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Melco Crown Entertainment and Its Subsidiary Receive Multiple Awards From Corporate Governance Asia Recognition Awards and

Melco Crown Entertainment and Its Subsidiary Receive Multiple Awards From
Corporate Governance Asia Recognition Awards and FinanceAsia's Best Companies
in Asia Poll

MACAU, June 23, 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 in
Asia, today proudly announced that the Company has received honor in the 9^th
Corporate Governance Asia Recognition Awards. In addition, its subsidiary,
Melco Crown (Philippines) Resorts Corporation ("MCP") (PSE:MCP), became the
first casino resort operator in Manila to receive honor in FinanceAsia's
annual Best Companies in Asia Poll, in which three awards were garnered by MCP
this year.

Corporate Governance Asia, an authoritative regional publication, has honored
Melco Crown Entertainment with the Outstanding Company on Corporate Governance
award. This accolade recognizes the Company's efforts in adhering to highest
standards of corporate governance.

Melco Crown Entertainment's subsidiary, MCP, was recognized as one of the Best
Managed Companies in the Philippines in FinanceAsia's 13^th annual poll of
Asia's top companies this year. MCP also received recognition in the
categories of Best Corporate Governance and Best Corporate Social
Responsibility in the region. Awardees were selected by investors and analysts
across the region.

Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown
Entertainment, said: "We are delighted to garner these prestigious and
authoritative awards this year and to be recognized by investors and analysts
as being among the most outstanding companies in the region. We have always
strived to maintain the highest corporate governance standards, which we
believe is a cornerstone of our long term success. We are committed to
promoting and maintaining strong corporate governance through careful
compliance with governing laws and regulations. We are particularly pleased to
learn that MCP has been recognized in this manner at this stage of its
expansion in the Philippines. Moving forward, we will continue to adopt
measures to maintain the highest standards of corporate governance by
bolstering governance and transparency, which will enhance the long-term trust
and confidence of our major stakeholders."

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,
Melco Crown (Philippines) Resorts 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.

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

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