Magna Announces Fourth Quarter and 2009 Results

AURORA, Ontario, February 25, 2010 - Magna International Inc. (TSX: MG.A; NYSE: MGA) today reported financial
results for the fourth quarter and year ended December 31, 2009.

                               THREE MONTHS ENDED      YEAR ENDED DECEMBER
                                  DECEMBER 31,                 31,
                                2009         2008       2009         2008

    Sales                     $ 5,419     $ 4,836   $ 17,367     $ 23,704
    Operating income (loss)   $ (125)     $ (165)    $ (511)        $ 328
    Net income (loss)         $ (139)     $ (148)    $ (493)         $ 71
    Diluted earnings (loss)
    per share                $ (1.25)    $ (1.33)   $ (4.41)       $ 0.62

All results are reported in millions of U.S. dollars, except per share
figures, which are in U.S. dollars.

YEAR ENDED DECEMBER 31, 2009

We posted sales of $17.4 billion for 2009, a decrease of 27%
from 2008. This lower sales level was a result of decreases in our North
American and European production sales, complete vehicle assembly sales and
tooling, engineering and other sales, offset in part by an increase in Rest
of World production sales.

External production sales in North America decreased 31% or
$3.4 billion to $7.5 billion for the year ended December 31, 2009 compared to
$10.9 billion for the year ended December 31, 2008. This decrease in
production sales reflects a 32% decrease in North American vehicle production
volumes partially offset by a 1% increase in our North American average
dollar content per vehicle.

External production sales in Europe decreased 17% or $1.2
billion to $5.9 billion for the year ended December 31, 2009 compared to $7.1
billion for the year ended December 31, 2008. This decrease in production
sales reflects a 19% decrease in European vehicle production volumes
partially offset by a 2% increase in our European average dollar content per
vehicle.

Complete vehicle assembly sales decreased 47% to $1.8 billion
for 2009 compared to $3.3 billion for 2008, while complete vehicle assembly
volumes declined 55% to approximately 57 thousand units.

During 2009, operating loss was $511 million, net loss was
$493 million and diluted loss per share was $4.41, decreases of $839 million,
$564 million and $5.03, respectively, each compared to 2008.

During 2009 and 2008, we recorded a number of unusual items,
including impairment charges associated with goodwill, long-lived assets and
future tax assets, restructuring charges, foreign currency gains, net losses
on disposal of a facility, future tax charges and a curtailment gain. The
aggregate charge to net income for 2009 and 2008 related to unusual items
totalled $195 and $313 million, respectively. On a per share basis, the
aggregate net charge for unusual items totalled $1.74 and $2.75 in 2009 and
2008, respectively.

During 2009, we generated cash from operations of $621 million
before changes in non-cash operating assets and liabilities, and invested
$94 million in non-cash operating assets and liabilities. Total investment
activities for 2009 were $906 million, including $629 million in fixed asset
additions, a $227 million increase in investments and other assets and $50
million to purchase subsidiaries.

THREE MONTHS ENDED DECEMBER 31, 2009

We posted sales of $5.4 billion for the fourth quarter ended
December 31, 2009, an increase of 12% from the fourth quarter of 2008. This
higher sales level was a result of increases in our North American, European
and Rest of World production sales and complete vehicle assembly sales,
offset in part by decreases in our tooling, engineering and other sales.

External production sales in North America increased 1% or $24 million to
$2.42 billion for the fourth quarter of 2009 compared to $2.39 billion for
the fourth quarter of 2008. This increase in production sales reflects a 2%
increase in North American vehicle production volumes partially offset by a
1% decrease in our North American average dollar content per vehicle.

External production sales in Europe increased 35% or $450
million to $1.7 billion for the fourth quarter of 2009 compared to $1.3
billion for the fourth quarter of 2008. This increase in production sales
reflects a 13% increase in European vehicle production volumes combined with
a 20% increase in our European average dollar content per vehicle.

