City of Dreams and DFS Group Present the Most Unique, Eye-Opening Luxury Retail Experience in Macau

Set to Transform the Region’s Retail Landscape

MACAU–(BUSINESS WIRE)–Melco Crown Entertainment Limited (Nasdaq: MPEL) (“Melco Crown
Entertainment” or the “Company”), developer, owner and operator of
casino gaming and entertainment casino resort facilities in Asia, and
DFS Group, the world’s leading luxury travel retailer, proudly unveiled
together the exciting expansion of City of Dreams’ retail area, which is
managed and operated by T Galleria by DFS. In addition to being
three times larger than the former retail space, the new shopping
precinct represents a strategically designed, exclusive and eye-opening
lifestyle luxury shopping experience in the heart of Macau.


A LUXURIOUS RETAIL LANDMARK IN MACAU

Introducing a stunningly edgy department-store style concept to Macau,
City of Dreams and DFS have created a luxurious, contemporary and
inviting atmosphere within City of Dreams’ expanded retail area,
headlining the T Galleria by DFS brand. Delightful and
contemporary, the expansion is designed and built using elements of
glass, marble and steel combined with warm wood accents. The setting is
intended to be both dramatic and intimate, encouraging visitors to
relax, unwind and indulge their taste for shopping and leisure. The
expanded retail space links dining areas, casinos, retail stores,
entertainment attractions and hotels, leading visitors on an engaging
journey of some of the best retail and leisure experiences in Macau.

“City of Dreams has always been at the forefront of shaping Macau into a
world center of avant-garde entertainment, delivering world-class
leisure and entertainment offerings to the region. Today, we are pleased
to announce the expansion plan of the retail precinct of City of Dreams,
which will bring to our flagship property many firsts in town. Through
our partnership with DFS Group, City of Dreams features the largest
collection of luxury brands in Cotai and creates an exciting luxury
shopping scene for all aspirational, sophisticated and cosmopolitan
leisure seekers in the region,” said Lawrence Ho, Chairman and Chief
Executive Officer of Melco Crown Entertainment Limited.

“Since entering the market in 2008, Macau has and continues to be an
incredibly important destination for our customers and for DFS, which is
why we are thrilled to unveil a retail concept here that is a first for
DFS in terms of its scale, audacity and innovation. It is also a first
for Macau in terms of providing a curated and modern product selection
across the major luxury categories, targeting new and experienced
travelers alike,” Philippe Schaus, DFS Group’s Chairman and
CEO
said. “T Galleria by DFS, City of Dreams will combine the
breadth of a luxury shopping mall with the personalized service of a
high-end department store. Only DFS could deliver this unparalleled
shopping adventure at the core of City of Dreams, complementing a
concentration of some of the best restaurants, world-renowned hotels and
world-class entertainment offerings with a fresh and luxurious shopping
experience in the heart of Macau.”

FIRST-EVER SHOE SALON HEADLINES MANY “FIRSTS”

Opening in phases between June and December, City of Dreams’ T
Galleria by DFS will boast the largest collection of luxury brands in
Cotai. In addition to beauty and fragrances, fashion and accessories,
and watches and jewelry brands, the expanded retail space will introduce T
Galleria’s signature customer services exclusively to City of Dreams’
customers, including the first-ever shoe salon to be opened in the third
quarter as well as a multi-brand lifestyle shopping area dedicated to
men’s fashion and grooming.

“City of Dreams is the ideal location for DFS to launch our first
dedicated shoe collection,” said Schaus. “Customers in Macau are
both discerning and adventurous, and our shoe salon will enable them to
indulge their taste for the latest fashion styles as well as find
something unique.”

Offering over 50 men’s and women’s shoe brands across two floors,
highlighted by exclusive-to-Macau brands such as Aquazzura and Rupert
Sanderson, the new shoe hall will be the largest shoe salon in Hong Kong
and Macau and a destination unto itself.

TRUE LUXURY WITH “DREAM” BRANDS AND A DREAM SHOPPING EXPERIENCE

The expanded beauty and fragrance section opens this month. When fully
expanded, the 23,000 square feet of space will comprise two wings and
feature nearly 70 beauty and fragrance brands, making it the largest
beauty hall in Southern China. Highlights include popular Korean brands
Sulwhasoo, Laneige and HERA.

