Melco 60%-Owned JV Studio City Remains on Track to Open as Scheduled on October 27, 2015

Studio City International Holdings Limited, a joint venture in which Melco Crown Entertainment Limited

owns a 60% interest issued the following press release today: Studio City International Holdings Limited announced today that the cinematic-inspired entertainment resort Studio City remains on track to open as scheduled on October 27, 2015. Because of the possibility that the table allocation for Studio City's gaming area may be lower than anticipated, Studio City International Holdings Limited has engaged Kirkland & Ellis LLP as its counsel and Moelis & Company LLC as its investment banker to assist it with contingency planning ahead of any table allocation decision for Studio City. Safe Harbor Statement This release 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