Jade Dragon is the only new Cantonese restaurant in Macau on the list

MACAU - Following the unveiling of the list of restaurants in the "Michelin Guide to Hong Kong & Macau 2014", City of Dreams' Chinese culinary masterpiece, Jade Dragon was awarded with its first one Michelin star.  Only 11 restaurants in Macau have been awarded with Michelin stars and 3 restaurants were newly added to the list.  Jade Dragon is the only new Cantonese restaurant in Macau added to the list.  In conjunction with The Tasting Room that continued to sparkle with one Michelin star for the second consecutive year in 2014, City of Dreams  shines with the most Michelin restaurants at Cotai in 2014.

"Shortly after The Tasting Room's Michelin achievement in its first year of operation last year, we are proud that Jade Dragon has also been awarded Michelin star in its first year of operation as well," said Mr. Kristoffer Luczak, Vice President of Food and Beverage, Melco Crown Entertainment Limited.  "We believe that this is no coincidence but an accomplishment of the continued pursuit of dedication, passion and excellence of our dream team.  These accolades symbolize a new chapter in Cotai dining, shaping City of Dreams as the 'must-go' place for the finest Chinese and Western cuisine."

Jade Dragon showcases exquisite Cantonese specialties and innovative modern presentations by Chef Tam Kwok Fung and his team.  Jade Dragon delights gourmet with delectable Chinese delicacies and superlative personalized services that set the benchmark for fine dining in Macau.   

"We source the best ingredients from all around the world to create dishes using traditional methods and technique of the Chinese cuisine.  The taste is uniquely traditional and Chinese, yet, it is elevated to another level in regards to sophistication." said Chef Tam Kwok Fung, Executive Chinese Chef at City of Dreams.

With over 30 years of experience in Cantonese fine dining spanning across China, Hong Kong and Thailand, Chef Tam routinely prepared a variety of traditional and contemporary Cantonese dishes for world leaders, the royal families of Thailand, Japan and Nepal, and a host of politicians and presidents.  Prior to Jade Dragon's two Michelin stars, Chef Tam previously launched internationally acclaimed Chinese restaurant Ying at Altira Macau, attaining a one-Michelin star rating in the "Michelin Guide Hong Kong & Macau 2009".

The "Michelin Guide Hong Kong & Macau 2014" awarded 73 establishments in Hong Kong and Macau with one or more Michelin stars. Michelin has defined five criteria for awarding stars: quality of products, the mastering of flavors, mastering of cooking, personality of the cuisine, value for the money and consistency of what the restaurant offers to its customers both throughout the menu and the year.

On the same day, Jade Dragon and The Tasting Room ranked 6th and 7th respectively in the Top 20 Best Restaurants list in the 2014 edition of Hong Kong Tatler Best Restaurants guide.  There are five excellent additions to the list and Jade Dragon ranked highest among the new additions.

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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 and the Philippines, (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 press release 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 and owner 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 is also developing the planned Studio City Project, 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, has been cooperating with SM Group's Belle Corporation to develop and operate City of Dreams Manila, 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 has strong support from both of its major shareholders, Melco International Development Limited ("Melco") and Crown Resorts 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.

About City of Dreams

City of Dreams is developed by Melco Crown Entertainment Limited, an entertainment company listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") (SEHK: 6883) and 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; and Dragon's Treasure, an iconic and spectacular audio visual multimedia experience. '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. Melco Crown Entertainment is moving forward with the development of the fifth hotel tower at the City of Dreams. Construction of this iconic tower is expected to commence by the end of 2013. 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) and www.thehouseofdancingwatermedia.com  (Media Portal).

For media inquiries, please contact:

City of Dreams

Maggie Ma

Head of Corporate Communications

Tel: +852 3151 3767 / +853 8868 3767

Email: maggiema@melco-crown.com

Jessie Kuan

Senior Manager, Public Relations

Tel: +853 8868 7556/ +853 6693 8047

Email: jessiekuan@melco-crown.com