HONG KONG / MACAU, China, May 15, 2008. Galaxy Entertainment Group Limited ("Galaxy"; HKSE: 0027) today announced an agreement for Banyan Tree Holdings Limited ("Banyan Tree"; Singapore: B58), a leading Asian resort hotel brand, to develop and operate a luxury resort featuring luxurious suites, pool villas and its award winning spa resort in the Galaxy mega resort in Cotai, Macau.

Three hotels (Galaxy's own 1500 rooms, Okura Hotels and Resorts' 410 rooms and Banyan Tree 254 rooms) will operate in the initial stage, housed in two glorious towers with vistas overlooking a lush tropical environment. Galaxy will operate "Tower A" with 1,500 rooms, and two premium, internationally branded hotels will operate in "Tower B" with an additional 1,000 rooms, all connected directly to the casino. As one of the largest in the world, the casino will have a capacity to accommodate up to 700 gaming tables and 4,000 slot machines in a breathtaking and expansive setting. The mass gaming hall stretches the entire length of the casino at almost 300 metres (1,000 feet) long with 15 metre (50 feet) high ceilings and is lined with boundless retail delights, and restaurants.

"Banyan Tree is a leading developer and operator of luxury spa resorts in Asia. With its strong heritage and its reputation for design innovation, service, exceptional accommodation and spa facilities, it is an ideal partner for Galaxy's mega resort. Banyan Tree will offer our customers an unrivalled combination of luxury and rejuvenation in the unique surroundings of the Galaxy mega resort. Together we will create the first authentic spa hotel brand in Macau," said Dr. Lui Che Woo, Chairman of Galaxy.

At present, Banyan Tree operates 23 resorts and hotels, and 64 spas across the world. At Galaxy mega resort, it will design and operate 254 rooms including 238 large luxurious suites, 16 floating villas with private pools, cabanas, and a specially designed world class spa combining a wide array of holistic treatments and therapies and for the first time in China and any Special Administrative Region, specially designed pool suites.

"This partnership with Banyan Tree will strongly complement our existing plans for the Okura Hotel and our own Galaxy hotel in the Galaxy mega resort, clearly positioning it as the most prominent Asian destination resort in Macau, delivering a unique blend of adventure, discovery, rejuvenation and surprise. This extraordinary tropical experience will stir the senses. I am confident that our unique offering will draw discerning consumers from, not only Mainland China and Hong Kong, but all corners of Asia and beyond," added Dr Lui.

"For Banyan Tree, we are very excited to have found the right platform to enter the Macau market. Both Banyan Tree and Galaxy share the same vision. We understand the needs of top-end Asian consumers and know how discerning and selective they are. By developing a world-class resort we are confident that we are leading the way in Macau's hospitality industry. With our long heritage and expertise in running exclusive resorts, hotels and spas across the globe, we are confident that Banyan Tree Macau will further enhance Macau's position as a leading global leisure destination," said Ho Kwong Ping, Executive Chairman of Banyan Tree.

Themed around the concept of a "Mystical Oasis", the Galaxy mega resort will offer 2,164 5-Star luxury hotel rooms including Galaxy's own 1500 rooms, Okura Hotels and Resorts' 410 rooms and Banyan Tree Macau's 254 suites. The mega resort will have a strong Asian identity, with tropical features and design complemented by luxurious villas and cabanas, suites and rooms. The entire Galaxy mega resort will boast a world of gastronomic delights, cocktail lounges and vibrant bars, street style entertainment, relaxation living in the playful podium gardens, white sand beach and wave pool, awe inspiring architecture, one of the largest casinos in the world, and contemporary retail boulevards with the very latest fashion accessories. The jewel in Galaxy's crown is scheduled to be completed in 2009.