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Chinese and Australian Ambassadors to the Philippines Attend the Inauguration of Melco Crown Entertainment's Integrated Resort



Chinese and Australian Ambassadors to the Philippines Attend the Inauguration
of Melco Crown Entertainment's Integrated Resort Development in Entertainment
City, Manila

MANILA, Philippines, March 15, 2013 (GLOBE NEWSWIRE) -- Melco Crown
Entertainment Limited ("Melco Crown Entertainment" or the "Company")
(SEHK:6883) (Nasdaq:MPEL), a developer and owner of casino gaming and
entertainment resort facilities currently focused on the Macau market,
announced that its subsidiary, Melco Crown (Philippines) Resorts Corporation
("Melco Crown Philippines"), a company listed on the Philippine Stock Exchange
today held an Officiating Ceremony to inaugurate MCE Leisure (Philippines)
Corporation ("MCE Leisure")'s alliance with SM Group's Belle Corporation, and
to announce MCE Leisure's integrated resort development in Entertainment City,
Manila. MCE Leisure is a subsidiary of the Company and an affiliate of Melco
Crown Philippines.

As a great honor for Melco Crown Philippines, Her Excellency Ms. Ma Keqing,
China's Ambassador to the Philippines, His Excellency Mr. Bill Tweddell,
Australia's Ambassador to the Philippines and Mr. Cristino L. Naguiat, Jr.,
Chairman and CEO of PAGCOR attended today's Officiating Ceremony as
Guests-of-Honor. They joined Mr. Lawrence Ho, Co-Chairman and Chief Executive
Officer of Melco Crown Entertainment, Mr. James Packer, Co-Chairman of Melco
Crown Entertainment, Mr. Willy Ocier, Vice Chairman of Belle Corporation and
senior representatives of the SM Group, in marking the official beginning of
the entry of Melco Crown Entertainment into the fast-growing and dynamic
leisure and tourism industry in the Philippines.

Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown
Entertainment, said, "We are grateful of the support from the Chinese and
Australian Embassies regarding our new integrated casino resort in Manila,
which provides us with an opportunity to showcase our vast experience in
designing and operating World-Class gaming and entertainment resorts in Asia.
We would also like to express our gratitude to the Government of the Republic
of the Philippines and PAGCOR for providing us with this unique opportunity to
be involved in the exciting and dynamic Entertainment City development, which
we believe will meaningfully enhance the Philippines as a World-Class leisure
and tourism destination.

Located on a 6.2 hectare site at the gateway of Entertainment City, within the
Manila Bay area, MCE Leisure's integrated resort complex will include mass
market and VIP gaming facilities, unique food and beverage offerings, numerous
innovative entertainment attractions together with high-end boutique and VIP
and five-star luxury hotel rooms, suites and villas.

With a vision of bringing an outstanding and multi-dimensional entertainment
experience to Manila, the resort's entertainment elements will leverage off
Melco Crown Entertainment's experience in delivering spectacular entertainment
attractions catering towards Asian tastes and preferences. The integrated
resort will feature three distinctive entertainment venues, including Manila's
first branded Family Entertainment Center, a live performance central lounge
inside the casino and a night club situated at the Fortune Egg, an
architecturally-unique dome-like structure, which will be accented with
creative exterior lighting design and is expected to become an iconic landmark
of the Manila Bay area.

Mr. Ho continued, "It has always been our vision to pioneer the most
innovative, world-class entertainment and leisure attractions throughout Asia,
including the Philippines. The Philippines is a rapidly emerging market, with
a burgeoning middle class and strong economic growth expected to contribute to
robust growth in domestic tourism. Helped by a committed and forward-thinking
Government approach to driving tourism, the Philippines is also well placed to
cater to the increasingly affluent and growing middle class throughout Asia,
who continue to seek new travel destinations and experiences throughout the
region. We are confident that our Manila resort project would contribute
meaningfully to the Philippines Government's aim to promote tourism. We are
also looking forward to working with Belle Corporation of the SM Group, one of
the leading developers of high-end residential and leisure properties in the
Philippines, to bring this exciting project to realization and ensure its long
term success."

Melco Crown Entertainment has been a pioneer in delivering innovative,
top-notch entertainment attractions to enhance the tourism and economic
diversity of Macau, as illustrated by the multiple award-winning extravaganza,
The House of Dancing Water Show at City of Dreams, Melco Crown Entertainment's
flagship integrated entertainment resort in Macau, which has redefined the
entertainment landscape in the region.

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 currently 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. In the Philippines,
MCE Leisure (Philippines) Corporation, a subsidiary of Melco Crown
Entertainment, has been cooperating with SM Group's Belle Corporation to
develop and operate a casino, hotel, retail and entertainment integrated
resort in the Entertainment City complex in Manila. 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.

For media enquiries, please contact

Melco Crown Entertainment              
Maggie Ma                              
Head of Corporate Communications       
Tel: +853 8868 3767 or +852 3151 3767 
Email: maggiema@melco-crown.com        
                                       
Strategic Financial Relations Limited  
Manila Team (Havas PR Agatep)          
Charlie Agatep                        Elizabeth Gokauchi 
Tel: +632 6359355 to 60 loc. 182      Tel: +632 6359355 to 60 loc. 164 
Mobile: +639 175334596                Mobile: +639 228332821
Email:                                Email:
charlie.agatep@havaspragatep.com      elizabeth.gokauchi@havaspragatep.com
                                       
Hong Kong Team                         
Mandy Go                              Sherman Yu 
Tel: +852 2864 4812                   Tel: +852 2114 4956
Email: mandy.go@sprg.com.hk           Email: sherman.yu@sprg.com.hk
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