MI Developments Inc. Annual and Special Meeting of Shareholders and notice of conference call for first quarter 2007 results

    AURORA, ON, April 30 /CNW/ - MI Developments Inc. ("MID") (TSX: MIM.A,
MIM.B; NYSE:   MIM) is holding its Annual and Special Meeting of Shareholders on
Friday, May 11, 2007 at Le Royal Meridien King Edward Hotel, 37 King Street
East, Toronto, Ontario, Canada, commencing at 10:00 a.m. EST. The meeting will
be webcast live at www.midevelopments.com. In addition to addressing the
Annual and Special Meeting matters, MID will announce its financial results
for the first quarter ended March 31, 2007 at the meeting.
    A conference call to discuss the first quarter results will be held on
Friday, May 11, 2007 at 1:30 p.m. EST. The number to use for this call is
1-800-590-1817. Please call 10 minutes prior to the start of the conference
call. The dial-in number for overseas callers is 416-644-3424. MID will also
webcast the conference call at www.midevelopments.com. The conference call
will be chaired by John D. Simonetti, Chief Executive Officer.
    For anyone unable to listen to the scheduled call, the rebroadcast
numbers will be: North America - 1-877-289-8525 and Overseas - 416-640-1917
(reservation number is 21228207, followed by the number sign) and the
rebroadcast will be available until Friday, May 18, 2007.

    MID is a real estate operating company focusing primarily on the
ownership, leasing, management, acquisition and development of a predominantly
industrial rental portfolio for Magna International Inc. and its subsidiaries
in North America and Europe. MID also holds a controlling investment in Magna
Entertainment Corp., North America's number one owner and operator of horse
racetracks, based on revenue, and among the world's leading suppliers, via
simulcasting, of live horse racing content to the growing inter-track,
off-track and account wagering markets.

For further information:

For further information: For teleconferencing questions, please call
Angie Palmer at (905) 726-7508

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