For fashion-lovers, the experience is elevated with the June opening of
31 new fashion and accessories brands, including Louis Vuitton, Dior,
Prada, Miu Miu and Fendi. And catering to male customers for the first
time at any T Galleria by DFS store, there will be a dedicated
multi-branded, lifestyle area that mixes ready-to-wear, accessories,
shoes, watches and grooming all in one space.

By the end of this year, the phased opening will culminate in a
significantly wider jewelry offering, bringing key luxury jewelry brands
Tiffany & Co. and Van Cleef & Arpels to City of Dreams as well as new
watches boutiques from Audemars Piguet and Vacheron Constantin.

To ensure a uniquely disruptive and ultimately fulfilling experience for
all, exclusive dining outlets for high tea and social gatherings will
also be integrated into the environment.

To download high resolution photos click here.

Safe Harbor Statement

This press release 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 and the Philippines, (ii)
capital and credit market volatility, (iii) local and global economic
conditions, (iv) our anticipated growth strategies, (v) gaming authority
and other governmental approvals and regulations, and (vi) 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
press release is as of the date of this press 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 American depositary shares listed on
the NASDAQ Global Select Market (NASDAQ: MPEL), is a developer, owner
and operator of casino gaming and entertainment casino resort facilities
in Asia. 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 also majority owns and operates
Studio City (www.studiocity-macau.com),
a cinematically-themed integrated entertainment, retail and gaming
resort in Cotai, Macau. In the Philippines, Melco Crown (Philippines)
Resorts Corporation’s subsidiary, MCE Leisure (Philippines) Corporation,
currently operates and manages City of Dreams Manila (www.cityofdreams.com.ph),
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 is strongly supported by its single largest
shareholder, Melco International Development Limited (“Melco”)
and its other major shareholder, Crown Resorts Limited (“Crown”). Melco
is a listed company on the Main Board of The Stock Exchange of Hong Kong
Limited and is substantially owned and led by Mr. Lawrence Ho, who is
the Chairman, Executive Director and Chief Executive Officer of Melco
Crown Entertainment. Crown is a top-100 company listed on the Australian
Securities Exchange and led by Mr. James Packer, who is the Deputy
Chairman and a Non-executive Director of Melco Crown Entertainment.

About City of Dreams

City of Dreams is developed by Melco Crown Entertainment Limited, an
entertainment company listed on 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; ‘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) andwww.thehouseofdancingwatermedia.com (Media
Portal).

About DFS Group

DFS Group is the world’s leading luxury travel retailer. Established in
Hong Kong in 1960, DFS Group continues to be a pioneer in global luxury
travel retail, offering its customers a carefully curated selection of
exceptional products from over 700 of the most desired brands through
420 boutiques on three continents. Its network consists of duty free
stores located in 17 major global airports and 17 downtown Galleria
locations, as well as affiliate and resort locations. The Group is
privately held and majority owned by the world’s largest luxury
conglomerate Moët Hennessy Louis Vuitton (LVMH), alongside DFS
co-founder and shareholder Robert Miller. DFS Group employs over 9,000
people focused on creating inspiring retail experiences for its
customers. In 2015, over 164 million travelers visited DFS stores. DFS
is headquartered in Hong Kong and has offices in Beijing, Chengdu,
Hawaii, Los Angeles, Paris, Sao Paulo, Shenyang, Shanghai, Singapore and
Tokyo.

For more information, please visit www.dfsgroup.com.

About T Galleria by DFS

T Galleria by DFS, formerly known as DFS Galleria, is the
ultimate evolution of the original travel retail concept pioneered by
DFS Group. The first downtown store opened in 1968 in Hong Kong,
followed shortly thereafter by Honolulu and eventually expanding to
fourteen locations all over the world. Today, T Galleria by DFS
has a presence in the United States, as well as across Asia, Australasia
and the South Pacific regions. Linked to the notion of travel through
the use of T for the Traveler, the brand stands for what customers have
come to expect: an expertly curated assortment of the world’s preferred
luxury brands, exceptional retail environments, highly personalized
services and unique experiences tailored to their specific needs as
travelers. T Galleria by DFS enables travelers to realize their
individual style, one journey at a time.

Discover more at www.tgalleria.com.

Contacts

Melco Crown Entertainment
Louisa Wong, +853-8868-7554
Director,
Public Relations
louisawong@melco-crown.com
or
DFS
Group Limited

Jay Frame, +852-2732-5466
Vice President of
Corporate Communications
jay.frame@dfs.com