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For Immediate Release COTAI Reveals Design Vision of an Architectural Icon Opening in 2017 The striking jewelry box design draws inspiration from local culture and modern design [Macau, December 15, 2016] As COTAI s exterior façade nears completion, today reveals the vision behind the design and some of the spectacular engineering feats involved in the development ahead of the resort s opening in 2017. The jewelry box design In 2011, set out with a vision to develop an integrated resort in Cotai that would support the development of Macau as an international tourism destination. The initial plan for COTAI was to build an architecturally compelling pair of towers inspired by the local culture. Beginning with the recognizable three-tiered form of the MACAU tower, the stacked boxes of each tower have been shuffled and cantilevered to create a single modern sculptural form. Through the creative use of immaculate Chinese decorative imagery for the façade expression, the abstract composition effortlessly brings to life a grand and vibrant representation of Chinese jewelry boxes, s recognizable gold tones and extraordinary architecture in Macau. A team of more than 350 architects, designers and consultants came together to create an integrated resort like no other in the world, COTAI is expected to open in the second quarter of 2017. Mr. Jim Murren, Chairperson and Executive Director of China Holdings Limited says, COTAI is already emerging as an architectural icon and the talented designers who have helped us create it are making a great contribution to Macau. Our Company is synonymous with entertainment and the resort s diverse offerings and design elements, like treasured jewels in a jewelry box, complement each other yet follow a central concept of class, quality, and excitement, creating extraordinary experiences for our guests. Mr. Ken Rosevear, President of Resorts Development LLC and Non-Executive Director of China Holdings Limited, adds, "Desiring a unique and iconic design for COTAI, we initiated a competition between internationally recognized architectural firms with experience in designing extraordinary resort projects. KPF was appointed when they proposed a design that not only resonated with our existing

property, but took it to a new level of excitement and visual excellence thereby maintaining the tradition of unique iconic structures that is known for. From the outset, we wanted to design a structure that would really stand out on the skyline, says Mr. John Bushell, Design Principal at Kohn Pedersen Fox (KPF), the New York and London based Design Architect firm appointed for this project and recognized for the excellence and innovation of its buildings around the world, including award-winning Shanghai World Financial Center and Hong Kong s tallest building, the International Commerce Centre. We wanted to build something of the highest architectural quality that is also a place for people to have fun! By utilizing a composition of similar elements and openings in-between the building, we created a mountain landscape-like structure that allows a variety of interpretations. The outside is striking both in daylight and at night, with lots of dramatic spatial experiences within. The two different hotels and an exclusive Mansion all form part of a single distinctive unified composition. COTAI offers exceptional architectural experience at night. On the exterior, a subtle, and unique light design shines with gold, bronze and silver undertones which the brand is known for in its architecture in Macau. To achieve this effect, developed an integrated lighting system across all four elevation of the towers where roughly 60,000 LED fixtures have been placed to wash the surface of the projecting feature fins, creating a beautiful glimmer. Mr. Hunter Clayton, Executive Vice President of Resorts Development LLC says, The architectural complexity is highlighted by the outward look and feel of the building in a profound but graceful manner. Our General Contractor, China State Construction has done a beautiful job in bringing the design to life. From any given angle, the intricate layering, colors, shapes and sizes of the tri-colored stacked jewelry boxes seep with sophistication. An engineering feat - The Spectacle structure COTAI s epicenter of entertainment lies in the dynamic world of the Spectacle, an innovative, multidimensional sensory experience designed to thrill and excite visitors as they shop and stroll in the heart of the complex, which connects COTAI s main lobby directly to shops and restaurants. Towering above the extraordinary Spectacle experience is a meticulously engineered column-free long-span diagrid structure as long as a soccer field, where the form of the roof has peaks and valleys that allow it to support its own weight. Building the Spectacle roof was a feat of its own, where a forest of temporary columns, like trees, were first rooted to install digitally-engineered custom nodes which were then interconnected with angular steel to complete the framework. The columns were then removed, revealing a ceiling structure that forms a subtle wave in the sky. The Spectacle was designed to extend over the nearby restaurants and retail outlets, demonstrating the attentiveness of design experts to deliver an immersive and diverse experience that emanates effortless continuity. COTAI At more than four million square feet, COTAI will offer over approximately 1,400 rooms with diverse offerings ranging from Asia s first dynamic theater, the Spectacle, as well as innovative culinary, retail, and family-friendly offerings for international visitors and locals alike. Set to be the new landmark for Cotai, COTAI embodies the collective efforts of architecture and design industry experts, collaborating to offer

