Magna Entertainment Corp. Chairman and CEO to provide corporate update

    AURORA, ON, March 23 /CNW/ - Magna Entertainment Corp. ("MEC") (NASDAQ:  
MECA; TSX: MEC.A) today announced that it will hold a conference call on
Tuesday March 27, 2007 at 11:00 a.m. EST. Michael Neuman, MEC's recently
appointed Chief Executive Officer, will provide an update on MEC's operations
and strategic initiatives.
    The number to use for the conference call is 1-877-871-4098. Please call
10 minutes prior to the start of the conference call. The dial-in number for
overseas callers is 416-620-8834. MEC will also webcast the conference call at The slide presentation accompanying the conference
call will be available on our website prior to the call. The conference call
will be co-chaired by Frank Stronach, Chairman of MEC and Michael Neuman,
Chief Executive Officer of MEC. If you have any teleconferencing questions,
please call Karen Richardson at 905-726-7465.
    For anyone unable to listen to the scheduled call, the rebroadcast number
will be 1-800-558-5253 (reservation No.21333780) and will be available until
April 4, 2007. For overseas callers, please call 1-416-626-4100 (reservation
    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 racing content management
and distribution company.

For further information:

For further information: Blake Tohana, Executive Vice President & Chief
Financial Officer, Magna Entertainment Corp., 337 Magna Drive, Aurora, ON L4G
7K1, Tel: (905) 726-7491

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