Two China Marketing Awards Reiterate Success of 'The House of Dancing Water'

Two China Marketing Awards Reiterate Success of 'The House of Dancing Water'

Making Macau so Different

MACAU, July 27, 2012 (GLOBE NEWSWIRE) -- City of Dreams celebrated the newest
triumph of its flagship world-class entertainment offering 'The House of
Dancing Water' ("Show"). The Show has won the 2011-2012 China Marketing
Excellence Award and China Branding Excellence Award - jointly hosted by
Economic Observer (China's leading business newspaper) and Hong Kong
Management Association ("HKMA"). The awards - held for the past ten years
since 2003 - have become the premier indicator of success in China's marketing
landscape. 'The House of Dancing Water' is the only entertainment brand among
this year's award recipients.

'The House of Dancing Water' Awards
 'The House of Dancing Water' has won
 the "2011-2012 China Marketing
 Excellence Award" and "China Branding
 Excellence Award".

'The House of Dancing Water' masterpiece
 "The House of Dancing Water" is a
 creative masterpiece blending the best
 of the best entertainment elements from
 both East and West.

'The House of Dancing Water' anniversary
 As the second anniversary of the 'The
 House of Dancing Water' approaches this
 September, the show will announce
 series of promotional activities. Come
 to the 'The House of Dancing Water' to
 experience this incredible live
 entertainment event!

'The House of Dancing Water' is a truly unique show in every sense. Following
five years of development, approximately two years of rehearsal, and with
production investment running at over HKD2 billion (USD250 million), this
incredible production has become the iconic entertainment centerpiece of City
of Dreams and is deservedly garnering a growing international reputation as
one of the most innovative and awe-inspiring productions to be staged anywhere
in the world. Envisioned by Mr. Lawrence Ho, Co-Chairman and CEO of Melco
Crown Entertainment Limited, and personally created and directed by the
world's greatest showmaker Mr. Franco Dragone, 'The House of Dancing Water' is
a creative masterpiece blending the best of the best entertainment elements
from both East and West. It is testament to Mr. Ho and Melco Crown
Entertainment's multi-day stay strategy, which catalyzed Macau's
transformation into an all-round tourist destination and ushered in a new-era
for Asia's leisure and entertainment industry.

'The House of Dancing Water' intertwines the splendor of human performance
with spectacular scenes of beautiful romantic water dances, showcasing
sequences such as a 'human chandelier' and 'Russian swings', that involve
high-performance diving and gymnastic artistry. The excitement of the Show
reaches a climax when the incredible motorcycle acrobats and flying strap
performers whiz through the air in a stunning display of skills, precision and
artistry.

In the close to two years since its opening, 'The House of Dancing Water' has
truly become one of Macau's entertainment landmarks. The integrated marketing
campaign has played a big role in the Show's success. Working in-sync with
traditional advertising campaigns, 'The House of Dancing Water' incorporates
the Show's unique stories as part of promotions – creating an emotional
interaction with the general public. Marketing efforts have focused on
creating genuine and meaningful conversations about the Show on a variety of
media platforms – as well as leveraging Asian celebrity Sammi Cheng and
international piano maestro Li Yundi to enhance the Show's relevance and
expand its influence throughout Asia.

Ms Viveca Chan, a judge at the China Marketing Award, Chairman & CEO of WE
Marketing Group and Council Member of HKMA, said: "The successful marketing
campaign has promoted 'The House of Dancing Water' from another performance
into a must-see show in Macau. It matches up with Macau's transformation into
an all-round tourist destination, and puts Macau on the world map of
entertainment. It is a representative work that an entertainment program and a
city's development perfectly complement each other."

Mr. Sunny Yu, Senior Vice President, Entertainment and Projects of Melco Crown
Entertainment Limited said, "We are very proud 'The House of Dancing Water'
has won the two Excellence Awards. The success of the Show is also the success
of the city of Macau as an international travel and leisure destination. 'The
House of Dancing Water' will continue to offer the absolute best in live
entertainment, contribute to the growth of the city as an all-round leisure
and entertainment hotspot, and differentiate Macau from other entertainment
hubs around the world."

As the second anniversary of the 'The House of Dancing Water' approaches this
September, the Show will announce series of promotional activities. Come to
the 'The House of Dancing Water' to experience this incredible live
entertainment event!

Photos accompanying this release are available at

http://www.globenewswire.com/newsroom/prs/?pkgid=13820

http://www.globenewswire.com/newsroom/prs/?pkgid=13821

http://www.globenewswire.com/newsroom/prs/?pkgid=13822

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 parent company of City of Dreams, Melco
Crown Entertainment Limited ("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) the
Company's anticipated growth strategies, and (v) the Company's 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.

