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A new open age race for Magic Millions graduates will be run at the Gold Coast from next year.

Magic Millions has announced the introduction of a new race open to past graduates of Magic Millions sales that were paid up for the Magic Millions race series.

The 2003 Magic Milliions carnival in January will feature a $100,000 open age race over 1400 metres restricted to Magic Millions graduates who have paid up previously for the race series.

In 2004 and 2005 the prizemoney for this race will increase to $400,000.

Magic Millions says the new races emphasises the commitment of the sales company to increasing overall prizemoney available for sale graduates and the return back to buyers.

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