As\ue000 a\ue000 result\ue000 of\ue000 Mr.\ue000 Campbell\u2019s\ue000 resignation,\ue000 the\ue000 Registrant\ue000 is\ue000 not\ue000 currently\ue000 in\ue000 compliance\ue000 with\ue000 the\ue000 audit\ue000 committee\ue000 requirements\ue000 provided\ue000 for\ue000 in
Nasdaq\ue000 Marketplace\ue000 Rule\ue000 4350(d)(2)(A),\ue000 due\ue000 to\ue000 the\ue000 fact\ue000 that\ue000 MEC\u2019s\ue000 Audit\ue000 Committee\ue000 is\ue000 no\ue000 longer\ue000 comprised\ue000 of\ue000 at\ue000 least\ue000 three\ue000 independent
directors.\ue000 \ue000 The\ue000 Registrant\ue000 presently\ue000 has\ue000 two\ue000 qualified\ue000 independent\ue000 directors\ue000 on\ue000 its\ue000 Audit\ue000 Committee.\ue000 \ue000 The\ue000 Registrant\ue000 intends\ue000 to\ue000 rely\ue000 on\ue000 the
cure\ue000 period\ue000 provisions\ue000 of\ue000 Nasdaq\ue000 Marketplace\ue000 Rule\ue000 4350(d)(4)(B),\ue000 under\ue000 which\ue000 the\ue000 Registrant\ue000 has\ue000 until\ue000 the\ue000 earlier\ue000 of\ue000 its\ue000 next\ue000 annual
shareholders\u2019\ue000 meeting\ue000 or\ue000 February\ue000 20,\ue000 2010\ue000 to\ue000 regain\ue000 compliance\ue000 with\ue000 Nasdaq\u2019s\ue000 audit\ue000 committee\ue000 requirements.

The\ue000 information\ue000 contained\ue000 under\ue000 this\ue000 item\ue000 7.01\ue000 (including\ue000 Exhibit\ue000 99.1)\ue000 shall\ue000 not\ue000 be\ue000 deemed\ue000 filed\ue000 for\ue000 purposes\ue000 of\ue000 Section\ue000 18\ue000 of\ue000 the\ue000 Securities
Exchange\ue000 Act\ue000 of\ue000 1934\ue000 (the\ue000 \u201cExchange\ue000 Act\u201d)\ue000 or\ue000 otherwise\ue000 subject\ue000 to\ue000 the\ue000 liabilities\ue000 of\ue000 that\ue000 section,\ue000 nor\ue000 shall\ue000 it\ue000 be\ue000 deemed\ue000 incorporated\ue000 by
reference\ue000 in\ue000 any\ue000 filing\ue000 under\ue000 the\ue000 Securities\ue000 Act\ue000 of\ue000 1933\ue000 or\ue000 the\ue000 Exchange\ue000 Act,\ue000 except\ue000 as\ue000 expressly\ue000 set\ue000 forth\ue000 by\ue000 specific\ue000 reference\ue000 in\ue000 such\ue000 filing.

Canada\ue000 \ue000 L4G\ue000 7K1 Tel\ue000 (905)\ue000 726-2462 Fax\ue000 (905)\ue000 726-2585

As\ue000 a\ue000 result\ue000 of\ue000 Mr.\ue000 Campbell\u2019s\ue000 resignation,\ue000 MEC\ue000 is\ue000 not\ue000 currently\ue000 in\ue000 compliance\ue000 with\ue000 the\ue000 audit\ue000 committee\ue000 requirements\ue000 provided\ue000 for\ue000 in\ue000 Nasdaq
Marketplace\ue000 Rule\ue000 4350(d),\ue000 due\ue000 to\ue000 the\ue000 fact\ue000 that\ue000 MEC\u2019s\ue000 Audit\ue000 Committee\ue000 is\ue000 no\ue000 longer\ue000 comprised\ue000 of\ue000 at\ue000 least\ue000 three\ue000 independent\ue000 directors.\ue000 \ue000 MEC
presently\ue000 has\ue000 two\ue000 qualified\ue000 independent\ue000 directors\ue000 on\ue000 its\ue000 Audit\ue000 Committee.\ue000 \ue000 MEC\ue000 intends\ue000 to\ue000 rely\ue000 on\ue000 the\ue000 cure\ue000 period\ue000 provisions\ue000 of\ue000 Nasdaq
Marketplace\ue000 Rule\ue000 4350(d)(4),\ue000 under\ue000 which\ue000 MEC\ue000 has\ue000 until\ue000 the\ue000 earlier\ue000 of\ue000 MEC\u2019s\ue000 next\ue000 annual\ue000 shareholders\u2019\ue000 meeting\ue000 or\ue000 February\ue000 20,\ue000 2010\ue000 to\ue000 regain

