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Magna Entertainment Appoints New President for Santa Anita Park

28 January 2004

AURORA, Ontario – (Press Release) -- Jim McAlpine, President and CEO of Magna Entertainment Corp. ("MEC") (NASDAQ: MECA - News; TSX: MEC.A), today announced the appointment, effective immediately, of Jack McDaniel as President of Santa Anita Park and the resignation of Jack Liebau as President, MEC California Operations and a member of the MEC Board of Directors.

McDaniel has been Director, Special Programs for Santa Anita Park since January 2003. Prior to that he was for several years a consultant to MEC on a variety of matters related to facilities development and marketing. Jack McDaniel is a thirty-year veteran of the entertainment industry, who has overseen major projects for Universal Studios, MCA and 20th Century Fox. Since starting his own company in 1994, Jack has designed major attractions for Paramount Parks, the New York Mets, Nickelodeon and others.

McAlpine noted that: "In his new position Jack McDaniel will be supported by Santa Anita's management team of Chris McCarron, George Haines, Mike Ziegler, and others. Collectively, this team has tremendous experience in the horse racing, entertainment and hospitality businesses. I am confident that they are capable of taking Santa Anita to the next level as a world class horse racing and entertainment facility."

Mr. McAlpine also stated: "On behalf of the Board of Directors of MEC, I would like to thank Jack Liebau for his leadership in California and contributions to our Board deliberations over the last three years. We hope he enjoys a long and well-deserved retirement."

MEC, North America's number one owner and operator of horse racetracks, based on revenue, acquires, develops and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. Additionally, MEC owns and operates XpressBet(TM), a national Internet and telephone account wagering system, and HorseRacing TV(TM), a 24-hour horse racing television network.

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