  The dominant long-distance contributions to the exclusive radiative decays $B
\to \rho (\omega) + \gamma$ involve photon emission from the light quarks at
large distances, which cannot be treated perturbatively. We point out that this
emission can be described in a theoretically consistent way as the magnetic
excitation of quarks in the QCD vacuum and estimate the corresponding
parity-conserving and parity-violating amplitudes using the light-cone QCD sum
rule approach. These are then combined with the corresponding short-distance
contribution from the magnetic moment operator in the same approach, derived
earlier, to estimate the decay rates $\Gamma (B \to \rho(\omega) + \gamma)$.
The implications of this result for the determination of the
Cabibbo-Kobayashi-Maskawa (CKM) matrix elements in radiative $B$ decays are
worked out.
