Las Vegas Sands has completed a deal for Four Seasons to manage a 400-room hotel being built by the company in China.

The hotel is being built on the Cotai Strip in the People’s Republic of China Special
Administrative Region of Macao.

Four Seasons will manage the Hotel and the
serviced vacation suites, while Las Vegas Sands Corp. will operate the casino
within the Hotel.

The parties have entered into an exclusive non-binding
Letter of Intent which sets forth all of the material terms of the parties
agreements. 

The parties expect to enter into binding definitive agreements by
the end of the second quarter 2006.
   
Connected to The Venetian Macao, which is currently under construction on
the Cotai Strip, Four Seasons Hotel Macao will feature 400 luxurious hotel
rooms; up to 600 Four Seasons-serviced vacation suites; distinctive dining
experiences; full service spas, each featuring a wide array of amenities;
elegant and versatile meeting space and a spacious pool bar and grill.
  The development will also include an upscale fashion mall integrated into the
Grand Canal Shoppes at The Venetian Macao.
  “Watching the Cotai Strip take shape with some of the most prominent names
in the business is an awe-inspiring experience,” said Sheldon G. Adelson,
chairman and CEO of Las Vegas Sands Corp.  “The caliber of the companies that
want to partner with us on this project is extraordinary and we are honored
that so many share our vision to create Asia’s Las Vegas.”

  “Macao is fast emerging as an international tourist and convention
location,” added Kathleen Taylor, president of worldwide business operations,
Four Seasons Hotels and Resorts. 

She added, “With the vision of Las Vegas Sands Corp.,
the Cotai Strip promises to become an exciting destination, and is a natural
fit with our expansion plans in Asia.  China and the entire Asia Pacific
region represent tremendous opportunities for Four Seasons to bring our
distinctive brand of genuine, caring service experience to new places.”

  In addition to the renowned Four Seasons services and amenities, guests of
Four Seasons Hotel Macao will also enjoy unparalleled nightlife.

The hotel
will feature a lively night club and a variety of chic lounges, all offering
exceptional entertainment options.
  The European style casino will cater to
high-end gaming with almost 50 tables and roughly 300 slot machines.

  “Four Seasons Hotels and Resorts is a powerful addition to the Cotai Strip
development and represents yet another step in building the ultimate travel
destination, for business and leisure, in this part of the world,” said
William P. Weidner, president and chief operating officer of Las Vegas Sands
Corp.
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