MI Developments notice of release of second quarter 2009 results

    AURORA, ON, Aug. 6 /CNW/ - MI Developments Inc. ("MID") (TSX: MIM.A,
MIM.B; NYSE:   MIM) will announce its financial results for the second quarter
ended June 30, 2009 on Thursday, August 13, 2009 before the opening of the

    About MID

    MID is a real estate operating company engaged primarily in the
acquisition, development, construction, leasing, management, and ownership of
a predominantly industrial rental portfolio leased primarily to 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 majority equity interest in Magna Entertainment Corp.
(MEC), an owner and operator of horse racetracks, and a supplier, via
simulcasting, of live horseracing content to the inter-track, off-track and
account wagering markets. MEC has filed a voluntary petition for
reorganization under Chapter 11 of the U.S. Bankruptcy Code.

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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