Macau Legend to Develop Resort, Casino in Cape Verde

Macau Legend Development Limited

, one of the leading owners of entertainment and casino gaming facilities in Macau, today announces that MLD Cabo Verde Resorts, S.A. ("CV Resorts Co") and MLD Cabo Verde Entretenimento, S.A. ("CV Entertainment Co"), both wholly-owned subsidiaries of the Company, have entered into several agreements (the "Agreements") with, among others, the Government of the Republic of Cape Verde to develop a 152,700 square-meters integrated resort and gaming facility complex (the "Project"). The project is located at a 119,200 square-meters land and sea areas and a 33,500 square-meters beach area at Praia, the capital city of Cape Verde, on Santiago Island. The land concession for the Project is 75 years. The Agreements also include the granting of a gaming concession to CV Entertainment Co for operation of casino games of fortune and chance in Cape Verde. Under the Agreements, CV Resorts Co will invest not less than EUR250 million (approximately HK$2.15 billion) to construct an integrated