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LV Sands, City Developments Join Forces for Singapore Project

LAS VEGAS – (PRESS RELEASE) -- Las Vegas Sands Corp. (NYSE: LVS) and Singapore's leading developer and hotel group, City Developments Limited, announced today that the two companies will jointly pursue the development of an integrated resort at the Marina Bayfront in Singapore.

Under the terms of the memorandum of understanding, Las Vegas Sands Corp. (LVSC) will submit a final proposal to the Singapore government and operate the integrated resort should the company be awarded the bid. City Developments Limited (CDL) plans to take up an equity interest in the project and provide key strategic counsel and advice regarding the contents of the proposal, especially as it relates to areas where CDL has particular expertise and experience. The two parties will work closely on the preparation and finalization of the proposal. CDL and LVSC have agreed to work together on an exclusive basis.

"The addition of City Developments Limited to our Singapore team exemplifies our efforts to assemble the perfect combination of leading local and international talent needed to build and operate a successful world-class integrated resort in Singapore," said Mr. Sheldon G. Adelson, chairman and chief executive officer of Las Vegas Sands Corp.

"CDL takes a long-term view of this mega project. We want to contribute meaningfully to Singapore's economic future. If anyone can develop a successful Integrated Resort of international appeal, it is Las Vegas Sands. We are pleased to have this opportunity to work with Sands and I believe Sands sees us as adding value, given our extensive and valuable experience in property and hotels," said Mr. Kwek Leng Beng, CDL's executive chairman.

Already the industry leader in the Meeting Incentive Convention and Exhibition (MICE) business, Las Vegas Sands has previously announced other key strategic partnerships for its Singapore proposal - including an announcement last week that world-renowned, award-winning chefs Charlie Trotter, Tetsuya Wakuda, Pierre Gagnaire, Hiroyuki Hiramatsu, Alfonso Iaccarino, and Thomas Keller each have plans to open a restaurant in Singapore should the LVSC bid be successful.

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