Magna Plan of Arrangement Approved

AURORA, Canada, August 17, 2010 - Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that the
Ontario Superior Court has approved the previously announced plan of
arrangement to eliminate Magna's dual class share structure. The decision of
the Ontario Superior Court followed a hearing held on August 12 and 13, 2010.
The Superior Court found that the arrangement is fair and reasonable.

"Today's decision by the Superior Court affirms our position that the
claims of the dissident minority shareholders are without merit," said
Vincent J. Galifi, Executive Vice President and Chief Financial Officer of
Magna. "We believe that our shareholders, who by a large majority voted to
support the proposed transaction, will be very pleased that the Court
respected and upheld their vote."

It is unknown whether certain dissident minority shareholders of Magna
intend to appeal the decision. Ordinarily, an appeal must be filed with the
Ontario Superior Court within 30 days of the court decision.

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 76,000 employees in 242 manufacturing operations
and 76 product development, engineering and sales centres in 25 countries.

FORWARD-LOOKING STATEMENTS

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This Press Release contains statements that constitute "forward-looking
statements" within the meaning of applicable securities legislation,
including, but not limited to, statements about our intentions with respect
to an appeal of the Ontario Superior Court's decision regarding the fairness
and reasonableness of the proposed arrangement. The forward-looking
information in this Press Release is presented for the purpose of providing
information about Magna's current expectations relating to the proposed
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 proposed arrangement, including, the outcome of any
appeal(s) of the decision of the Ontario Superior Court, 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