MI Developments notice of release of third quarter 2009 results

AURORA, ON, Nov. 2 /PRNewswire-FirstCall/ - MI Developments Inc. ("MID") (TSX:
MIM.A, MIM.B; NYSE: MIM) will announce its financial results for the third
quarter ended September 30, 2009 on Tuesday, November 10, 2009 after the close
of the market.

About MID

MID is a real estate operating company engaged primarily in the acquisition,
development, construction, leasing, management, and ownership of a
predominantly industrial rental portfolio leased primarily to Magna
International Inc. and its subsidiaries in North America and Europe. MID also
acquires land that it intends to develop for mixed-use and residential
projects. MID holds a majority equity interest in Magna Entertainment Corp.
("MEC"), an owner and operator of horse racetracks, and a supplier, via
simulcasting, of live horseracing content to the inter-track, off-track and
account wagering markets. MEC has filed a voluntary petition for
reorganization under Chapter 11 of the U.S. Bankruptcy Code.

SOURCE MI Developments Inc.

Rocco Liscio, MID's Executive Vice-President and Chief Financial Officer, at
(905) 726-7507