MI Developments notice of release of first quarter 2009 results and annual meeting

    AURORA, ON, April 30 /CNW/ - MI Developments Inc. ("MID") (TSX: MIM.A,
MIM.B; NYSE:   MIM) will announce its financial results for the first quarter
ended March 31, 2009 on Friday, May 8, 2009 before the opening of the market.
    MID will hold its annual shareholders' meeting on Friday, May 8, 2009 at
Le Parc, 8432 Leslie Street, Thornhill, Ontario, Canada, commencing at 10:30
a.m. EST. The meeting will be webcast live at www.midevelopments.com.

    About MID

    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 acquires land that it intends to develop
for mixed-use and residential projects. MID holds a controlling interest in
Magna Entertainment Corp. ("MEC"). On March 5, 2009, MEC and certain of its
subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

For further information:

For further information: about this press release, please contact
Richard Smith, MID's Executive Vice-President and Chief Financial Officer, at
(905) 726-7507

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