About Melco Crown Entertainment Limited

Melco Crown Entertainment Limited ("Melco Crown Entertainment"), an
entertainment company listed on the Main Board of The Stock Exchange of Hong
Kong Limited (SEHK:6883) and the NASDAQ Global Select Market (Nasdaq:MPEL), is
a developer, owner and through a Macau subsidiary which holds a gaming
sub-concession, an operator of casino gaming and entertainment casino resort
facilities focused on the Macau market. Melco Crown Entertainment currently
operates Altira Macau (www.altiramacau.com) (formerly Crown Macau), a casino
hotel located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com),
an integrated urban casino resort located in Cotai, Macau. Melco Crown
Entertainment's business also includes the Mocha Clubs (www.mochaclubs.com),
which feature a total of approximately 2,100 gaming machines in ten locations
and comprise the largest non-casino based operations of electronic gaming
machines in Macau. The Company is also developing the planned Studio City
Project, a large integrated entertainment, retail and gaming resort in Cotai,
Macau. For more information about Melco Crown Entertainment, please visit
www.melco-crown.com.

Melco Crown Entertainment has strong support from both of its major
shareholders, Melco International Development Limited ("Melco") and Crown
Limited ("Crown"). Melco is a listed company on the Hong Kong Stock Exchange
and is substantially owned and led by Mr. Lawrence Ho, who is Co-Chairman, an
Executive Director and the CEO of Melco Crown Entertainment. Crown is a top-50
company listed on the Australian Securities Exchange and led by Executive
Chairman Mr. James Packer, who is also Co-Chairman and a Non-executive
Director of Melco Crown Entertainment.

About City of Dreams

City of Dreams is operated by a Macau subsidiary of Melco Crown Entertainment
Limited, an entertainment company listed on the Main Board of The Stock
Exchange of Hong Kong Limited (SEHK:6883) and the NASDAQ Global Select Market
(Nasdaq:MPEL). It is an integrated entertainment resort that has established
itself as a premier leisure and entertainment destination in Macau. Located in
the heart of Cotai in Macau, it combines electrifying entertainment, a diverse
array of accommodation, regional and international dining, designer brand
shopping and a spacious and contemporary casino. The resort brings together a
collection of world-renowned brands including Crown, Grand Hyatt, Hard Rock
and Dragone to create an exceptional entertainment experience that aims to
appeal to a broad spectrum of visitors from around Asia and the world. City of
Dreams features a 420,000-square-foot casino with approximately 400 gaming
tables and approximately 1,300 gaming machines; over 20 restaurants and bars;
an impressive array of some of the world's most sought-after retail brands;
and Dragon's Treasure, an iconic and spectacular audio visual multimedia
experience. 'The House of Dancing Water', the world's largest water-based
extravaganza showcased in the purpose-built Dancing Water Theater, represents
the live entertainment centerpiece of City of Dreams' overall leisure and
entertainment offering. A comprehensive range of accommodation options at City
of Dreams include Crown Towers offering approximately 300 guest rooms, Hard
Rock Hotel offering approximately 300 guest rooms and Grand Hyatt Macau
offering approximately 800 guest rooms. A second planned phase of development
at City of Dreams will feature an apartment hotel consisting of approximately
800 units. For more information please visit: www.cityofdreamsmacau.com
(Official Website) and www.cityofdreamsmedia.com (Medial Portal). For The
House of Dancing Water information, please visit
www.thehouseofdancingwater.com (Official Website) and
www.thehouseofdancingwatermedia.com (Media Portal).

About Franco Dragone Entertainment Group

The Franco Dragone Entertainment Group, founded in 2000 by Mr. Franco Dragone,
conceives, produces and stages live shows, which integrate post modern dance,
music, circus art and special effects within a dramatic narrative. The Franco
Dragone Entertainment Group captivates audiences through a unique combination
of disciplines sensitively orchestrated to produce one of the world's most
spectacular shows.

Mr. Franco Dragone made his name in the 1980's and 1990's as the leading
creative force behind Cirque du Soleil where he created groundbreaking shows
such as Mystère, Saltimbanco, Alegria, Quidam, O, and La Nouba. Over 70
million people have experienced Mr. Franco Dragone's unique theatrical
creations. Since its establishment, Dragone has proven itself with critical
acclaim and commercial successes including:

  * Le Rêve, a permanent show produced in conjunction with Wynn Resorts in Las
    Vegas. The show has celebrated its 2000th performance on stage in November
    2009 and its 5th Anniversary in May 2010, and it is still a mainstay in
    the city's show scene.
     
  * A New Day, a Las Vegas resident show starring Céline Dion and
    incorporating her music. Over 3.5 million spectators attended the show
    over 5 years with daily sell out shows. Dragone has created and produced
    26 shows and events including Euro 2000 and the Disney Cinema Parade in
    Paris.
     
  * Kung Fu Panda, a Kung Fu Panda Touring Live Show will be produced for
    Dreamworks Animation in 2012

Mr. Franco Dragone is building an entertainment group with a recognized global
brand name for creating and producing the world's spectacular live shows. In
order to do this, the Company plans to open at least one long run spectacular
live show, either permanent or touring, per year.

For media inquiries, please contact:
                                    
City of Dreams                      
Louisa Wong                        Charles Ngai
Tel : (853) 8868 7554              Tel : (853) 8868 7553
Email : louisawong@melco-crown.com Email : charlesngai@melco-crown.com
                                    
Edelman                             
Kim Huang                          Yoko Liu
Tel : (86) 20 2805 2320            Tel : (86) 20 2805 2330
Email : kim.huang@edelman.com      Email : yoko.liu@edelman.com