Complete vehicle assembly sales increased 7% to $512 million
for the fourth quarter of 2009 compared to $479 million for the fourth
quarter of 2008, while complete vehicle assembly volumes declined 6% to
approximately 16,000 units.

During the fourth quarter of 2009, operating loss was $125
million, net loss was $139 million and diluted loss per share was $1.25,
increases of $40 million, $9 million and $0.08, respectively, each compared
to the fourth quarter of 2008.

During the fourth quarters of 2009 and 2008, we recorded a
number of unusual items, including restructuring charges, impairment charges
associated with goodwill and long-lived assets and a loss on disposal of a
facility. The aggregate charge to net income for the fourth quarters of 2009
and 2008 related to unusual items totalled $134 million and $72 million,
respectively. On a per share basis, the aggregate net charge for unusual
items for the fourth quarters of 2009 and 2008 totalled $1.20 and $0.65,
respectively.

During the fourth quarter ended December 31, 2009, we
generated cash from operations of $267 million before changes in non-cash
operating assets and liabilities, and generated $247 million from non-cash
operating assets and liabilities. Total investment activities for the fourth
quarter of 2009 were $259 million, including $230 million in fixed asset
additions and a $29 million increase in other assets.

A more detailed discussion of our consolidated financial
results for the fourth quarter and year ended December 31, 2009 is contained
in the Management's Discussion and Analysis of Results of Operations and
Financial Position and the unaudited interim consolidated financial
statements and notes thereto, which are attached to this Press Release.

UPDATED 2010 OUTLOOK

For the full year 2010, we expect our consolidated sales to be
between $19 billion and $20 billion, based on full year 2010 light vehicle
production volumes of approximately 10.5 million units in North America and
approximately 11.4 million units in Europe. Full year 2010 average dollar
content per vehicle is expected to be between $895 and $925 in North America
and between $510 and $535 in Europe. We expect our full year 2010 complete
vehicle assembly sales to be between $1.5 billion and $1.8 billion.

In addition, we expect that full year 2010 spending for fixed
assets will be in the range of $750 million to $800 million.

This 2010 outlook assumes no significant acquisitions or divestitures. In
addition, we have assumed that foreign exchange rates for the most common
currencies in which we conduct business relative to our U.S. dollar reporting
currency will approximate current rates.

We are the most diversified global automotive supplier. We
design, develop and manufacture technologically advanced automotive systems,
assemblies, modules and components, and engineer and assemble complete
vehicles, primarily for sale to original equipment manufacturers ("OEMs") of
cars and light trucks. Our capabilities include the design, engineering,
testing and manufacture of automotive interior systems; seating systems;
closure systems; body and chassis systems; vision systems; electronic
systems; exterior systems; powertrain systems; roof systems; hybrid and
electric vehicles/systems as well as complete vehicle engineering and
assembly.

We have approximately 72,500 employees in 238 manufacturing
operations and 79 product development, engineering and sales centres in 25
countries.

We will hold a conference call for interested analysts and
shareholders to discuss our fourth quarter and year end results on Thursday,
February 25, 2010 at 7:30 a.m. EST. The conference call will be chaired by
Vincent J. Galifi, Executive Vice-President and Chief Financial Officer. The
number to use for this call is 1-800-954-0687. The number for overseas
callers is 1-212-231-2905. Please call in 10 minutes prior to the call.
We will also webcast the conference call at www.magna.com. The slide
presentation accompanying the conference call will be available on our
website Friday morning prior to the call.

For further information, please contact Louis Tonelli, Vice-President,
Investor Relations at 905-726-7035.

For teleconferencing questions, please contact Karin Kaminski at
+1-905-726-7103.

