HONG KONG, Aug. 28 /Xinhua-PRNewswire-FirstCall/ --
    Highlights
    -- Stripping out non-cash and non-operating items, the Group's results
       actually improved from a net loss of approximately HK$323 million in
       1H07 to a net profit of approximately HK$16 million in 1H08.
    -- The Group's Macau gaming business, operated through 37.9%-owned NASDAQ
       listed Melco Crown Entertainment Limited (''MPEL'') staged a major
       turnaround.  The Group's attributable profit from MPEL amounted to
       approximately HK$131 million in 1H08 (1H07: attributable loss of HK$298
       million).
    -- Adjusted EBITDA of MPEL increased dramatically from a negative amount
       of US$13.3 million to a positive amount of US$113.5 million.
    -- Crown Macau delivered impressive returns with VIP rolling chip volume
       increasing by 3,690% on a year-on-year basis to approximately HK$294.9
       billion (US$37.9 billion) in 1H08.  Crown Macau's market share jumped
       to around 14% in June 2008, making it one of the largest VIP casinos in
       the world in terms of betting volume.
    -- Mocha Clubs continued to deliver a steady source of income to MPEL.
    -- City of Dreams has its first phase and four hotels topped out and is
       scheduled for opening in 1H09.

Melco International Development Limited (''Melco'' or the ''Group'', HKEx Code: 200) announced its interim results for the six months ended June 30, 2008.

For the six months ended 30 June 2008, net loss attributable to shareholders amounted to approximately HK$614 million. However, stripping out those non-cash and non-operating items, results actually improved from a net loss of approximately HK$323 million in 1H 2007 to a net profit of approximately HK$16 million in 1H 2008. Please refer to the Results Announcement on the Stock Exchange website for detailed Financial Review.

Mr Lawrence Ho, Group Chairman and CEO of Melco, said, ''I am delighted that Melco secured separate listing for most of its business units at different stock exchanges in major financial centres around the world. In addition to giving the different business units their independent financing platform for supporting development, the endeavour has also helped to consolidate Melco's leadership in the leisure, gaming and entertainment sector in Asia. All business units are moving on the right tracks and we are confident that their efforts in streamlining their businesses are going to bear fruits soon and in turn have better contribution to Melco.''

    Business Review
    LEISURE, GAMING AND ENTERTAINMENT

Melco Crown Entertainment Limited (Nasdaq: MPEL)

The Group's gaming operation is principally conducted through 37.9%-owned NASDAQ listed associate Melco Crown Entertainment Limited (''MPEL''). The Group's attributable contribution from MPEL swung from a loss of approximately HK$298 million in 1H07 to a profit of approximately HK$131 million in 1H08. The turnaround was primarily due to Crown Macau's strategy to enhance its focus on the VIP rolling chip segment in Macau.

Crown Macau, the Group's first hotel-cum-casino project targeting high rollers segment, reported substantially improved operating performance with VIP rolling chip volume increasing by 3,690% on a year-on-year basis to approximately HK$294.9 billion (US$37.9 billion) in 1H08.