MEC,\ue000 North\ue000 America\u2019s\ue000 largest\ue000 owner\ue000 and\ue000 operator\ue000 of\ue000 horse\ue000 racetracks,\ue000 based\ue000 on\ue000 revenue,\ue000 develops,\ue000 owns\ue000 and\ue000 operates\ue000 horse\ue000 racetracks\ue000 and
related\ue000 pari-mutuel\ue000 wagering\ue000 operations,\ue000 including\ue000 off-track\ue000 betting\ue000 facilities.\ue000 MEC\ue000 also\ue000 develops,\ue000 owns\ue000 and\ue000 operates\ue000 casinos\ue000 in\ue000 conjunction
with\ue000 its\ue000 racetracks\ue000 where\ue000 permitted\ue000 by\ue000 law.\ue000 MEC\ue000 owns\ue000 and\ue000 operates\ue000 AmTote\ue000 International,\ue000 Inc.,\ue000 a\ue000 provider\ue000 of\ue000 totalisator\ue000 services\ue000 to\ue000 the\ue000 pari-
mutuel\ue000 industry,\ue000 XpressBet(R),\ue000 a\ue000 national\ue000 Internet\ue000 and\ue000 telephone\ue000 account\ue000 wagering\ue000 system,\ue000 as\ue000 well\ue000 as\ue000 MagnaBet(TM)\ue000 internationally.
Pursuant\ue000 to\ue000 joint\ue000 ventures,\ue000 MEC\ue000 has\ue000 a\ue000 fifty\ue000 percent\ue000 interest\ue000 in\ue000 HorseRacing\ue000 TV(R),\ue000 a\ue000 24-hour\ue000 horse\ue000 racing\ue000 television\ue000 network,\ue000 and\ue000 TrackNet
Media\ue000 Group\ue000 LLC,\ue000 a\ue000 content\ue000 management\ue000 company\ue000 formed\ue000 for\ue000 distribution\ue000 of\ue000 the\ue000 full\ue000 breadth\ue000 of\ue000 MEC\u2019s\ue000 horse\ue000 racing\ue000 content.

This\ue000 press\ue000 release\ue000 contains\ue000 \u201cforward-looking\ue000 statements\u201d\ue000 within\ue000 the\ue000 meaning\ue000 of\ue000 applicable\ue000 securities\ue000 legislation,\ue000 including\ue000 Section\ue000 27A\ue000 of\ue000 the
United\ue000 States\ue000 Securities\ue000 Act\ue000 of\ue000 1933,\ue000 as\ue000 amended\ue000 (the\ue000 \u201cSecurities\ue000 Act\u201d),\ue000 and\ue000 Section\ue000 21E\ue000 of\ue000 the\ue000 United\ue000 States\ue000 Securities\ue000 Exchange\ue000 Act\ue000 of\ue000 1934,
as\ue000 amended\ue000 (the\ue000 \u201cExchange\ue000 Act\u201d)\ue000 and\ue000 forward-looking\ue000 information\ue000 as\ue000 defined\ue000 in\ue000 the\ue000Securities\ue000 Act\ue000 (Ontario)\ue000 (collectively\ue000 referred\ue000 to\ue000 as
forward-looking\ue000 statements).\ue000 These\ue000 forward-looking\ue000 statements\ue000 are\ue000 made\ue000 pursuant\ue000 to\ue000 the\ue000 safe\ue000 harbor\ue000 provisions\ue000 of\ue000 the\ue000 Private\ue000 Securities
Litigation\ue000 Reform\ue000 Act\ue000 of\ue000 1995\ue000 and\ue000 the\ue000Securities\ue000 Act\ue000 (Ontario)\ue000 and\ue000 include,\ue000 among\ue000 others,\ue000 statements\ue000 regarding\ue000 expected\ue000 future\ue000 compliance
with\ue000 Nasdaq\ue000 Marketplace\ue000 Rule\ue000 4350(d)\ue000 and\ue000 other\ue000 matters\ue000 that\ue000 are\ue000 not\ue000 historical\ue000 facts.

