Magna International Voluntarily Provides Additional Disclosure in Response to OSC

By Magna International Inc., PRNE
Wednesday, June 16, 2010

AURORA, Canada, June 17, 2010 - Magna International Inc. (TSX: MG.A, NYSE:
MGA) announced that further to its press release made yesterday and in
response to the Ontario Securities Commission's Notice of Hearing dated June
15, 2010
, Magna has voluntarily made publicly available the presentations
prepared by CIBC World Markets Inc. for the Special Committee of the Board of
Directors in connection with its review of the proposed transaction as well
as the report prepared by PricewaterhouseCoopers LLP as to the estimated fair
market value of Magna's vehicle electrification business (redacted for
commercially sensitive information).

Magna strongly believes that its existing disclosure is entirely
appropriate and contains all information necessary to enable minority
shareholders to make a reasoned judgment about the transaction. Nevertheless,
Magna is providing this additional disclosure in response to the concerns
expressed by OSC staff and with a view to providing such information
sufficiently in advance of the shareholder vote scheduled to take place at a
special meeting on June 28, 2010.

This additional disclosure is available on Magna's website at
www.magna.com; on the SEDAR website administered by the Canadian
securities regulatory authorities at www.sedar.com; and on the EDGAR
website administered by the U.S. Securities and Exchange Commission at
www.sec.gov. Copies of CIBC's presentations and PwC's valuation report
will also be sent to shareholders upon request by contacting the Laurel Hill
Advisory Group by e-mail at assistance@laurelhill.com or by telephone at
+1-888-348-2398 (toll-free within Canada or the U.S.) or +1-416-637-4661
(for collect calls outside Canada and the U.S.).

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 approximately
74,000 employees in 240 manufacturing operations and 76 product development,
engineering and sales centres in 25 countries.

FORWARD-LOOKING STATEMENTS

————————–

This Press Release contains statements that constitute "forward-looking
statements" within the meaning of applicable securities legislation,
including, but not limited to, statements relating to the results and the
potential benefits expected to be achieved from the completion of the
transactions contemplated by the proposed Arrangement, including the
increased marketability and improved liquidity of the Class A Subordinate
Voting Shares of Magna and the potential for a reduction or the elimination
of any dual class share structure discount associated with the market price
of the Class A Subordinate Voting Shares of Magna. The forward-looking
information in this Press Release is presented for the purpose of providing
information about Magna's current expectations relating to the transactions
contemplated by the Arrangement and such information may not be appropriate
for other purposes. Forward-looking statements may also include 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, risks, assumptions
and uncertainties related to the consummation of the Arrangement, including,
the outcome of the Ontario Securities Commission hearing, shareholder
approval, Court approval, the satisfaction or waiver of the conditions to
complete the transactions contemplated by the Arrangement, and the
termination of the transaction agreements; future growth prospects for
electric vehicles; the market value and trading price of the Class A
Subordinate Voting Shares; and other factors set out in our management
information circular/proxy statement dated May 31, 2010, 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 any forward-looking
statements in this Press Release, we caution readers not to place undue
reliance on any forward-looking statements. Readers should specifically
consider the various factors which could cause actual events or results to
differ materially from those indicated by our 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 contained in this Press Release to reflect subsequent
information, events, results or circumstances or otherwise.

For further information: Vincent J. Galifi, Executive Vice-President and
Chief Financial Officer at +1-905-726-7100 or Louis Tonelli, Vice-President,
Investor Relations at +1-905-726-7035

For further information: Vincent J. Galifi, Executive Vice-President and Chief Financial Officer at +1-905-726-7100 or Louis Tonelli, Vice-President, Investor Relations at +1-905-726-7035

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