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Press Release: Las Vegas Sands Corp; Far East Consortium International Limited has
December 22, 2005
LAS VEGAS, NV -- Las Vegas Sands Corp. (NYSE: LVS) and Far East Consortium International Limited (HKSE: 0035.HK)
have reached agreement on all the commercial terms necessary for Far East to build a multi-hotel complex -- which
will include an Intercontinental Hotel, Holiday Inn and Far East hotel brands Cosmopolitan and Dorsett -- on the
Cotai Strip(TM) in Macao, Special Administrative Region of the People's Republic of China.
Under the terms of the agreement, Far East Consortium will develop the complex and will work with the hotel brands
to manage the five hotels on the property. Las Vegas Sands will own and operate the casinos and showrooms within
the podium complex supporting the hotels. The definitive agreements are being finalized and the parties expect
to execute them early in the New Year.
"Far East Consortium has been a dedicated partner in our effort to create "Asia's Las Vegas(TM),"
said William Weidner, president and chief operating officer of Las Vegas Sands Corp. "Their experience and
track record in Asia will enable them to play a key role in the success of the Cotai Strip. We are confident that
they will help us develop a 'must see' destination for Asia's business and leisure travelers and we look forward
to a long and prosperous relationship."
"After two years of detailed planning, we are excited to see the groundbreaking of our Macau project in early
2006. Teaming up with a strong partner, Las Vegas Sands Corp., and with the support of the Macau government, we
are confident to believe that the Cotai Strip will become one of the most exciting business and leisure traveling
destinations in Asia," said Tan Sri Dato' David Chiu, deputy-chairman and chief executive officer of Far East
Consortium International Limited.
The Cotai Strip is a master planned development of resort casino properties on an area of reclaimed land between
the islands of Coloane and Taipa in Macao. In addition to 10,000 guest rooms, the first phase of the Cotai Strip
is expected to offer a critical mass of business, leisure and entertainment attractions, including world class
meeting and convention facilities, over 20,000 seats of live entertainment in eight separate theater venues and
the most modern and exciting casinos in Asia.
The Cotai Strip will be anchored by the 10.5 million square foot Venetian Macao Hotel Resort Casino, which is scheduled
to open in 2007. In addition to the Far East property and its hotel brand partners, Las Vegas Sands has previously
announced that Shangri-La Hotels and Resorts will operate the Shangri-La Hotel, Macao and the Traders Hotel, Macao
in a Las Vegas Sands-owned building across from The Venetian Macao.
Statements in this press release which are not historical facts are "forward looking" statements that
are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which
may cause material differences in actual results, performance or other expectations. These factors include, but
are not limited to general economic conditions, competition, new ventures, government regulation, legalization
of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by
Las Vegas Sands Corp. with the Securities and Exchange Commission.
ABOUT LAS VEGAS SANDS CORP.
Las Vegas Sands Corp. is a hotel, gaming, resort and exhibition/convention company headquartered in Las Vegas,
Nevada. The company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Center, where it hosts
exhibitions and conventions, in Las Vegas and the Sands Macao in the People's Republic of China Special Administrative
Region of Macao. The company is also developing additional casino hotel resort properties, including The Palazzo
Resort Hotel Casino in Las Vegas and The Venetian Macao Casino Resort in Macao.
ABOUT FAR EAST CONSORTIUM INTERNATIONAL LIMITED
Far East Consortium International Limited has been listed in Hong Kong since 1972. The Company is principally engaged
in property development and hotel operations in Greater China. The Company is committed to be a top developer in
China primarily targeting the middle class customers and to be a leading hotel group in Hong Kong and Greater China.
Presently, the Company owns and operates six hotels in Asia with two additional hotels opening soon in Hong Kong.
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Contacts:
Investment Community: Scott Henry, Chief Financial Officer, Las Vegas
Sands Corp., (702) 733-5502
Bill Mok, Chief Financial Officer, Far East
Consortium International Ltd, (852) 2850-0618
Media: Ron Reese, Executive Director of Communications,
Las Vegas Sands Corp., (702) 414-3607
Source: Las Vegas Sands Corp; Far East Consortium International Limited has