09:13 MELCO INT'L DEV<02981> - Announcement (2) ADJUSTMENTS TO THE FINAL DIVIDEND Shareholders are reminded that following the passing of the ordinary resolution in relation to the Share Subdivision, the final dividend declared at the AGM at HK one cent per Share will be subdivided accordingly. The adjusted dividend rate for the Subdivided Shares would be HK 0.5 cent per Subdivided Share and payable to the Shareholders whose names appear on the register of members of the Company on 18 May 2005. TRADING ARRANGEMENTS FOR THE SHARE SUBDIVISION The timetable of trading arrangements for the Share Subdivision set out in the circular of the Company dated 18 April 2005 is reproduced below : 2005 Effective date of the Share Subdivision Thursday, 19 May Dealings in Subdivided Shares commence 9:30 a.m. on Thursday, 19 May Original counter for trading in existing Shares in board lots of 2,000 Shares temporarily closes 9:30 a.m. on Thursday, 19 May Temporary counter for trading in Subdivided Shares in board lots of 4,000 Subdivided Shares (in the form of existing share certificates) opens 9:30 a.m. on Thursday, 19 May First day for free exchange of certificates for existing Shares for new certificates for Subdivided Shares Thursday, 19 May Original counter for trading in Subdivided Shares in board lots of 1,000 Subdivided Shares (in the form of new certificates for Subdivided Shares) re-opens 9:30 a.m. on Thursday, 2 June Parallel trading in Subdivided Shares (in the form of new certificates for Subdivided Shares and certificates for existing Shares) commences 9:30 a.m. on Thursday, 2 June Temporary counter for trading in Subdivided Shares in board lots of 4,000 Subdivided Shares (in the form of existing share certificates) closes 4:00 p.m. on Thursday, 23 June Parallel trading in Subdivided Shares (in the form of new certificates for Subdivided Shares and certificates for existing Shares) ends 4:00 p.m. on Thursday, 23 June Last day for free exchange of certificates for existing Shares for new certificates for Subdivided Shares 4:00 p.m. on Thursday, 30 June Shareholders may, during business hours from Thursday, 19 May, 2005 to 4:00 p.m. on Thursday, 30 June, 2005 (both dates inclusive), submit their existing certificates for the Shares to the Company's share registrars, Standard Registrars Limited at Ground Floor, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchai, Hong Kong in exchange for new certificates for the Subdivided Shares (on the basis of every one Share for two Subdivided Shares) free of charge. Thereafter, share certificates for Shares will be accepted for exchange only on payment of a fee of HK$2.50 (or such amount as may from time to time be specified by the Stock Exchange) for each new certificate issued for the Subdivided Shares or each old share certificate submitted, whichever number of share certificate involved is higher. CHANGE OF BOARD LOT SIZE As at the date of this announcement, Shares are traded on the Stock Exchange in board lots of 2,000 Shares. As a result of the Share Subdivision becoming effective, the board lot size of the Subdivided Shares for trading will be changed to 1,000 Subdivided Shares according to the above mentioned timetable. As the Subdivided Shares will be traded in board lots of 1,000 Subdivided Shares, the Share Subdivision will not result in trading of Shares in an odd lot for any whole board lot of 2,000 Shares held by the Shareholders. Therefore, no odd lot arrangement will be provided to the Shareholders by virtue of the Share Subdivision. ADJUSTMENTS IN RELATION TO THE CONVERTIBLE SECURITIES As at the date of this announcement, there are no outstanding options, warrants or securities convertible or exchangeable into Shares other than the following: