Playboy and Macao Studio City to open "Playboy Mansion Macao"

Named Playboy Mansion Macao, the approximate 3,716 sqm entertainment destination will consist of numerous nightlife and entertainment options, dining, specialty retail elements and a Hugh M. Hefner Villa, which will be a part of the Macao Studio City complex that broke ground earlier this year.

Expected to open in late 2009, Playboy Mansion Macao will further strengthen MSC's wide spectrum of partnerships in retail and entertainment to provide a unique Asian experience to visitors from around the world and will extend Playboy's location-based entertainment business.

“We are very excited about this partnership. Playboy has chosen to locate the Playboy Mansion here in Macao, one of the fastest growing tourist destinations in the world. And we are very proud that Playboy shares with us our ambition to create a must-see and must-stay destination that we strongly believe will redefine resort

entertainment in Macao,” said Peter Lam, Co-Chairman of Macao Studio City.

“Our partnership with Playboy is a re-affirmation of our commitment to bring to Macao the very best in entertainment and retail,” said David Friedman, Co-Chairman and Co-Chief Executive Officer of Macao Studio City. “We aim to make Macao the entertainment hub of Asia, and Macao Studio City the entertainment centre of Macao. Playboy is a world-renowned entertainment and lifestyle brand and the Playboy Mansion Macao is where the stars will be. Visitors to Macao Studio City will be able to play and stay like a star.”

Playboy Mansion Macao will be designed as a modern expression of the Playboy lifestyle with local flavor by the visionary international design team of Studio Gaia. Playboy Mansion Macao will offer gaming as an extension of the gaming area of the complex, and will feature a contemporary interpretation of the famed Playboy pool and grotto and offer the ultimate overnight accommodations in the Hugh M. Hefner

Villa.

Playboy Mansion Macao's ambiance of a luxurious private residence pays homage to the legendary home of Hugh M. Hefner, Founder and Chief Creative Officer of PEI, who said, "With the tremendous success of the Playboy Club Casino at the Palms Hotel in Las Vegas which opened in October 2006, we are extremely pleased to extend our location-based entertainment to Asia, where our brand has been

strong for years. Playboy-branded products debuted almost 20 years ago in China and there are Playboy concept stores in Bangkok, Hong Kong, Kuala Lumpur and Tokyo. We knew Macao made sense for the brand as an entertainment destination and were searching for the right partner, which we found in Macao Studio City."

"As Macao evolves into one of the world's top tourist destinations, Playboy Mansion Macao will add a new dimension of experience to the territory,” added Ambrose Cheung, Co-CEO of Macao Studio City. “Playboy Mansion Macao will help to draw visitors around the region to Macao as the club is truly one-of-a-kind in Asia. Nightlife in Macao will never be the same again; Macao Studio City in

partnership with Playboy will set new benchmarks in entertainment and luxury.”

“The Playboy brand is known around the world as representing "the good life", and we look forward to bringing the brand to life in Macao. Macao has vast growing power as a travel destination, with the number of visitors expected to double between 2006 and 2011,” said Christie Hefner, Chairman and CEO of PEI. “Macao's enormous growth potential along with the extensive entertainment, hospitality and gaming industry experience of our partners make this deal an attractive strategic move for the company.”

Macao Studio City will be developed on an approximately 13.3-hectare site strategically located “Where Cotai Begins”, next to the new Lotus Bridge immigration checkpoint, linking the complex directly to Zhuhai's Hengqin Island. When completed, Macao Studio City will boast some of the most comprehensive entertainment and retail facilities of any single property in Macao, as well as a 92,903 sqm Studio Retail complex called The Mall at Studio City - created in partnership with Taubman Centers.