Melco Crown Entertainment's Altira Macau and Crown Towers Both Named Five-Star Hotels by Forbes Travel Guide

Melco Crown Entertainment's Altira Macau and Crown Towers Both Named Five-Star
Hotels by Forbes Travel Guide

This Marks Altira Macau's Fourth Consecutive Year, While City of Dreams' Crown
Towers is the First Hotel Brand in the Cotai Region to Receive This
Prestigious Award

MACAU, Feb. 27, 2013 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited
(SEHK:6883) (Nasdaq:MPEL) ("Melco Crown Entertainment" or the "Company"), a
developer and owner of casino gaming and entertainment resort facilities
currently focused on the Macau market, today proudly announced that its two
luxurious hospitality establishments, Altira Macau and City of Dreams' Crown
Towers bestowed the Forbes Five-Star Hotel Awards by the 2013 Forbes Travel
Guide. Altira Macau is proud to have earned the highest rating in both the
Hotel and Spa categories for four consecutive years, while City of Dreams'
Crown Towers is the first hotel brand in the Cotai region to receive this
coveted award.

On February 26, Forbes Travel Guide unveiled its 55th annual listing of Star
Award-winning worldwide hospitality establishments in Los Angeles. Altira
Macau and City of Dreams' Crown Towers are among the world's 76 Five-Star
Hotels with this prestigious list featuring only five hotels from Macau.
Worldwide, Altira Spa is one of only 35 hotel and resort spas to have received
the Five-Star rating honor in 2013, and is one of only four Macau-based spas
to be recognized.

Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown
Entertainment, said, "We are honored to have again received this very
prestigious and authoritative accolade and to be recognized among the best
hotels and spas in the world. The coveted Five-Star awards reflect the
exceptional commitment that is present at both Altira Macau and City of
Dreams' Crown Towers, whereby each and every guest experiences the true art of
hospitality."

Approaching its sixth anniversary, the contemporary luxurious Altira Macau is
proud to have earned the highest rating in both the Hotel and Spa categories
for four consecutive years. Its contemporary, luxurious décor and attention to
detail mean that it has always been one of the town's most favorite
hospitality brands for both tourists and locals.

City of Dreams' Crown Towers, on the other hand, is a recipient of this
accolade for the first time and the award represents yet another step in the
resort's progress towards becoming a premier leisure and entertainment
destination in the Asian region. A hotel that truly understands the meaning of
opulence, Crown Towers is a pure luxury and indulgence in the heart of City of
Dreams, and is the first Cotai hotel brand to have ever been acknowledged by
the Forbes institution for Five-Star service excellence.

The Forbes Travel Guide has defined the industry's highest standard for
excellence in hospitality for over 50 years, providing one of the most
comprehensive evaluation systems of hotels, restaurants and spas in the world.
The Forbes Five-Star Hotel Awards are granted to hotels with exceptionally
distinctive luxury environments that offer a consistently superlative,
personalized service, and extensive amenities and treatments. Similarly, the
Forbes Five-Star Spa Awards recognize exceptionally distinctive hotel spa
experiences that meet an equivalent standard.

Mr. Lawrence Ho further explained, "Both Altira Macau and Crown Towers at City
of Dreams, Macau represent Melco Crown Entertainment's in-depth understanding
of the hospitality landscape in Asia and its commitment to elite tourism. The
awards fortify our contribution to Macau's transformation into an
international travel and leisure destination for the most discerning guests."

Over the course of 2012, both Altira Macau and City of Dreams have garnered
multiple industry honors and forms of recognition. City of Dreams was awarded
the "Integrated Resort of the Year" award at the 6^th International Gaming
Awards. Its contemporary French restaurant, The Tasting Room, was honored with
the prestigious Michelin star rating in the "Michelin Guide Hong Kong & Macau
2013" and ranked number five in "Hong Kong Tatler's Best Restaurants Guide"
inaugural list of the 20 top restaurants in Hong Kong and Macau. City of
Dreams' signature Chinese restaurant, Jade Dragon, was named "Best New
Restaurant". Altira Macau's Aurora, Kira, Tenmasa and Ying restaurants were
also recommended in the prestigious fine dining guide. Furthermore, Melco
Crown Entertainment's next resort project in Cotai, Studio City, was also
acknowledged as the "Best High-Yield Bond" at the 2012 Finance Asia
Achievement Awards.

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.

About Melco Crown Entertainment Limited

Melco Crown Entertainment, with its shares listed on the Main Board of The
Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange")
(SEHK:6883) and its American depositary shares listed on 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), 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 comprise the largest non-casino based
operations of electronic gaming machines in Macau. The Company is also
developing the planned Studio City Project, a cinematically-themed 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.

Investment Community, please contact:
Ross Dunwoody
Vice President, Investor Relations
Tel: +853 8868 7575 or +852 2598 3689
Email: rossdunwoody@melco-crown.com

For media enquiry, please contact:
Maggie Ma
Head of Corporate Communications
Tel: +853 8868 3767 or +852 3151 3767
Email: maggiema@melco-crown.com