Melco Crown (MPEL) Approves $500M Buyback Plan

Melco Crown Ent. (Nasdaq: MPEL) announced that its Board of Directors has authorized a program to carry out on-market repurchases of up to an aggregate of US$500 million of their trading value until the expiry of the Company's current share repurchase mandate granted to the Board of Directors at the Company's annual general meeting held on May 21, 2014 upon conclusion of the next annual general meeting of the Company in 2015 or the revocation or variation of such mandate 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, Hong Kong and Cayman Islands 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, and the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, from time to time.

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