Chinasoft International Limited — M&A Activity 2001

Oct 22, 2001

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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 offer document relating to the voluntary conditional cash offer made by Anglo Chinese Corporate Finance, Limited on behalf of Lasting Legend Ltd for all the issued shares of Melco, other than the Shares already owned by Lasting Legend Ltd or parties acting in concert with it, together with the form of acceptance and transfer, will be posted to the shareholders of Melco International Development Limited on 20 October, 2001.

Capitalised terms used in this announcement shall have the same meanings as defined in the Offer Document dated 20 October, 2001.

Reference is made to the announcement dated 16 October, 2001 in relation to the Offer. The Offeror has received an irrevocable undertaking from Shun Tak Shipping Co Ltd., Dr. Stanley Ho and Madam Lucina Laam King Ying not to accept the Offer in respect of an aggregate of 36,219,535 Shares, representing 29.9% of the existing issued share capital of the Company. The Offer is made following the acquisition by the Offeror of 15,200,000 Shares, representing 12.6% of the existing issued share capital of Melco, from Ms. Daisy Ho and Ms. Pansy Ho on 12 October, 2001 at HK$1.15 per Share. Accordingly the Offer is being made for 69,667,599 Shares, representing approximately 57.5% of the existing issued share capital of Melco.

‍POSTING OF OFFER DOCUMENT

The Director of the Offeror announces that the Offer Document containing details of the Offer, together with the form of acceptance and transfer, will be despatched to the Shareholders of Melco on 20 October, 2001. The latest time for acceptance of the Offer will be 4:00 p.m. on Monday, 19 November, 2001. The Offer will be closed at 9:30 a.m. on 20 November, 2001 unless revised or extended by the Offeror in accordance with the Takeovers Code. Acceptances received after 4:00 p.m. on 19 November, 2001 will only be valid if the Offer is revised or extended before 9:30 a.m. on 20 November, 2001.

The shareholders of Melco are advised to read carefully the Offeree Document, which should contain, inter alia, the recommendation of the independent board committee of Melco and the advice of the independent financial adviser to the independent board committee, before making a decision in respect of the Offer. The Offeree Document is expected to be despatched on or before 3 November, 2001.

By order of the board of
Lasting Legend Ltd
Ho Yau Lung, LawrenceDirectorHong Kong, 20 October, 2001

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