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Cotai development reaches milestone

2 April 2008

COTAI, Macau -- (PRESS RELEASE) -- Melco PBL Entertainment (Macau) Limited (NasdaqGM:MPEL - News) topped out the Hard Rock hotel and the main podium of its mega-project City of Dreams in Cotai, Macau today.

City of Dreams will be a must-see integrated urban entertainment resort that will combine electrifying entertainment, stylish nightclubs, an amazing array of accommodation options, top-notch dining, world-class shopping as well as a spacious and contemporary casino.

``Our dreams are taking shape. In approximately one year, City of Dreams will begin to welcome visitors from all over the world,' said Lawrence Ho, Co-Chairman and CEO of MPEL at the topping out ceremony. ``Macau is transforming from a gaming-focused destination into a leisure hot spot. City of Dreams will continue to drive this phenomenon and usher in a new era of gaming and entertainment in Macau.'

In addition to approximately 2,200 guest rooms and a wide range of restaurants and bars, City of Dreams will offer a kaleidoscope of entertainment options including stylish nightclubs, live music venues, free attractions and the spectacular Dragone show. The resort will also incorporate a 420,000-square-foot casino with over 550 gaming tables and 1,500 gaming machines.

One of the iconic landmarks of City of Dreams will be a free attraction that will provide visitors with a totally immersive experience, unlike anything they have seen in Asia or elsewhere in the world. Housed in a unique dome-shaped theatre, the production will combine high-definition video content, a customized music score, thousands of theatrical lights and a variety of sensory effects to create a spectacular 10-minute visual extravaganza that is sure to become a must-see for every visitor to Macau.

Renowned for spectacular and imaginative productions, Dragone will stage a permanent show at City of Dreams. Founder Franco Dragone will personally direct the breathtaking water-themed show, created specifically for City of Dreams, which is due to open in Macau in the second half of 2009.

A variety of musical performances by well-known regional acts, emerging artists and cover bands will be staged at a live concert venue that can accommodate up to 1,500 people.

The different styles of accommodation at City of Dreams will meet the diverse tastes of the wide spectrum of visitors the resort will attract from Asia and around the world. The options will include Crown Towers Cotai, Hard Rock Hotel, the Grand Hyatt's twin towers and the apartment hotel, which will together provide over 2,200 guest rooms and suites. Each hotel will also offer its own individual spa and leisure facilities.

``We introduced the Crown brand into Macau in 2007 with the opening of Crown Macau, which has quickly become the property of choice for high-rolling VIP customers in Macau,' said Mr. James Packer, Executive Chairman of Crown Limited, and Co-Chairman and Director of MPEL. ``We are very excited about extending the Crown brand in Macau, which is synonymous with a luxury six-star experience, through the opening of the Crown Towers Cotai at City of Dreams. City of Dreams is testament to our optimism about the future rapid development of the Macau market.'

City of Dreams will also feature a broad range of restaurants, noodle bars, cafes and lounges. These food and beverage venues will be located throughout the resort offering fine dining experiences as well as casual meals.

The resort will be home to some of the world's most sought-after and acclaimed brands, with approximately 175,000 square feet of boutiques featuring high-end fashion labels as well as premium jewellery and watch brands.

Phase one of the City of Dreams resort will feature the casino, restaurants, retail boutiques, nightclubs, the iconic audio visual attraction, Crown Towers and Hard Rock Hotel. Phase one will be completed during the first half of 2009 with the date of the grand opening to be set early next year. The operation of the entire City of Dreams will require the support of 12,000 employees, which the company intends to recruit through a series of career fairs in Macau and throughout Asia starting in the summer of 2008.

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