Macau Legend Development : Change in Directors or of Important Executive Functions or Responsibiities

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Macau Legend Development Limited 澳門勵駿創建有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1680)

APPOINTMENT OF ALTERNATE DIRECTOR

The board of directors ("Board") of Macau Legend Development Limited (the "Company", together with its subsidiaries, the "Group") is pleased to announce the appointment of Mr Chow Kam Fai, David ("Mr David Chow") as an alternate director to Madam Lam Fong Ngo ("Madam Lam"), an executive director (the "Director") and the vice chairman of the Company, with effect from 7 December 2018.

Mr David Chow, aged 68, has been a director since October 2006 and the chief executive officer of the Company since December 2006. Mr David Chow became a co-chairman of the Company and an executive Director on 31 May 2012. He is also a member of both the remuneration committee and the nomination committee of the Company. He has had more than 30 years of experience in the gaming, gaming promotion, entertainment and hospitality industries prior to founding the Company's business. He was engaged in the provision of gaming promotion services for junket room operations for Sociedade de Turismo e Diversões de Macau, S.A. in the 1980s. In 1992, Mr David Chow, being one of the founder members, established Hong Hock Development Company Limited ("Hong Hock") to engage in real estate operations in Macau. Under Mr David Chow's management, Hong Hock opened The Landmark Macau to provide rental, management and dining services for the use of the premises, facilities and services of the Group to Sociedade de Jogos de Macau, S.A. ("SJM") for their VIP room operations. In 2006, Mr David Chow expanded Hong Hock's operations and caused Hong Hock to enter into the service agreement with SJM and has since managed and directed Hong Hock's gaming services provision operations. In 2000, Mr David Chow, being one of the founder members, incorporated Macau Fisherman's Wharf International Investment Limited to develop and operate Macau Fisherman's Wharf. He has been instrumental to the development and operations and the proposed redevelopment of the hotels and entertainment facilities in Macau Fisherman's Wharf.

As at the date of this announcement, Mr David Chow is personally interested in 1,385,794,826 shares (the "Shares") in long position of the Company. All Landmark Properties Limited ("All Landmark"), a wholly-owned corporation of Mr David Chow, is interested in 319,696,000 Shares in long position and 319,696,000 Shares in short position. Madam Chan Mei Yi, Melinda ("Madam Chan"), the spouse of Mr David Chow, is interested in 129,690,066 Shares in long position. Mr David Chow is deemed to be interested in those Shares held by All Landmark and Madam Chan (within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) ("SFO"). Hence, Mr David Chow is interested in of approximately 29.28% (in long position) of the total issued share capital of the Company, of which 5.1% is in short position. Save as disclosed above, Mr David Chow does not have any other interests in the shares or underlying shares of the Company which are required to be disclosed pursuant to Part XV of the SFO.

Mr David Chow is (i) a son of Madam Lam; (ii) the father of Mr Chow Wan Hok, Donald, an executive Director, the corporate development director and Babylon Casino director of the Company; (iii) the spouse of Madam Chan, the President of Macau Fisherman's Wharf; and (iv) the father-in-law of Mr Adrian Pinto-Marques, the Hotel Manager of Harbourview Hotel and the Rocks Hotel. Mr David Chow is also a director of various subsidiaries of the Company. Save as disclosed above, as at the date of this announcement, Mr David Chow does not hold any other positions with the Company or its subsidiaries. Mr David Chow does not have any other relationships with any of the directors, senior management, substantial or controlling shareholders of the Company.

Save as disclosed above, Mr David Chow has confirmed that there are no other matters that need to be brought to the attention of the Shareholders regarding his appointment as an alternate director to Madam Lam and there is no other information that needed to be disclosed pursuant to any of the requirements of Rules 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited relating to his appointment as an alternate director to Madam Lam.

Pursuant to the Articles of Association of the Company (the "Articles"), the appointment of Mr David Chow as an alternate director to Madam Lam shall remain effective until Madam Lam ceases to be a Director or Mr David Chow's appointment as an alternate director has been revoked by Madam Lam, whichever is earlier. Pursuant to the Articles, Mr David Chow shall not be entitled to receive any remuneration or fees from the Company in respect of his appointment as an alternate director to Madam Lam.

By order of the Board Macau Legend Development Limited

Chow Kam Fai, David

Co-chairman, executive Director and

chief executive officer

Hong Kong, 7 December 2018

As at the date of this announcement, the executive Directors are Chow Kam Fai, David, Lam Fong Ngo (Chow Kam Fai, David as her alternate), Sheldon Trainor-DeGirolamo and Chow Wan Hok, Donald; the non-executive Directors are Tong Ka Wing, Carl and Ho Chiulin, Laurinda; and the independent non-executive Directors are Fong Chung, Mark, Xie Min and Tam Wai Chu, Maria.

* for identification purposes only