Prior to working at Genting Malaysia Berhad, Dato' Sim was the Vice President of Finance for Naga Resorts, a casino operator in Cambodia. Dato' Sim is a qualified Chartered Accountant and a Member of the Institute of Chartered Accounts in England and Wales (ICAEW). He graduated from the University of London with BSc(Hons) Mathematics and began his career as an auditor with various Chartered Accountant firms in England and later with Coopers & Lybrand in Malaysia.

Melco Crown Entertainment is currently developing an integrated resort in Entertainment City, Manila which, upon completion by mid-2014, will include mass market and VIP gaming facilities, five-star luxury hotels and specialty restaurants and bars. The resort will also include other notable amenities including Manila's first branded Family Entertainment Center, a live performance central lounge inside the casino and a night club in the Fortune Egg, an architecturally-unique attraction which is expected to become an iconic landmark in the Manila Bay area.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) growth of the gaming market and visitation in Macau, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, and (v) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "target", "aim", "estimate", "intend", "plan", "believe", "potential", "continue", "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is as of the date of this release, and the Company undertakes no duty to update such information, except as required under applicable law.

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