Press Statement

HONG KONG, Oct. 05, 2016 (GLOBE NEWSWIRE) -- The multinational consortium consisting of the companies Melco International Development Limited ("Melco") (HKEx Code:200), Seminole HR Holdings LLC ("Hard Rock") and Cyprus Phasouri (Zakaki) Limited, a member of CNS Group, today submitted its detailed proposal for the creation of an entertainment destination in the Republic of Cyprus to the Ministry of Energy, Commerce, Industry and Tourism in response to the final phase of the tender process of licensing a single integrated casino resort in Cyprus launched by the government.

Capitalising on Melco's unique experience in creating the most spectacular integrated resorts in Asia, as well as Hard Rock's proven track record of delivering differentiated hospitality driven experiences across the globe, the consortium looks forward to collaborating with the Cyprus Government to establish a world class integrated casino resort that will be beneficial to the economy and tourism of Cyprus.

About Melco International Development Limited
Founded in 1910 and listed on the Hong Kong Stock Exchange (HKEx) since 1927, Melco International Development Limited ("Melco" or the "Company") is a company with a long history and a promising future. Today, under the leadership of Chairman and Chief Executive Officer, Mr. Lawrence Ho, Melco is a world leader in the leisure and entertainment sector with operations in China, Philippines, Cambodia, and Russia. Via its gaming arms, Melco Crown Entertainment, Melco Crown Philippines, and Summit Ascent, the Company owns and operates properties under the "City of Dreams", "Studio City", "Altira", and "Tigre de Cristal" brands, which include over 4,500 hotel rooms and employ over 20,000 team members while generating US$4 billion in revenues (FY2015). Melco's properties also garnered eight (8) Forbes 5-Star awards (2016) and five (5) Michelin stars (2015) with its world-class amenities and restaurants. As a pioneering innovator that sets new standards in both gaming and non-gaming offerings, Melco has established strong and effective partnerships with global entertainment brands and top creative minds including Franco Dragone's "The House of Dancing Water", the world's largest water-based extravaganza hosted at City of Dreams in Macau. Well recognized as a supporter of local governments in tourism and economic diversification, Melco has been honored with the "ICON on Corporate Governance" by Corporate Governance Asia magazine for the tenth year in 2015. For more information about Melco, please visit www.melco-group.com.

About Hard Rock International 
With venues in 71 countries, including 168 cafes, 23 hotels and 11 casinos, Hard Rock International (HRI) is one of the most globally recognized companies. Beginning with an Eric Clapton guitar, Hard Rock owns the world's greatest collection of music memorabilia, which is displayed at its locations around the globe. Hard Rock is also known for its collectible fashion and music-related merchandise, Hard Rock Live performance venues and an award-winning website. HRI owns the global trademark for all Hard Rock brands. The company owns, operates and franchises Cafes in iconic cities including London, New York, San Francisco, Sydney and Dubai. HRI also owns, licenses and/or manages hotel/casino properties worldwide. Destinations include the company's two most successful Hotel and Casino properties in Tampa and Hollywood, Fl., both owned and operated by HRI parent company The Seminole Tribe of Florida, as well as other exciting locations including Bali, Chicago, Cancun, Ibiza, Las Vegas, Macau and San Diego. Upcoming new Hard Rock Cafe locations include Reykjavik, Shanghai, Yangon and San Juan. New Hard Rock Hotel projects include Abu Dhabi, Atlanta, Berlin, Dubai, Itapema, London, Los Cabos, New York City, Tenerife, and Shenzhen, Dalian and Haikou in China. For more information on Hard Rock International, visit www.hardrock.com.

About Cyprus Phasouri (Zakaki) Limited
Cyprus Phasouri (Zakaki) Limited ("CPZL"), is a member of the CNS Group which, amongst others, conducts different businesses including real estate, telecommunications, dairy, large scale farming and export and mining in Cyprus.