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					                                        Expedient Participation in the
                                    Gaming Intermediaries Business of
                                                  King Seiner Palace
                                                       14 March 2005




* For identification purpose only
    Forward Looking Statements Disclaimer

    This material is for information purposes only. This presentation may
    contain forward-looking statements based on current assumptions and
    forecasts made by Macau Success Limited management.

    Various known and unknown risks, uncertainties and other factors could
    lead to substantial differences between the actual future results, financial
    situation, development or performance of the company and the estimates
    given here. The company accepts no obligation to continue to report or
    update these forward-looking statements or adjust them to future events or
    development.

    This material may not be reproduced, distributed or transmitted to any
    other person or incorporated in any way into another document or other
    material without the prior written consent of Macau Success Limited. If
    you require further information please contact Miss Emily Chu of JOVIAN
    Financial Communications Ltd on (852) 21547823.




2
    Goals for 2004/2005

    • Acquisition of World Travel Agency Ltd in Macau
    • Completion of reorganization
    • Increase the stake from 10% to 24.5% of Ponte 16
      project
    • Successfully raised HK$370 million by share
      placement
    • To implement Ponte 16 project (to be completed in
      late 2006)
    • To explore profitable investments in Macau
    • To expand gaming business
    • To develop peripheral businesses to facilitate gaming
      business
    • To identify business partners and alliances
3
    Concept of Loan Agreement

     Macau Success Ltd
     Macau Success Ltd

                                            20% Interest Annually
      HK$50M Loan         Loan Interest     i.e. HK$10M per year


                                             Whichever the Higher
              At Macau Success’
              Discretion
                                           18% profit sharing from
                                          The gaming intermediaries
                                                Business of
     20% Gaming Intermediaries               King Seiner Palace
           Business of
        King Seiner Palace



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     Loan Agreement
    Date:
    Date:               77March, 2005
                          March, 2005

    Parties:
     Parties:           Indirect wholly-owned subsidiary of the
                         Indirect wholly-owned subsidiary of the
    The Lender:
     The Lender:        Company, Joyspirit Investments Limited
                         Company, Joyspirit Investments Limited

                        King Seiner Palace Promotor De Jogos, Limitada,
                         King Seiner Palace Promotor De Jogos, Limitada,
    The Borrower:
     The Borrower:      aacompany incorporated in Macau and is owned
                           company incorporated in Macau and is owned
                        as to 56% by Mr. Yeung, 24% by Mr. Chan and
                         as to 56% by Mr. Yeung, 24% by Mr. Chan and
                        20% by an Independent Third Party
                         20% by an Independent Third Party
                        •• Loan Facility of HK$50 million;
                            Loan Facility of HK$50 million;
    Principal Terms:
     Principal Terms:   •• Interest on the Loan shall be higher of 20%
                            Interest on the Loan shall be higher of 20%
                           PA (equivalent to HK$10 million), OR
                            PA (equivalent to HK$10 million), OR
                        • the amount equivalent to 18% of the profits
                         • the amount equivalent to 18% of the profits
                           of the gaming intermediaries business at the
                            of the gaming intermediaries business at the
                           King Seiner Palace located in Macau Pharaoh
                            King Seiner Palace located in Macau Pharaoh
                           Hotel
                            Hotel



5
     Option Deed
    Date:
    Date:               77March, 2005
                          March, 2005

    Parties:
     Parties:           Indirect wholly-owned subsidiary of the
                         Indirect wholly-owned subsidiary of the
    The Grantee:
     The Grantee:       Company, Joyspirit Investments Limited
                         Company, Joyspirit Investments Limited

                        King Seiner Palace Promotor De Jogos, Limitada,
                         King Seiner Palace Promotor De Jogos, Limitada,
    The Grantor:
     The Grantor:       aacompany incorporated in Macau and is owned
                           company incorporated in Macau and is owned
                        as to 56% by Mr. Yeung, 24% by Mr. Chan and
                         as to 56% by Mr. Yeung, 24% by Mr. Chan and
                        20% by an Independent Third Party
                         20% by an Independent Third Party
                        The Grantor will grant to the Grantee an Option.
                         The Grantor will grant to the Grantee an Option.
    Principal Terms:
     Principal Terms:   Upon exercising of the option by the Grantee at
                         Upon exercising of the option by the Grantee at
                        any time during 57 months from the date of the
                         any time during 57 months from the date of the
                        Option Deed, the Grantor shall issue 20% of the
                         Option Deed, the Grantor shall issue 20% of the
                        enlarged share capital of the Grantor to the
                         enlarged share capital of the Grantor to the
                        Grantee at aaprice not more than 4-time PE on
                         Grantee at price not more than 4-time PE on
                        fulfilling certain conditions.
                         fulfilling certain conditions.



6
    Background of the Borrower and the Business
    • The Borrower is engaged in the gaming intermediaries business
      and other gaming-related activities at the King Seiner Palace
      located in Macau Pharaoh Hotel, Macau and will apply for the
      Gaming     Intermediaries    License   under   the    Gaming
      Intermediaries Regulation of Macau.
    • The gaming intermediaries business to be carried out by the
      Borrower in Macau includes:
       • marketing and organizing gaming-related trips for
         introducing customers to participate in the gaming
         activities provided by the casino operator at the King
         Seiner Palace and
       • the provision of other ancillary services such as food and
         beverage services, accommodation and transportation
         arrangements for its customers.
    • King Seiner Palace is undergoing renovation works and
      expected to be opened in April 2005.



7
    Reasons for and Benefits
    • An expedient way to participate in the gaming
      intermediaries business of the King Seiner Palace
      located in Macau Pharaoh Hotel
    • A guaranteed stable interest income of HK$10
      million annually, subject to upward adjustment to a
      maximum of 18% of the profit of the Borrower
    • A right to exercise an Option for 20% of the
      enlarged issue share capital of the gaming
      intermediaries business of the Borrower at a price of
      not more than 4-time PE
    • A commitment to strengthen the Group’s gaming
      business



8
Q&A Session
     Business Model



           Cruise              Hotel


                      Casino




                      Travel

10
     The Parent Group Structure
                                 Success Universe Group


              Mr. Sonny Yeung (36.01%)*

              Mr. William Chan (15.43%)
                                                                                   King Seiner Palace
                                                                                 (Pharaoh Hotel - Macau)

                                                                                     Golden Palace
                                                                                   (Casino Lisboa - Macau)
                                                                                (Combined with two VIP halls)

            Macau                       Jade               Young                     Regency VIP Club
           Success                     Travel             Champion                 (Casino Marina - Macau)
           Limited                    Limited              Limited                 Dragon View VIP Club
         (0487.HK) **                                                              (Casino Marina - Macau)



        * Member of the Chinese People’s Political Consultative Conference, the PRC since 1993
        * *Listed on The Stock Exchange of Hong Kong Limited




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