Forward-looking\ue000 statements\ue000 should\ue000 not\ue000 be\ue000 read\ue000 as\ue000 guarantees\ue000 of\ue000 future\ue000 performance\ue000 or\ue000 results,\ue000 and\ue000 will\ue000 not\ue000 necessarily\ue000 be\ue000 accurate\ue000 indications
of\ue000 whether\ue000 or\ue000 the\ue000 times\ue000 at\ue000 or\ue000 by\ue000 which\ue000 such\ue000 performance\ue000 or\ue000 results\ue000 will\ue000 be\ue000 achieved.\ue000 Undue\ue000 reliance\ue000 should\ue000 not\ue000 be\ue000 placed\ue000 on\ue000 such\ue000 statements.
Forward-looking\ue000 statements\ue000 are\ue000 based\ue000 on\ue000 information\ue000 available\ue000 at\ue000 the\ue000 time\ue000 and/or\ue000 management\u2019s\ue000 good\ue000 faith\ue000 assumptions\ue000 and\ue000 analyses\ue000 made\ue000 in
light\ue000 of\ue000 the\ue000 Company\u2019s\ue000 perception\ue000 of\ue000 historical\ue000 trends,\ue000 current\ue000 conditions\ue000 and\ue000 expected\ue000 future\ue000 developments,\ue000 as\ue000 well\ue000 as\ue000 other\ue000 factors\ue000 we
believe\ue000 are\ue000 appropriate\ue000 in\ue000 the\ue000 circumstances\ue000 and\ue000 are\ue000 subject\ue000 to\ue000 known\ue000 and\ue000 unknown\ue000 risks,\ue000 uncertainties\ue000 and\ue000 other\ue000 unpredictable\ue000 factors,\ue000 many
of\ue000 which\ue000 are\ue000 beyond\ue000 the\ue000 Company\u2019s\ue000 control,\ue000 that\ue000 could\ue000 cause\ue000 actual\ue000 events\ue000 or\ue000 results\ue000 to\ue000 differ\ue000 materially\ue000 from\ue000 such\ue000 forward-looking
statements.\ue000 Important\ue000 factors\ue000 that\ue000 could\ue000 cause\ue000 actual\ue000 results\ue000 to\ue000 differ\ue000 materially\ue000 from\ue000 the\ue000 Company\u2019s\ue000 forward-looking\ue000 statements\ue000 include,\ue000 but
may\ue000 not\ue000 be\ue000 limited\ue000 to,\ue000 the\ue000 risk\ue000 that\ue000 the\ue000 Company\ue000 and\ue000 MID\ue000 fail\ue000 to\ue000 successfully\ue000 agree\ue000 upon\ue000 any\ue000 alternative\ue000 transaction\ue000 to\ue000 the\ue000 reorganization
proposal\ue000 previously\ue000 announced\ue000 on\ue000 November\ue000 26,\ue000 2008\ue000 and\ue000 material\ue000 adverse\ue000 changes\ue000 in:\ue000 general\ue000 economic\ue000 conditions;\ue000 the\ue000 popularity\ue000 of\ue000 racing
and\ue000 other\ue000 gaming\ue000 activities\ue000 as\ue000 recreational\ue000 activities;\ue000 the\ue000 regulatory\ue000 environment\ue000 affecting\ue000 the\ue000 horse\ue000 racing\ue000 and\ue000 gaming\ue000 industries;\ue000 the
Company\u2019s\ue000 ability\ue000 to\ue000 obtain\ue000 or\ue000 maintain\ue000 government\ue000 and\ue000 other\ue000 regulatory\ue000 approvals\ue000 necessary\ue000 or\ue000 desirable\ue000 to\ue000 proceed\ue000 with\ue000 proposed\ue000 real
estate\ue000 developments;\ue000 increased\ue000 regulation\ue000 affecting\ue000 certain\ue000 of\ue000 the\ue000 Company\u2019s\ue000 non-racetrack\ue000 operations,\ue000 such\ue000 as\ue000 broadcasting\ue000 ventures;\ue000 and
the\ue000 Company\u2019s\ue000 ability\ue000 to\ue000 develop,\ue000 execute\ue000 or\ue000 finance\ue000 the\ue000 Company\u2019s\ue000 strategies\ue000 and