Melco Crown Entertainment announces 2015 stock repurchase program

Under the 2015 stock repurchase program, the Company is authorized to carry out on-market repurchases of up to an aggregate of US$500 million of their trading value from May 20, 2015 to the conclusion of the next annual general meeting of the Company in 2016 or the revocation or variation of such 2015 share repurchase mandates by shareholders of the Company in general meeting.

Under the stock repurchase program, the Company is authorized to repurchase, from time-to-time, shares of its outstanding common stock in the open market. The timing and amount of share repurchases will be determined by the Company's management team based upon its evaluation of market conditions and other factors. The stock repurchase program may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its common stock under the program. The Company intends to make all repurchases and to administer the plan in accordance with applicable United States, Cayman Islands and Hong Kong laws, the memorandum and articles of association of the Company and regulatory guidelines, including, without limitation, Rule 10b-18 of the Securities Exchange Act of 1934, as amended, from time to time.