10:58     MELCO INT'L DEV<00200> - Announcement (1)                           

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    Melco International Development Limited                                   
    (Incorporated in Hong Kong with limited liability)                        
    Website: http://www.melco.hk.cn                                           
    (Stock Code: 200)                                                         
                                                                              
    PROPOSED ACQUISITION OF ADDITIONAL LAND IN MACAU                          
    FOR DEVELOPMENT AS AN INTEGRATED ENTERTAINMENT RESORT                     
    VERY SUBSTANTIAL ACQUISITIONS                                             
    AND CONNECTED TRANSACTIONS                                                
                                                                              
    Financial adviser to Melco International Development                      
    Limited                                                                   
    VC CAPITAL LIMITED                                                        
    (A wholly-owned subsidiary of Value Convergence                           
    Holdings Limited)                                                         
                                                                              
    The Development Project                                                   
    The Directors are pleased to announce that, on 10th May                   
    2005, Melco Hotels accepted in principle an offer from                    
    the Macau Government to grant to Melco Hotels a long                      
    term lease in respect of a plot of land with an area                      
    of approximately 113,325 square metres in Taipa, Macau,                   
    on the Cotai Strip, for the construction and                              
    development of an integrated entertainment resort. The                    
    proposed development is expected to include:                              
                                                                              
    *   one five star hotel with approximately 500 rooms                      
    and two four star hotels with approximately 750 rooms                     
    each                                                                      
                                                                              
    *   subject to obtaining the necessary Macau regulatory                   
    approvals, an underwater casino showcasing tropical                       
    marine life with approximately 45,000 sq. meters gaming                   
    space and 400 mass market gaming tables, 50 premium                       
    player market gaming tables and 3,000 electronic slot                     
    machines                                                                  
                                                                              
    *   two blocks of service apartments with approximately                   
    142,000 sq. meters saleable area                                          
                                                                              
    *   retail shopping space of approximately 10,000 sq.                     
    meters                                                                    
                                                                              
    *   a performance hall with approximately 8,500 sq.                       
    meters auditorium and back of house areas                                 
                                                                              
    *   car parking facilities and other supporting                           
    infrastructure