MI Developments Inc. announces retirement of director
August 19 2004 - 12:15PM
PR Newswire (US)
MI Developments Inc. announces retirement of director AURORA, ON,
Aug. 19 /PRNewswire-FirstCall/ -- MI Developments Inc. (TSX: MIM.A,
MIM.B; NYSE: MIM) ("MID") today announced that The Honourable
William G. Davis has retired as a director of MID. Mr. Davis
informed MID that he has been advised for personal and health
reasons that he should have less corporate involvement. Frank
Stronach, Chairman of MID, stated: "I thank Bill Davis, on behalf
of all directors, for his great contribution to MID and over the
past 20 years to many other companies in the Magna family. We wish
him good health and lots of time with his family." MID is a real
estate operating company engaged in the ownership, development,
management, leasing and acquisition of industrial and commercial
real estate properties located in North America and Europe.
Virtually all of its income-producing properties are under lease to
Magna International Inc. and its subsidiaries. MID also holds a
controlling investment in Magna Entertainment Corp. (TSX: MEC.A;
NASDAQ: MECA), North America's number one owner and operator of
horse racetracks, based on revenues, and one of the world's leading
suppliers, via simulcasting, of live racing content to the growing
inter-tract, off-track and account wagering markets. DATASOURCE: MI
Developments Inc. CONTACT: about this press release, please contact
Ed Hannah at (905) 726-7198
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