10:06     MELCO INT'L DEV<00200> - Announcement & Resumption (9)              

    "Convertible Loan Notes"   HK$1,175 million in principal amount of        
    Convertible Loan Notes due 2010 to be issued by the Company and           
    subscribed by Great Respect under an agreement dated 11th May, 2005       
    between Melco Entertainment, Great Respect and the Company relating       
    to the acquisition by Melco Entertainment of the 49.2% interest of        
    Great Respect in the joint venture established to apply to the Macau      
    Government for the grant of development rights in respect of land         
    in Cotai, Macau, as described in the Acquisition Announcement. The        
    Convertible Loan Notes confer the right to subscribe for new Shares       
    at an initial conversion price of HK$19.93 per Share, subject to          
    adjustment in accordance with the terms and conditions of the             
    Convertible Loan Notes                                                    
                                                                              
    "Directors"   the directors of the Company                                
                                                                              
    "Great Respect"   Great Respect Limited, a company incorporated in        
    the British Virgin Islands which is controlled by a discretionary         
    family trust of Dr. Stanley Ho                                            
                                                                              
    "Great Wonders"   Great Wonders, Investments, Limited, which is           
    currently a 70% owned subsidiary of Melco Entertainment and which         
    would become a wholly owned subsidiary of Melco Entertainment on          
    completion of the proposed acquisition by Melco Entertainment of          
    the remaining 30% interest in Great Wonders held by STDM, announced       
    by the Company on 22nd March 2005                                         
                                                                              
    "Group"   the Company and its subsidiaries                                
                                                                              
    "Independent Third Party"   an independent third party not                
    connected with the Directors, chief executive or substantial              
    shareholders of the Company or any of its subsidiaries or their           
    respective associates                                                     
                                                                              
    "Last Dealing Date"   10th May, 2005, being the last day on which         
    the Shares could be traded on the Stock Exchange prior to the             
    suspension of dealings in the Shares pending the issue of the             
    Acquisition Announcement and this announcement                            
                                                                              
    "Lasting Legend"   Lasting Legend Limited, a company wholly owned         
    by Mr. Lawrence Ho                                                        
                                                                              
    "Listing Rules"   the Rules Governing the Listing of Securities on        
    The Stock Exchange of Hong Kong Limited                                   
                                                                              
    "Melco Entertainment"   Melco Entertainment Limited, an 80% owned         
    subsidiary of Melco PBL Holdings established under the laws of the        
    Cayman Islands to engage in the business of gaming, entertainment         
    and hospitality in the Greater China Region                               
                                                                              
    "Melco Hotels"   Melco Hotels and Resorts (Macau) Limited, a              
    wholly-owned subsidiary of Melco Leisure and Entertainment Group          
    Limited  (itself a wholly owned subsidiary of the Company)                
    established under the laws of Macau, the only material asset of           
    which is the offer received from the Macau Government to grant a          
    long term lease in respect of a parcel of land with an area of 113,325    
    sq. meters located at Taipa, Macau, on the Cotai Strip and the only       
    business of which is to hold and develop that parcel of land if a         
    long term lease is ultimately granted                                     
                                                                              
    "Melco PBL Holdings"   Melco PBL Holdings Limited, a 50/50 joint          
    venture established between the Company and Publishing and                
    Broadcasting Limited (a company established under the laws of             
    Australia and having its shares listed on the Australian Stock            
    Exchange) under the laws of the Cayman Islands to engage in the           
    businesses of gaming, entertainment and hospitality in the Asia           
    Pacific and Greater China regions                                         
                                                                              
    "Mocha Slot"   Mocha Slot Group Limited, an 80% subsidiary of Melco       
    Entertainment, established under the laws of the British Virgin           
    Islands engaged in the business of leasing gaming machines and            
    provision of ancillary management services to lessees of its gaming       
    machines in Macau                                                         
                                                                              
    "Placing"   the placing of the Placing Shares pursuant to the             
    Placing and Subscription Agreement                                        
                                                                              
    "Placing Agent"   Credit Suisse First Boston (Hong Kong) Limited,         
    an Independent Third Party                                                
                                                                              
    "Placing and Subscription Agreement"   the placing and                    
    subscription agreement between the Vendor, the Company and the            
    Placing Agent dated 17th May, 2005                                        
                                                                              
    "Placing Shares"   the 70,000,000 Shares to be placed by the              
    Placing Agent pursuant to the Placing and Subscription Agreement