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Dixon voters reject proposed racetrack

CALIFORNIA – (PRESS RELEASE) -- Magna Entertainment Corp. ("MEC") (NASDAQ: MECA) announced today that the outcome of a referendum in Dixon, California on certain entitlements with respect to its proposed horse racing complex was not favorable. Voters overturned four separate actions that were previously approved by the Dixon City Council allowing MEC's proposed racetrack and mixed-use development.

"MEC would like to thank all the individuals who worked so relentlessly on this initiative, as well as its many supporters across California and within the horse-racing industry. We are especially grateful to MEC Vice-Chairman Dennis Mills, Lorne Kumer, VP Development of MI Developments Inc. and their team for their great effort and personal sacrifice, as they fought to bring MEC's vision to Dixon," stated Michael Neuman, Chief Executive Officer of MEC. "MEC strongly believes in its proposed plan for Dixon and the powerful economic impact such a plan could have on any town, particularly following the anticipated closure of another racetrack in the region."

MEC will take this opportunity to speak with town leaders and MEC's supporters in Dixon in the course of evaluating its options regarding the potential future development of its Dixon land holding.

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