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

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.