February 23, 2009

Tonight, Galaxy Entertainment Group (“GEG”) hosted its annual media gala at StarWorld Hotel. In his welcoming speech, Mr. Francis Lui, Vice Chairman of GEG indicates that this year‟s 10th anniversary of the Macau SAR and the 60th anniversary of the People‟s Republic of China are two important events that will propel Macau‟s development. GEG remains confident about the future of Macau‟s gaming industry. With its strong financial position, the Group will continue to capture market opportunities, expand its business, and support Macau in becoming a leading tourism destination.

Mr. Lui expresses that “2009 is a significant year for Macau and China. The 10th anniversary of the Macau Special Administrative Region marks the successful implementation of “One Country, Two Systems; Macau people governing Macau” policy. The success is also the pride of all Macau citizens. This year, a new Chief Executive and Legislative Assembly will be elected into office to lead Macau into new era. 2009 also commemorates the 60th anniversary of the formation of the People‟s Republic of China. The entire nation, including Macau, will organize a series of events to celebrate the achievements of the country. In over half-a-century, China has become a world leader and is exercising increasing influence in international affairs. I believe these important events will become a strong catalyst to propel Macau‟s development. ”

Mr. Lui also states that “GEG is confident about the future of Macau‟s gaming industry. Our Group has decided to postpone the opening of the Galaxy Macau resort in Cotai from mid-2009 to 2010 due to the financial tsunami. Nonetheless, the construction of the resort continues to move forward. The Group will announce a new opening date for Galaxy Macau once market conditions recover, and we are confident that Galaxy Macau will become the choice of Macau travelers, assisting Macau in its efforts to become a leading tourism destination.”

In his speech, Mr. Lui asserts that “ GEG is in a strong financial position. Although the Group recently repurchased HK$1.3 billion face value of fixed and floating-rate notes, we are well capitalized with more than HK$5 billion in cash on hand, which enables us to complete constructions of Galaxy Macau at any time. In midst of the challenging market conditions, we have not reduced our market share. On the contrary, the Group has recorded a 30% market share growth.”

In addition, Mr. Lui points out that, “StarWorld Hotel remains our primary business focus. Against the increasingly competitive market environment, StarWorld continues to evolve and triumph, garnering industry-wide recognitions. Following the prestigious 2007 „Five Star Diamond Award‟, StarWorld was named „China Top 100 Hotels 2008‟, „China Top 100 Hotels‟, „China Top 10 Business Hotels‟ and most recently, it received the „Best Casino Interior Design Award from International Gaming Awards in January this year.

”On top of developing our business, GEG strongly supports the Macau Government‟s policies. Despite the financial tsunami in 2008, GEG continued to sponsor the Macau Government in the organization of the Macau FIVB World Grand Prix and the Macau Galaxy Entertainment International Marathon respectively for the forth and fifth consecutive years. In addition, the Group also made donations in response to last year‟s Sichuan earthquake and devastating snowstorms that affected millions of people on the Mainland. Moving forward, GEG will continue to repatriate to the community.”