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Singapore Winning Bid Named Mid-2006

11 April 2006

SINGAPORE – As reported by MarketWatch: "The Singapore Tourism Board Tuesday reiterated it will name the winning bidder for the Marina Bay casino resort in mid-2006, indicating an earlier announcement may not be forthcoming as hoped by some investors.

"STB's comment follows remarks by Trade & Industry Minister Lim Hng Kiang late Monday that the government may skip a second round of presentations by the Marina Bay casino bidders scheduled for early next month.

"The tourism board is the main government agency handling the bidding for Singapore's two casino resorts which are aimed at boosting the city-state's tourism sector.

"Officials from the consortiums of MGM Mirage (MGM) and CapitaLand Ltd. (C31.SG); Harrah's Entertainment Inc. (HET) (and Keppel Land Ltd. (K17.SG); Las Vegas Sands Corp. (LVS); and Genting International (G13.SG) and Star Cruises Ltd. (S21.SG) met Singapore officials last week to discuss their proposals for the city-state's first casino resort at Marina Bay.

"They were scheduled to make a second presentation in early May but it may no longer be required.

"…According to traders, an early decision suggested the authorities were leaning toward the consortiums that included the two government-linked companies…"

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