Chinasoft International Limited — M&A Activity 2001

Oct 24, 2001

LASTING LEGEND LTD

(Incorporated in the British Virgin Islands with limited liability)

VOLUNTARY CONDITIONAL CASH OFFER

BY

ANGLO CHINESE CORPORATE FINANCE, LIMITED

ON BEHALF OF

LASTING LEGEND LTD

TO ACQUIRE ALL THE ISSUED SHARES

OF

MELCO INTERNATIONAL DEVELOPMENT LIMITED

(OTHER THAN THOSE ALREADY OWNED BY

LASTING LEGEND LTD OR PARTIES ACTING

IN CONCERT WITH IT)

Financial adviser to Lasting Legend Ltd

˙ The voluntary conditional offer by Anglo Chinese Corporate Finance, Limited on behalf of Lasting Legend Ltd to acquire all the issued shares of Melco International Development Limited (other than those already owned by Lasting Legend Ltd or parties acting in concert with it) (the “Offer”) became unconditional on 23 October, 2001.

˙ The Offer will remain open until 4:00 p.m. on 19 November, 2001. The Offer will close at 9:30 a.m. on 20 November, 2001, unless the Offer is extended or revised.

Reference is made to the Offer Document dated 20 October, 2001. Terms defined in the Offer Document shall have the same meanings when they are used in this announcement unless the context requires otherwise.

‍Conditionality of the Offer

On 22 October, 2001, being the date of the Offer Document, the Offeror and parties acting in concert with it owned 51,419,535 Shares, representing approximately 42.5% of the issued share capital of Melco.

Up to 23 October, 2001, the Offeror has acquired 250,000 Shares (representing 0.21% of the issued share capital of Melco) through the Stock Exchange at HK$1.15 per share.

As at 4:00 p.m. on 23 October, 2001, valid acceptances of the Offer had been received in respect of 10,899,772 Shares, representing approximately 9.0% of the issued share capital of Melco.

As a result, as at 23 October, 2001, the Offeror and parties acting in concert with it owned in aggregate 62,569,307 Shares, representing approximately 51.7% of the issued share capital of Melco.

The Offer is conditional upon valid acceptances of the Offer being received in respect of such number of Shares which, together with the Shares held by the Offeror and parties acting in concert with it represent more than 50% of the Shares carrying voting rights then exercisable at a general meeting of Melco. Accordingly, the Offer has become unconditional on 23 October, 2001.

‍Offer timetable

The Offer will remain open until 4:00 p.m. on 19 November, 2001 and the Offer will close at 9:30 a.m. on 20 November, 2001, unless the Offer is extended or revised.

‍Appointment of directors

Mr. Ho Yau Lung, Lawrence, Mr. Peter So, Mr. Ho Cheuk Yuet, Mr. Frank Tsui and Madam Lucina Laam King Ying will be appointed as executive directors to the board of Melco as soon as practicable after the Offer has become unconditional.

‍Further information

Shareholders of Melco who have lost or have not received the Offer Document or the form of acceptance and transfer should contact Standard Registrars Limited at 5/F, Wing On Centre, 111 Connaught Road Central, Hong Kong or at telephone number 2528 4511 as soon as possible.

By order of the board
Lasting Legend Ltd
Ho Yau Lung, LawrenceDirectorHong Kong, 23 October, 2001

The director of Lasting Legend Ltd accepts full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of his knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and that there are no other facts not contained in this announcement, the omission of which would make any statement herein misleading.

Please also refer to the published version of this announcement in the Hong Kong iMail.