[EXPLANATORY NOTE MCE Finance Limited’s Quarterly Report for the Three and Six Months Ended June 30, 2014 MCE Finance Limited Report for the Second Quarter of 2014 TABLE OF CONTENTS INTRODUCTION 1 3 GLOSSARY 4 EXCHANGE RATE INFORMATION 6 FINANCIAL CONDITION AND RESULTS OF OPERATIONS 7 INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS F-1 INTRODUCTION In this quarterly report, unless] [EXPLANATORY NOTE Studio City Finance Limited’s Quarterly Report for the Three and Six Months Ended June 30, 2014 Studio City Finance Limited Report for the Second Quarter of 2014 TABLE OF CONTENTS INTRODUCTION 1 3 EXCHANGE RATE INFORMATION 4 FINANCIAL CONDITION AND RESULTS OF OPERATIONS 5 INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS F-1 INTRODUCTION In this quarterly report, unless] [Form 6–K TABLE OF CONTENTS]

[(Incorporated in the Cayman Islands with Limited Liability) (SEHK Stock Code: 6883) GRANT OF SHARE OPTIONS AND RESTRICTED SHARES Board Company Share Options Shares 2011 Share Incentive Plan The board of directors (the “ (i) Share Options Date of grant August 28, 2014 Exercise price US$9.6554 per Share Number of underlying Shares involved 33,993 Closing price of the Shares on] [Form 6–K TABLE OF CONTENTS MELCO CROWN ENTERTAINMENT LIMITED]