Magna Entertainment Corp. - Announcement of Second Quarter Results

AURORA, ON, July 31  /PRNewswire-FirstCall/ -- Magna Entertainment Corp. ("MEC") (NASDAQ: MECAD; TSX: MEC.A) will announce its financial results for the second quarter ended June 30, 2008 on Tuesday, August 5, 2008.

A conference call to discuss those results will be held on Wednesday, August 6, 2008 at 3:00 p.m. EST. The number to use for this call is 1-800-255-2466. Please call 10 minutes prior to the start of the conference call. The dial-in number for overseas callers is 212-676-5399. MEC will also webcast the conference call at http://www.magnaentertainment.com/.

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 # 21389628) and will be available until Tuesday, August 12, 2008. For overseas callers, please call 1-416-626-4100 (reservation # 21389628). The replay of the webcast of the annual meeting will also be available on http://www.magnaentertainment.com/.

SOURCE: Magna Entertainment Corp. 

DATASOURCE: Magna Entertainment Corp.



CONTACT:  Blake Tohana, Executive Vice President and Chief Financial

Officer, Magna Entertainment Corp., [phone]

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