[Credit Suisse (Hong Kong) Limited 88th Floor International Commerce Centre 1 Austin Road West Kowloon Hong Kong Deutsche Bank AG, Hong Kong Branch Level 52 International Commerce Centre 1 Austin Road West Kowloon Hong Kong as Joint Sponsors and Borrowing Agents (in alphabetical order) PRIVATE AND CONFIDENTIAL Melco Crown Entertainment Limited 36/F, The Centrium 60 Wyndham Street Central Hong Kong] [EXECUTION VERSION UNDERTAKING AND INDEMNITY AGREEMENT by and among MELCO CROWN ENTERTAINMENT LIMITED and CREDIT SUISSE (HONG KONG) LIMITED DEUTSCHE BANK AG, HONG KONG BRANCH November 28, 2011 THIS UNDERTAKING AND INDEMNITY AGREEMENT Agreement Company Credit Suisse Deutsche Bank Borrowing Agents RECITALS WHEREAS Shares Introduction WHEREAS Controlling Shareholders Securities Lending Agreement Sale and Repurchase Agreement WHEREAS NOW, THEREFORE, ARTICLE I] [SALE AND REPURCHASE AGREEMENT DATED NOVEMBER 28, 2011 MELCO LEISURE AND ENTERTAINMENT GROUP LIMITED as Seller and CREDIT SUISSE (HONG KONG) LIMITED and DEUTSCHE BANK AG, HONG KONG BRANCH as Purchasers Relating to the sale and repurchase of shares in the issued share capital of Melco Crown Entertainment Limited TABLE OF CONTENTS Contents Page 1. INTERPRETATION 1 2. PURCHASE OF] [SECURITIES LENDING AGREEMENT DATED NOVEMBER 28, 2011 MELCO LEISURE AND ENTERTAINMENT GROUP LIMITED and CROWN ASIA INVESTMENTS PTY LTD. as Lenders and CREDIT SUISSE (HONG KONG) LIMITED and DEUTSCHE BANK AG, HONG KONG BRANCH as Borrowers TABLE OF CONTENTS Contents Page 1. INTERPRETATION 2 2. LOANS OF SHARES 5 3. DELIVERY OF SHARES 7 4. RIGHTS AND TITLE 8 5.]

[This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares or other securities of Melco Crown Entertainment Limited (the “ Company ”). Prospective investors should read the listing document dated November 30, 2011 (the “ Listing Document ”), issued by the Company for detailed information about the Company.]

[IMPORTANT If you are in any doubt about any of the contents of this document, you should obtain independent professional advice. Melco Crown Entertainment Melco Crown Entertainment Limited (Incorporated in the Cayman Islands with limited liability) LISTING BY WAY OF INTRODUCTION ON THE MAIN BOARD Stock Code: 6883 Joint Sponsors (in alphabetical order) Company Prior to making an investment decision,] [This announcement is for information purposes only and does not constitute an offer or an invitation by any person to acquire, purchase or subscribe for shares or other securities of Melco Crown Entertainment Limited (the “ Company ”). Prospective investors should read the listing document dated November 30, 2011 (the “ Listing Document ”) issued by the Company for detailed] [(SEHK: 6883) (NASDAQ: MPEL) Melco Crown Entertainment Limited Announces Dual Primary Listing by Highlights: Stock code: • SEHK: 6883 • NASDAQ Global Select Market: MPEL Type of listing: • Dual Primary listing • Listing by introduction on SEHK, no new shares offered Ownership interest: • 1 American Depositary Share (“ADS”) = 3 ordinary shares (“Shares”) Board lot • 300 Shares] [CONVERSION OF SHAREHOLDERS’ LOANS New York, November 29, 2011 The conversion price (the “Conversion Price”), which is US$2.87 per Share, was determined as one-third of the volume weighted average price of the American Depositary Shares (“ADS(s)”) of the Company as quoted on the NASDAQ Global Select Market, over the period of the five business days (being NASDAQ trading days) immediately]