FORWARD-LOOKING STATEMENTS

The previous discussion contains statements that constitute
"forward-looking statements" within the meaning of applicable securities
legislation, including, but not limited to, statements relating to
Magnaa(euro)(TM)s expected consolidated sales, based on expected light
vehicle production in North America and Europe, North American and European
average dollar content per vehicle, complete vehicle assembly sales and
fixed asset expenditures. The forward-looking information in this Press
Release is presented for the purpose of providing information about
management's current expectations and plans and such information may not be
appropriate for other purposes. Forward-looking statements may include
financial and other projections, as well as statements regarding our future
plans, objectives or economic performance, or the assumptions underlying
any of the foregoing, and other statements that are not recitations of
historical fact. We use words such as "may", "would", "could", "should",
"will", "likely", "expect", "anticipate", "believe", "intend", "plan",
"forecast", "outlook", "project", "estimate" and similar expressions
suggesting future outcomes or events to identify forward-looking statements.
Any such forward-looking statements are based on information currently
available to us, and are based on assumptions and analyses made by us in
light of our experience and our perception of historical trends, current
conditions and expected future developments, as well as other factors we
believe are appropriate in the circumstances. However, whether actual results
and developments will conform with our expectations and predictions is
subject to a number of risks, assumptions and uncertainties, many of which
are beyond our control, and the effects of which can be difficult to predict,
including, without limitation: the potential for a slower than anticipated
economic recovery or a deterioration of economic conditions; low production
volumes and sales levels; the financial condition
and credit worthiness of some of our OEM customers, including the potential
that such customers may not make, or may seek to delay or reduce, payments
owed to us; the financial condition of some of our suppliers and the risk of
their insolvency, bankruptcy or financial restructuring; the highly
competitive nature of the automotive parts supply business; our dependence on
outsourcing by our customers; the termination or non renewal by our customers
of any material contracts; our ability to identify and successfully exploit
shifts in technology; restructuring, downsizing and/or other significant
non-recurring costs; impairment charges; our ability to successfully grow our
sales to non-traditional customers; unfavourable product or customer mix;
risks of conducting business in foreign countries, including China, India,
Brazil, Russia and other developing markets; our ability to quickly shift our
manufacturing footprint to take advantage of lower cost manufacturing
opportunities; disruptions in the capital and credit markets; fluctuations in
relative currency values; our ability to successfully identify, complete and
integrate acquisitions; pricing pressures, including our ability to offset
price concessions demanded by our customers; warranty and recall costs;
product liability claims in excess of our insurance coverage; changes in our
mix of earnings between jurisdictions with lower tax rates and those with
higher tax rates, as well as our ability to fully benefit tax losses; other
potential tax exposures; legal claims against us; work stoppages and labour
relations disputes; changes in laws and governmental regulations; costs
associated with compliance with environmental laws and regulations; potential
conflicts of interest involving our indirect controlling shareholder, the
Stronach Trust; and other factors set out in our Annual Information Form
filed with securities commissions in Canada and our annual report on Form
40-F filed with the United States Securities and Exchange Commission, and
subsequent filings. In evaluating forward-looking statements, we caution
readers not to place undue reliance on any forward-looking statements and
readers should specifically consider the various factors which could cause
actual events or results to differ materially from those indicated by such
forward-looking statements. Unless otherwise required by applicable
securities laws, we do not intend, nor do we undertake any obligation, to
update or revise any forward-looking statements to reflect subsequent
information, events, results or circumstances or otherwise.

For further information about Magna, please see our website at
www.magna.com. Copies of financial data and other publicly filed
documents are available through the internet on the Canadian Securities
Administrators' System for Electronic Document Analysis and Retrieval
(SEDAR) which can be accessed at www.sedar.com and on the United
States Securities and Exchange Commission's Electronic Data Gathering,
Analysis and Retrieval System (EDGAR) which can be accessed at
www.sec.gov.

For further information: Louis Tonelli, Vice-President, Investor
Relations at +1-905-726-7035; For teleconferencing questions, please contact
Karin Kaminski at +1-905-726-7103

Magna International Inc., 337 Magna Drive, Aurora, Ontario L4G 7K1, Tel: +1-905-726-2462, Fax: +1-905-726-7164; For further information: Louis Tonelli, Vice-President, Investor Relations at +1-905-726-7035; For teleconferencing questions, please contact Karin Kaminski at +1-905-726-7103