February 27, 2008

At the media spring dinner held by Galaxy Entertainment Group (“Galaxy Entertainment”) (stock code: 0027), Mr. Francis Lui, Vice Chairman of Galaxy Entertainment, expressed delight with the excellent achievements of Galaxy Entertainment in 2007. The Group was happy to have forged international partnerships and stressed that it would focus the effort on the development of the Galaxy Mega Resort in Cotai this year and was confident that the Area One of the project would be able to open in 2009.

Galaxy Entertainment made many breakthroughs in 2007. Its earnings before interest expense, tax, depreciation and amortization (EBITDA) for the first nine months was HK$1,109 million, exceeding the amount for the entire 2006 by 150%. Other than the strong financial results, the Group’s flagship StarWorld Hotel has become the only hotel in Macau to receive the “5-Star Diamond Award” from the world renowned travel and luxury service sector organization - the American Academy of Hospitality Sciences. Galaxy Entertainment was also encouraged by the recognition it had from international investor for its vision, business strategies and outstanding performance. One of the world’s leading private equity firms, Permira acquired an approximate 20% equity stake in Galaxy Entertainment, and the famous Japanese hotel brand, Hotel Okura, has forged a partnership with Galaxy Entertainment in managing, operating and marketing Hotel Okura Macau in the Galaxy Mega Resort.

Vice Chairman of Galaxy Entertainment, Mr. Francis Lui, said, “With the support of our staff, the media and larger community, the Group delivered excellent results. The partnerships with Permira and Hotel Okura have strengthened our confidence in growing to become a leading gaming and entertainment enterprise in Asia. Looking forward, we will continue to identify and invite more international brands in Macau, so as to foster the global appeal of the gaming and entertainment sector of the city.”

In 2008, the Group will continue to actively promote the business of StarWorld Hotel & Casino and City Club Casinos. It will also focus its effort on the development of the Galaxy Mega Resort in Cotai with Area One scheduled to open in 2009. With 2,200 rooms, the project themed the “mystical oasis” promises to give visitors the most innovative travel, gaming and entertainment experiences and set a new benchmark for “Asian hospitality”.

In the past few years, Macau has grown quickly economically and in its infrastructure. The Macau Government expects gaming revenue to reach more than MOP100 billion (USD2.5 billion) by the end of 2010. Mr. Lui, said, “The gaming and entertainment industry in Macau is growing with room for all players to thrive and boom. With casinos and hotel facilities of different styles in the market, customers have more choices. Galaxy Entertainment is confident of the prospects of the gaming and entertainment industry in Macau. However, we believe to send the city on the path of becoming a leading gaming and entertainment center of the world, apart from the industry’s own efforts, the media can contribute by communicating to the world Macau’s remarkable achievements. Galaxy Entertainment is keen on building a close and constructive working relationship with the media and we are thankful for the support of media in the past. We hope our relationship would blossom and become more fruitful.”