Magna Enters Into New Global Credit Facility

AURORA, Ontario, July 11, 2011 -

Magna International Inc. (TSX: MG, NYSE: MGA) today
announced that it has entered into a U.S.$2.25 billion four-year
revolving credit facility with a group of lenders. The facility,
which matures on July 8, 2015, replaces an approximately U.S.$2.0
billion revolving credit facility that was set to expire on July
31, 2012, and will be available to Magna and its subsidiaries in
North America, Europe and Asia.  The Bank of Nova Scotia,
Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner
& Smith Incorporated are co-lead arrangers and co-bookrunners
for the facility.

About Magna

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 over 102,000 employees in 263 manufacturing operations
and 84 product development, engineering and sales centres in 26
countries.

Contact

For further information, please contact Louis Tonelli,
Vice-President, Investor Relations at +1-905-726-7035.

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