09:50     MELCO INT'L DEV<00200> - Announcement (3)                           

    Payment terms                                                             
    Subject to the terms and conditions of the SJM Service                    
    Arrangement, SJM shall pay:                                               
                                                                              
    (i)   an initial amount of about HK$15.71 million                         
    representing 50% of the relevant service charge in relation               
    to the System Integration Services for the digital                        
    surveillance camera system upon entering into the SJM                     
    Service Arrangement. The balance of the relevant service                  
    charge will be payable by three installments of amounts                   
    equivalent to 30%, 10% and 10% thereof upon (a) the date of               
    delivery of the relevant system, (b) the date of completion               
    of installation and acceptance test on such system and (c)                
    the expiry date of the three month free warranty period after             
    completion of the acceptance test respectively. According                 
    to the terms and conditions of the SJM Service Arrangement,               
    these three milestone dates are expected to take place in                 
    around mid May 2005, early June 2005 and early September 2005             
    respectively;                                                             
                                                                              
    (ii)   the full amount of about HK$0.074 million in respect               
    of the System Integration Services for the finger print                   
    access control system upon the date of delivery of the                    
    relevant system, which is expected to be around mid May 2005;             
                                                                              
    (iii)   an initial amount of about HK$8.345 million                       
    representing 50% of the relevant service charge in relation               
    to the System Integration Services for the electronic gaming              
    machines upon entering into the SJM Service Arrangement with              
    the remaining 50% thereof to be paid upon the date of delivery,           
    which is expected to be around mid May 2005; and                          
                                                                              
    (iv)   the full amount of about HK$2.75 million for the                   
    Maintenance Services upon the expiration of the three                     
    months' free warranty period, which is expected to be around              
    early September 2005.                                                     
                                                                              
    The different payment schedules that apply to the different               
    hardware systems and equipment are consistent with the                    
    relevant terms offered by different suppliers to Elixir.                  
                                                                              
    2.   Mocha Service Arrangement                                            
    Date   :   13th April 2005                                                
                                                                              
    Parties   :   i.   Elixir                                                 
                                                                              
       ii.   Mocha                                                            
                                                                              
    Information technology related services to be provided under              
    the Mocha Service Arrangement                                             
    Pursuant to the Mocha Service Arrangement, Elixir will                    
    provide to Mocha such Services comprising the System                      
    Integration Services and Maintenance Services (for a term                 
    of one year) which are identical as those to be provided to               
    SJM under the SJM Service Arrangement, details of which are               
    contained in the paragraph headed "Information technology                 
    related services to be provided under the SJM Service                     
    Arrangement" above.