Galaxy Entertainment Group Limited — Proxy Solicitation & Information Statement 2007

May 18, 2007

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(incorporated in Hong Kong with limited liability)

(stock code: 0017)

PROXY FORM

Form of proxy for use by shareholders at the extraordinary general meeting to be held at Meeting Room 301B (New Wing), Hong Kong Convention & Exhibition Centre, 1 Expo Drive, Wanchai, Hong Kong on Tuesday, 5 June 2007 at 12: 30 p.m.

I/We (note a)

of being the holder(s) of

(note b) shares of HK$1.00 each of New World Development Company Limited (‘‘Company’’) hereby appoint the Chairman of the extraordinary general meeting (‘‘Meeting’’) of the Company or

of

to act as my/our proxy (note c) at the Meeting to be held at Meeting Room 301B (New Wing), Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wanchai, Hong Kong on Tuesday, 5 June 2007 at 12: 30 p.m. and at any adjournment thereof (as the case may be) and to vote on my/our behalf as directed below.

Please tick (‘‘H’’) the appropriate box to indicate how you wish your vote to be cast on a poll (note d).

ORDINARY RESOLUTION	ORDINARY RESOLUTION		AGAINST
	ORDINARY RESOLUTION	FOR	AGAINST
To consider and approve the acquisition by NWS Financial Management ServicesLimited, an indirect non-wholly-owned subsidiary of the Company, of 246,986,763Taifook Shares pursuant to the terms and conditions of the Share PurchaseAgreement and to authorise the directors of the Company to take all steps necessaryor expedient in their opinion to implement and/or give effect to the terms of the SharePurchase Agreement and all transactions contemplated thereunder and all othermatters incidental thereto or in connection therewith.	To consider and approve the acquisition by NWS Financial Management ServicesLimited, an indirect non-wholly-owned subsidiary of the Company, of 246,986,763Taifook Shares pursuant to the terms and conditions of the Share PurchaseAgreement and to authorise the directors of the Company to take all steps necessaryor expedient in their opinion to implement and/or give effect to the terms of the SharePurchase Agreement and all transactions contemplated thereunder and all othermatters incidental thereto or in connection therewith.

Dated the day of , 2007 Shareholder’s signature X X (notes e, f, g and h)

Notes:

• a. Full name(s) and address(es) are to be inserted in BLOCK CAPITALS.

• b. Please insert the number of shares registered in your name(s). If no number is inserted, this form of proxy will be deemed to relate to all the shares in the capital of the Company registered in your name(s).

• c. A proxy need not be a member of the Company. If you wish to appoint some person other than the Chairman of the Meeting as your proxy, please delete the words ‘‘the Chairman of the extraordinary general meeting (‘‘Meeting’’) of the Company or’’ and insert the name and address of the person appointed proxy in the space provided.

• d. If you wish to vote for any of the resolution set out above, please tick (‘‘H’’) the box marked ‘‘For’’. If you wish to vote against the resolution, please tick (‘‘H’’) the box marked ‘‘Against’’. If the form returned is duly signed but without specific direction on the proposed resolution, the proxy will vote or abstain at his discretion in respect of the resolution. A proxy will also be entitled to vote at his discretion on any resolution properly put to the Meeting other than that set out in the notice convening the Meeting.

• e. In the case of a joint holding, this form of proxy may be signed by any joint holder, but if more than one joint holder is present at the Meeting, whether in person or by proxy, that one of the joint holders whose name stands first on the register of members in respect of the relevant joint holding shall alone be entitled to vote in respect thereof.

• f. The form of proxy must be signed by a shareholder, or his attorney duly authorised in writing, or if the shareholder is a corporation, either under its Common Seal or under the hand of an officer or attorney so authorised.

• g. To be valid, this form of proxy together with any power of attorney or other authority (if any) under which it is signed or a notarially certified copy of such power or authority must be deposited at the registered office of the Company at 30th Floor, New World Tower, 18 Queen’s Road Central, Hong Kong not later than 48 hours before the time of the Meeting or any adjournment thereof (as the case may be).

• h. Any alteration made to this form should be initialled by the person who signs the form.