Orlando, Fla., January 22, 2007 - Hard Rock International and Melco Hotels and Resorts Limited (Macau), a subsidiary of Melco PBL Entertainment (Macau) Limited ("Melco PBL Entertainment"), have signed definitive agreements for the development of Hard Rock Hotel and Casino Macau at the City of Dreams Casino and Entertainment Resort Complex, currently under construction in Macau, a special administrative region of China, on the Cotai Strip.

Melco PBL Entertainment, which is a NASDAQ-listed company, is developing the City of Dreams to be a "must-see" integrated casino and entertainment resort. The City of Dreams development is planned to feature an underwater-themed casino and four luxurious hotels, including Hard Rock Hotel, Grand Hyatt, Hyatt Regency and the Crown Towers, among other features. The development is planned to open in two phases, with the first phase (which is planned to include the Hard Rock Hotel and Casino Macau), expected to be opened late 2008.

"We are delighted with the prospective opening of Hard Rock Hotel and Casino Macau in the City of Dreams Resort and also to work closely with Melco PBL Entertainment," said Hamish Dodds, President and CEO, Hard Rock International. "Macau is the entertainment gateway to Asia and one of the world's premier gaming destinations, and Hard Rock Hotel and Casino Macau will be among its most unique properties. This development will chart the path for many more exciting Hard Rock leisure developments in Asia and a great new strategic relationship with Melco PBL Entertainment."

The high-energy Hard Rock property will be the first Hard Rock Hotel and Casino in Asia and will feature a state-of-the-art Hard Rock Casino with a mix of table games and slot devices; an approximately 380-room Hard Rock Hotel with guest rooms and suites designed by leading-edge Hard Rock designers, plus two custom "Rock Star" mega-suites; a Hard Rock Cafe offering Hard Rock's updated menu, as well as a designated area for live music and a Rock Shop featuring Hard Rock's traditional and new rock-star designed and inspired merchandise; a VIP roof-top nightclub with direct elevator service and the best nighttime views of Macau; a stylish casual dining restaurant offering round-the-clock service with Hard Rock accents; a stimulating health and fitness center complete with Hard Rock's relaxing spa treatment rooms; a variety of uniquely designed meeting spaces; and an expansive pool and entertainment deck featuring Hard Rock's custom cabanas and underwater music experiences.

Macau is already positioned as one of the world's largest gaming markets, with annual gaming revenue topping $5 billion, on par with the Las Vegas Strip. Melco PBL Entertainment currently has two properties under construction including the City of Dreams.

Hard Rock Hotel and Casino Macau will join existing Hard Rock branded hotel and casino properties in Las Vegas, Nevada; Hollywood, Florida; and Tampa, Florida; and Hard Rock Hotel and Casino Biloxi, Mississippi, which is scheduled to open in late Summer 2007. In addition, it will become part of the fast growing network of Hard Rock Hotels, including Chicago, Illinois; Orlando, Florida; Bali, Indonesia; and Pattaya, Thailand; and projects under development in San Diego, California; Palm Springs, California; and Copper Mountain, Colorado; among other exciting global destinations.

About Hard Rock International
With 123 high-energy Hard Rock Cafes, seven Hotel & Casinos (excluding those under construction) and one stand-alone Casino in 45 countries, Hard Rock International is one of the world's most globally-recognized brands. Beginning with an Eric Clapton guitar, Hard Rock owns the world's greatest collection of music memorabilia, which is displayed at its locations around the globe. Hard Rock is also known for its collectible fashion and music-related merchandise, Hard Rock Live performance venues and an award-winning website. Hard Rock International, Inc. is owned by The Rank Group Plc (RNK.L). For more information on Hard Rock, visit www.hardrock.com.

About Melco PBL Entertainment (Macau) Limited
Melco PBL Entertainment is a developer, owner and through its wholly-owned subsidiary, Melco PBL Gaming (Macau) Limited (the "MPBL Gaming"), an operator of casino gaming and entertainment casino resort facilities focused exclusively on the rapidly expanding Macau market. MPBL Gaming is one of six companies granted concessions or subconcessions to operate casinos in Macau. Melco PBL Entertainment's development projects include the Crown Macau, which is targeted to open in the second quarter of 2007, and the City of Dreams, the first phase of which is targeted to open in late 2008. Its existing projects include the Mocha Clubs, which feature a total of approximately 1,000 gaming machines in six locations and comprise the largest non-casino based operations of electronic gaming machines in Macau. Melco PBL Entertainment has also entered into an agreement, subject to certain conditions, to acquire a third development site on the Macau peninsula. For more information about Melco PBL Entertainment, please visit www.melco-pbl.com.

Melco PBL Entertainment has strong support from both of its founding shareholders, Melco International Development Limited ("Melco") and Publishing & Broadcasting Limited ("PBL"). Melco is a listed company on the Hong Kong Stock Exchange and is substantially owned by Mr. Lawrence Ho, who is also a Co-Chairman and CEO of Melco PBL Entertainment. PBL is a top-20 company listed on the Australian Stock Exchange and led by Executive Chairman James Packer, who is also a Co-Chairman of Melco PBL Entertainment.