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PARTY TIME: Jay-Z

STARS INCLUDING Beyoncé celebrated with Jay-Z last night (July 4) after his highly-anticipated new album was exclusively released to critical acclaim.

The rapper's 12th studio album Magna Carta Holy Grail was hailed as 'epic' and 'timeless' by the mainstream press giving Jay more than one reason to celebrate.

Calling on his closest music pals, including wife Bey, the 43-year-old threw a party at a warehouse in Brooklyn, New York.

Producer Timbaland, who appears on the album, and Nick Cannon were among the celebrity guests as were fellow rapper Busta Rhymes and former 3LW songstress Adrienne Bailon.

Beyonce has collaborated with husband Jay on track titled Part II (On The Run), which is a follow-up to their 2002 duet 03 Bonnie & Clyde. The album also features collaborations with singer Justin Timberlake.

"The music was more than worth the wait. With platinum status guaranteed even before his album goes on sale July 9, he could have just mailed it in. But he stays on top, because he refuses to do anything less than epic," wrote USA Today.

MTV added: "If Magna Carta proves anything it's that no matter how futuristic your music distribution methods becomes, banging beats and choice rhymes will always remain timeless."

The album became available for eligible Samsung users who have already downloaded the #magnacarta app on their mobile phones.

The rest of Justin, Jay-Z and Beyoncé fans will have to wait until Tuesday, July 9, to buy a copy of the album.