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Magna announces completion of acquisition of Santa Anita race track

14 December 1998

Magna announces completion of acquisition of Santa Anita race track and related real estate

    AURORA, ON, Dec. 14 /CNW-PRN/ - Magna International Inc. (TSE: MG.A,
MG.B; ME: MG.A; NYSE: MGA) reported today that its MI Developments real estate
group has completed the previously announced acquisition of the Santa Anita
Race Track and related horse racing operations and approximately 305 acres of
related real estate for U.S. $126 million.