09:33     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)                                                         
                                                                              
    FURTHER 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 further delayed                      
    from 29 April 2005 to on or before 13 May 2005.                           
                                                                              
    Reference is made to the Company's announcements dated                    
    22 March 2005 and 12 April 2005 ("Announcements") in                      
    relation to the possible very substantial acquisition                     
    and connected transaction regarding acquisition of                        
    the remaining interest in the Land and discloseable                       
    transaction regarding 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                       
    Announcements unless the context requires otherwise.                      
                                                                              
    As set out in the Company's announcement dated 12 April                   
    2005, application was made for an extension from 12                       
    April 2005 to a date on or before 29 April 2005 for                       
    the despatch of the 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.                                 
                                                                              
    Additional time is required to prepare the contents                       
    of the Circular, in particular, the pro forma                             
    financial information of the Group which has been                         
    prepared pending review and finalization. The Company                     
    expects to finalize such information by 13 May 2005                       
    and an application has been made to the Stock Exchange                    
    for a further extension of deadline for despatch of                       
    the Circular from 29 April 2005 to a date on or before                    
    13 May 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                                   
    Samuel Tsang                                                              
    Company Secretary                                                         
                                                                              
    Hong Kong, 29 April 2005