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Club Med and Melco China Resorts Sign Agreement To Open The First Club Med Ski Resort On November 2010 In Yabuli, China

Club Méditerranée and Melco China Resorts (Holding) Limited (TSXV: MCG) (“Melco China Resorts” or the “MCR”) signed an agreement to open the first Club Med Snow Resort at MCR’s Sun Mountain Yabuli resort in November 2010.

The signing was attended by Club Méditerranée, Melco China Resorts and new shareholder Wisecord Holding Limited (WHL).

The upmarket resort that will be home to the first Club Med mountain Resort in China was extensively redeveloped in 2008 and reopened in early 2009.

It will be aligned with the Club Med’s standards by November. Club Méditerranée will operate and market the Resort under a ten-year renewable management contract, while MCR will manage all ski-related activities.

Club Med will cover the cost of aligning the resort for a maximum investment of US$3 million.

The future 4-Trident Yabuli Resort will be dedicated to families, couples and business seminars. It will boast a total of 284 rooms, comprising 27 120-square-metre suites, 22 52 square-metre deluxe rooms and 235 36-square-metre Superior rooms. The Resort is equipped with a spa, a swimming pool and a fitness room.

It has an array of conference rooms, which recently hosted the China Entrepreneur Forum, an annual event held in February that brings together 600 senior executives from leading Chinese companies.

When Club Med Yabuli opens officially in November 2010, families can also look forward to a slew of supervised activities dedicated to children from 2 to 18 years old.

Located in Heilongjiang Province in northeastern China, Yabuli is currently the country’s largest ski resort.

This region is also popular among the Chinese for its high-quality ski areas; the complex, which includes Asia’s longest mountain trail, is ideal for skiers of all levels. In 2009, Yabuli hosted the World University Youth Games.

Yabuli is located ideally near Harbin, a city of 10 million people that is home to the world’s largest ice festival. Harbin has an international airport from which travelers can reach Beijing in 1 hour 30 minutes and Shanghai in 2 hours 50 minutes.

In line with Club Med’s goal to become the leading provider of upmarket, all inclusive vacations for Chinese customers, three other resort projects at seaside and cultural destinations in China have either been identified or are in the planning stage.

Club Med will be strengthening its presence by opening five upscale resorts between 2010 and 2014.

The objective for 2015 is to attract 5 to 10 percent of China’s potential 4- and 5-star resort customers, the number of which is expected to quadruple over the next five years. This translates to about 200,000 Chinese customers that Club Med could expect by 2015.

The collaboration of Melco China Resorts and Club Med creates a perfect picture of synergy: Melco China Resorts possess an impressive portfolio of mountain resorts with a proven track record for developing and operating popular, sought after mountain resorts in the world, while Club Med enjoys a fine reputation for its expertise in operating ski resorts with a total of 23 ski resorts located worldwide.