Net revenue for Melco Crown for 4Q of 2010 was US$773 million

Adjusted EBITDA was US$134 million for the fourth quarter of 2010, as compared to Adjusted EBITDA of US$3 million of 2009. The year-over-year improvement in net revenue and Adjusted EBITDA resulted primarily from significantly improved operating performance at City of Dreams and Altira Macau.

On a U.S. GAAP basis, Melco Crown Entertainment recorded net income for the fourth quarter of 2010 of US$16 million, or US$0.03 per ADS, compared with a net loss of US$88 million, or a loss of US$0.17 per ADS, in the fourth quarter of 2009.

The improvement in bottom-line results was driven by the year-over-year improvement in the operating performance at City of Dreams and Altira Macau, partially offset by increased depreciation and amortization expense primarily associated with the opening of The House of Dancing Water at City of Dreams and higher net interest expense related to the refinancing of approximately US$600 million of bank debt through the issuance of a high yield bond in May 2010.

Lawrence Ho, Co-Chairman and CEO of Melco Crown Entertainment, commented, "We are pleased to report another solid quarter of operating results, driven by continued improvements in the fundamentals of our business. Our fourth quarter results demonstrate our success in driving operating leverage and in improving the profitability of our portfolio of assets.”