Magna Announces Outlook

AURORA, Canada, January 13 - Magna International Inc. (TSX: MG.A; NYSE: MGA) announced today its
financial outlook for 2010. All amounts are in U.S. dollars.

For the full year 2010, we expect consolidated sales to be between $19
.5 billion and $20.5 billion, based on full year 2010 light vehicle
production volumes of approximately 10.3 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 $545 and $570 in Europe. We expect full year 2010
complete vehicle assembly sales to be between $1.6 billion and $1.9 billion.

In addition, we expect that our full year 2010 spending for fixed
assets will be in the range of $750 million to $800 million. This amount
reflects continuing investment to support new and replacement business in
our traditional markets as well as investment to expand into high-growth
emerging markets.

In this 2010 outlook, in addition to 2010 light vehicle production
volumes, we have assumed 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 year end 2009 rates.

We are the most diversified global automotive supplier. We design,
develop and manufacture technologically advanced 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 72,000 employees in 240 manufacturing operations
and 85 product development, engineering and sales centres in 25 countries.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release constitute "forward-looking
statements" within the meaning of applicable securities legislation,
including, but not limited to, statements relating to Magna's expected
consolidated sales, 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 an extended global recession, including its
impact on our liquidity; the persistence of low production volumes and
sales levels; restructuring of the global automotive industry and the
impact on 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 distress of
some of our suppliers and the risk of their insolvency, bankruptcy or
financial restructuring; restructuring and/or downsizing costs related to
the rationalization of some of our operations; impairment charges; shifts
in technology; our ability to successfully grow our sales to non-
traditional customers; a reduction in the production volumes of certain
vehicles, such as certain light trucks; our dependence on outsourcing by
our customers; risks of conducting business in foreign countries, including
Russia, India and China; our ability to quickly shift our manufacturing
footprint to take advantage of lower cost manufacturing opportunities; the
termination or non renewal by our customers of any material contracts;
fluctuations in relative currency values; our ability to successfully
identify, complete and integrate acquisitions; the continued exertion of
pricing pressures by our customers and our ability to offset price
concessions demanded by our customers; the continuation, and impact, of
government financial intervention in the automotive industry; disruptions
in the capital and credit markets; 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: Vince Galifi at +1-(905)-726-7100

For further information: Vince Galifi at +1-(905)-726-7100/