News Release - Pursuant to: National Instrument 62-103

    TORONTO, June 29 /CNW/ - Further to disclosure requirements of applicable
securities legislation, 2210456 Ontario Inc. announces that it has acquired by
private agreement, ownership and control of 628,570 shares of Class A
Subordinate Voting Stock (the "Class A Shares") of Magna Entertainment Corp.
    As a result of the foregoing transaction, 2210456 Ontario Inc. now holds,
directly or indirectly, 628,570 Class A Shares of MEC, representing
approximately 21.6% of the outstanding Class A Shares of MEC.
    2210456 Ontario Inc. acquired the 628,570 Class A Shares of MEC for
investment purposes and may in the future wish to increase or decrease its
shareholdings in MEC as circumstances warrant.

For further information:

For further information: To obtain a copy of the Early Warning Report,
please contact: Brent Wilson, Telephone Number: (613) 292-0809

Organization Profile

2210456 ONTARIO INC.

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