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Golden Sun Profits, Macau Success sign deal

9 October 2007

ONG KONG -- (PRESS RELEASE) -- Macau Success Limited ("Macau Success" or "the Company"; Stock Code: 0487) today announced that on 1 October 2007, Golden Sun Profits Limited ("Golden Sun"), an indirect wholly-owned subsidiary of the Company, Maruhan Corporation ("Maruhan"), a leading company in the pachinko industry in Japan, and Macau Success signed a conditional Sale and Purchase Agreement ("S&P Agreement"). Macau Success and Maruhan also signed a Subscription Agreement on the same day.

Pursuant to the S&P Agreement, Maruhan conditionally agreed to purchase 10.2% of the entire issued share capital of World Fortune Limited ("World Fortune"), a company wholly-owned by Golden Sun, and all rights, title, interests and benefits of and in the Sale Loan, at a consideration of HK$208,501,260. World Fortune owns 49% interests in Pier 16 – Property Development Limited ("Pier 16"), a company which is principally engaged in the investment, development and operation of Ponte 16 in Macau. Moreover, Maruhan agreed that it will advance HK$116,368,740 to World Fortune as a shareholder's loan. The consideration for the shares and the shareholder's loan in relation to the S&P Agreement is determined mainly by reference to a valuation report of Ponte 16 issued by Savills (Macau) Limited, an independent professional property valuer. The market value of Ponte 16 as at 30 September 2007 was valued at HK$2,697 million based on Direct Comparison Method.

After the transaction, World Fortune will be an 89.8% owned indirect subsidiary of the Company. Maruhan will as a result hold an interest of approximately 5% in Pier 16 through World Fortune.

Pursuant to the Subscription Agreement, Maruhan will subscribe 220,000,000 new shares issued by the Company, representing approximately 10.0% of the existing issued share capital and approximately 9.1% of the enlarged share capital of the Company. The subscription price shall be equal to the closing price of the shares on the first trading day immediately after the signing of the subscription agreement with a 10% discount or HK$1.08 whichever is lower. The closing price of the shares as quoted on the Stock Exchange on 28 September 2007, being the last trading day of the shares immediately prior to the date of the Subscription Agreement, was HK$1.09 per share.

Mr. Sonny Yeung, Chairman of Macau Success, said, "We are happy to recruit Maruhan as a shareholder and strategic partner in Macau Success Limited and Ponte 16 respectively. Maruhan is a leading player in the pachinko industry in Japan. It will help us build a strong alliance for our future growth in the gaming and entertainment related businesses in the Asia-Pacific region."

Upon completion of the transactions, the Company and its subsidiaries will record an unaudited gain of approximately HK$123.7 million. The Company intends to use the net proceeds of approximately HK$207 million as general working capital and to capture potential business opportunities in the future.

"We are pleased that we have the opportunity to join forces with Maruhan. I am confident that this cooperation will accelerate the strategic growth of Macau Success and provide long-term returns for our shareholders," concluded Mr. Yeung.

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