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Magna Entertainment reports appointments

AURORA, Ontario – (PRESS RELEASE) -- Magna Entertainment Corp. ("MEC") (NASDAQ: MECA) today announced that Bill Murphy has been appointed President and General Manager of Gulfstream Park. Bill has been Vice President and General Manager of Racing Operations at Gulfstream since July 18, 2006 and Vice President and General Manager of MEC's Thistledown since 1997.

"I would like to wish Bill good luck in his new position. He has worked for MEC and in this industry for many years and I have every confidence that he will do a great job," said Frank Stronach, Chairman of MEC.

Bill succeeds Paul Micucci who has assumed responsibility at MEC Corporate for MEC's various new gaming initiatives. Before moving to Gulfstream to open the Gulfstream Park Casino, Paul was also responsible for the successful opening of MEC's gaming facility at Remington Park in Oklahoma. Having successfully completed these projects Paul is returning to MEC head office as Vice President - Gaming.

Frank Stronach commented, "I want to take this opportunity to thank Paul for all his hard work opening the casinos at Remington Park and Gulfstream Park and look forward to his ongoing contribution on our new gaming initiatives."

"I have enjoyed my time at Gulfstream and want to thank the staff for their support during the opening of the casino. I wish everyone great success in the future," said Paul Micucci.

Magna Entertainment Corp. (MEC) is North America's largest owner and operator of horse racetracks, based on revenue. It develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. MEC also develops, owns and operates casinos in conjunction with its racetracks where permitted by law. MEC owns and operates XpressBet®, a national Internet and telephone account wagering system, and Horse Racing TV®, a 24-hour horse racing television network, as well as MagnaBet(TM) internationally.

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