MEC, Ladbrokes Reach Agreement - Thursday 16th of March 2006

AURORA, Ontario – Magna Entertainment Corp. ("MEC") today announced that it has reached an agreement for its Austrian subsidiary to distribute premium North American horse racing content directly to Ladbrokes' licensed betting shops throughout the U.K. and Ireland.

The service is being provided to Ladbrokes Xtra, a new betting environment being rolled out to approximately 2,000 Ladbrokes shops across the U.K. and Ireland, and features premier racing content from both MEC and other quality North American tracks.

"This is a great opportunity to build direct relationships between high-quality U.S. tracks and the largest distribution network in the U.K.," said Tom Hodgson, President and Chief Executive Officer of MEC. "As British betting shops turn to international racing to extend their product offerings, we believe there is great potential to build U.S. racetrack brands with some of the most avid fans in the world."

"Ladbrokes Xtra is an exciting new initiative for us which is focused on creating an entirely new customer experience within our shops," said Richard Ames, Retail Commercial Director of Ladbrokes. "One of the centerpieces of this service will be U.S. racing, and we are delighted to have MEC on board as a partner supplying top-quality U.S. content."

Magna Entertainment Corporation (MEC) is North America's largest owner and operator of horse racetracks, based on revenue. It develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. Additionally, MEC owns and operates XpressBet®, a national Internet and telephone account wagering system, and Horse Racing TV®, a 24-hour horse racing television network, as well as RaceONTV(TM) and MagnaBet(TM) internationally.

Ladbrokes, the betting and gaming division of Hilton Group plc, is the world's biggest bookmaker. It provides its customers with a 24-hour a day, 7-days a week service via over 2,500 licensed betting shops in the UK, Ireland and Belgium, state of the art call centers in London and Liverpool and its interactive services. Over 1 million registered customers from 160 countries bet on the internet with Ladbrokes.

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