infinite layers of creativity across every square meter of the building. COTAI is the largest property and the first private sector project ever to achieve the China Green Building (Macau) Design Label Certification. Photo Captions: 01. The exterior façade of COTAI - an architectural icon in the striking jewelry box design which draws inspiration from local culture and modern design. ### Photos taken by Nuno Assis (https://www.instagram.com/nunoassis) 02. The Spectacle is an innovative and multi-dimensional sensory experience designed to thrill and excite visitors. (Left to right: The Spectacle roof exterior; the Spectacle roof interior) Photos taken by Nuno Assis (https://www.instagram.com/nunoassis) 03. An original design drawing by KPF showcasing the initial design concept of COTAI. Please download high-resolution photos at https://edelmanftp.boxcn.net/s/37xqly93xmv5g8mop6ku5nmhmxxi2ru0

COTAI s architecture and design partners include: Kohn Pedersen Fox Design Architects Hirsch Bedner Associates Mansion Interiors Friedmutter Casino and Restaurant (1) Rockwell Retail Promenade and Restaurant (1) Burega Farnell Lofts, Suites, and Rooms AB Concepts Spa Business Center and Ballrooms Jeffrey Beers Restaurant (2) Silverfox Restaurants (2) Westar Mlife and Bars Chanda Sembada Restaurant (1) JBA Consulting Engineers Mechanical, Electrical, Plumbing Engineers Siu Yin Wai Structural Engineers ARUP Structural Engineers Spectacle Concept Eddie Wong & Associates Executive Architect Wong & Tung International Limited Architect of Record Rockwell Group Spectacle Design Sceno Plus Theater Design About COTAI Expected to open in second quarter of 2017, COTAI is the latest addition to the portfolio in China. Designed as the jewelry box of Cotai, it plans to offer approximately 1,400 hotel rooms and suites, meeting space, high end spa, retail offerings and food and beverage outlets as well as the first international Mansion at for the ultimate luxury experience. COTAI will offer Asia s first dynamic theater and a spectacle to wow every guest who steps foot in the resort. COTAI is being developed to drive greater product diversification and bring more advanced and innovative forms of entertainment to Macau as it grows as a global tourist destination. COTAI is the largest property and the first private sector project ever to achieve the China Green Building (Macau) Design Label Certification. About is an abbreviation for China Holdings Limited (HKEx: 2282) and is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of Grand Paradise, SA which holds one of the six gaming concessions/subconcessions to run casino games in Macau. Grand Paradise, SA owns and operates MACAU, the award-winning premium integrated resort located on the Macau Peninsula and is developing a second resort, COTAI which is expected to more than double our presence in Macau. MACAU is a Forbes Five-Star luxury integrated resort inspired by the arts with every element of the resort infused with creativity and style. MACAU has approximately 600 guest rooms and suites and boasts a number of distinguishing features, including the architecturally stunning European-inspired Grande Praça, housed under a soaring glass ceiling. MACAU s world class facilities include the Art Space, dedicating over 5,000 square feet to display authentic works of art, conference and event facilities, spa, and seven signature restaurants and bars to fulfill any gastronomic craving. Our property is conveniently located on prime waterfront on the Macau Peninsula and is directly connected to the luxury retail shopping complex, One Central.

China Holdings Limited is majority owned by Resorts International (NYSE: ) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, Grand, Mandalay Bay and The Mirage. For media enquiries, please contact: Irene Wong Vice President of Public & Community Relations Tel: (853) 8802 2822 Email: irenewong@mgm.mo Karen Lam Juliana Kung Public Relations Manager Public Relations Manager Tel: (853) 8802 3801 Tel: (853) 8802 3803 Email: karenlam@mgm.mo Email: julianakung@mgm.mo