Melco Invests in the Internet

November 15th, 1999

Press Release

Melco International Development Limited announced today it has taken a 7.5% stake in asia-hotels.com, one of Asia's specialist internet travel services. The investment is Melco's first in an internet travel site and enhances Melco's interests in the leisure and tourism sector.

Commenting on Melco's investment in asia-hotels.com, Pansy Ho, Director and Chief Executive Officer of Melco said, " The synergy in Shun Tak and Melco's tourism interests presents exciting ideas for development. We believe our investment in asia-hotels.com will help advance our interests in the region.

Launched in June 1997, asia-hotels.com is a simple and efficient internet hotel guide and reservation system featuring hotels/resorts in 17 countries across Asia. The site offers comprehensive and up to date information on each property including photographs, descriptions of facilities and negotiated discounted prices as well as independent and customer reviews. Supported by Asian travel specialists, asia-hotels.com provides business and leisure travellers with a simple internet reservation facility and expert travel advice.

"We very much welcome Melco's support of asia-hotels.com," commented Jon Stonham, Managing Director of asia-hotels.com. "The market for internet hotel bookings in Asia is expected to grow to US$5.4 billion by 2005 and we aim to position ourselves to take advantage of the increasing acceptance of electronic commerce."