.                                                       
                                                                              
    Pursuant to Rules 14.38 and 14A.49 of the Listing Rules,                  
    the Company is required to despatch to the                                
    Shareholders a circular ("Circular") containing,                          
    among other things, (i) the principal terms of the                        
    Third Agreement; (ii) the principal terms of the                          
    Great Wonders Agreement; (iii) the valuation report                       
    of the Land; (iv) the recommendation from the                             
    independent board committee of the Company in respect                     
    of the Third Agreement and the transactions                               
    contemplated thereunder; (v) a letter of advice                           
    from the independent financial adviser to the                             
    independent board committee of the Company in respect                     
    of the Third Agreement and the transactions                               
    contemplated thereunder; and (vi) a notice of                             
    the EGM, within 21 days after the publication of the                      
    Announcement, namely, on or before 12 April 2005.                         
                                                                              
    As additional time is required to finalize the                            
    contents of the Circular, in particular, the financial                    
    information of the Group, the Company has made an                         
    application to the Stock Exchange for a waiver from                       
    strict compliance with the requirements of Rules                          
    14.38 and 14A.49 of the Listing Rules and an extension                    
    of deadline for the despatch of the Circular from 12                      
    April 2005 to on or before 29 April 2005.                                 
                                                                              
    As at the date of this announcement, the Board                            
    comprises three Executive Directors, namely, Dr.                          
    Stanley Ho, Mr. Lawrence Ho and Mr. Frank Tsui, two                       
    Non-executive Directors, namely, Mr. Ng Ching Wo and                      
    Mr. Ho Cheuk Yuet 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                                   
    Ho, Lawrence Yau Lung                                                     
    Managing Director                                                         
                                                                              
    Hong Kong, 12 April 2005