Magna Entertainment Corp. announces resignation of director

    AURORA, ON, March 3 /CNW/ - Magna Entertainment Corp. ("MEC") (NASDAQ:  
MECA; TSX: MEC.A) today announced that Joseph De Francis has resigned as a
director of MEC. As previously announced, in September 2007 MEC, pursuant to
an agreement with certain companies controlled by the De Francis family,
exercised its option to acquire the remaining interest in The Maryland Jockey
Club that it did not previously own. Subsequent to the exercise of the option,
Joseph De Francis resigned his position as Executive Vice-President of MEC.

    Frank Stronach, MEC's Chairman and Interim Chief Executive Officer,
stated "I want to thank Joe for all of his hard work on behalf of MEC over the
years and we wish him well in his future endeavors."

    MEC, North America's largest owner and operator of horse racetracks,
based on revenue, acquires, 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 AmTote
International, Inc., a provider of totalisator services to the pari-mutuel
industry, XpressBet(R), a national Internet and telephone account wagering
system, as well as MagnaBet(TM) internationally. Pursuant to joint ventures,
MEC has a fifty percent interest in HorseRacing TV, a 24-hour horse racing
television network and TrackNet Media Group, LLC, a content management company
formed for distribution of the full breadth of MEC's horse racing content.

For further information:

For further information: Blake Tohana, Executive Vice-President and
Chief Financial Officer, Magna Entertainment Corp., 337 Magna Drive, Aurora,
ON, L4G 7K1, Tel: (905) 726-7493

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