Magna Plan of Arrangement to be Implemented

AURORA, Canada, August 31, 2010 - Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that,
after the close of markets on August 30, 2010, the Ontario Divisional Court
dismissed the appeal of certain dissident minority shareholders of Magna and
upheld the decision of the Ontario Superior Court approving the previously
announced plan of arrangement to eliminate Magna's dual-class share
structure. The decision of the Divisional Court followed a hearing held on
August 26, 2010.

As Magna has been notified that the dissident shareholders do not intend
to appeal the Divisional Court's decision, Magna expects to implement the
arrangement later today. Upon closing, Magna's Class A Subordinate Voting
Shares will be redesignated as 'common shares'. Magna's common shares will
trade under the symbol 'MG' on the Toronto Stock Exchange and will continue
to trade under the symbol 'MGA' on the New York Stock Exchange.

"We are very pleased with the Court's decision and that we are finally in
a position to close the arrangement, which has received strong support from
Magna's shareholders," said Vince Galifi, Executive Vice-President and Chief
Financial Officer. "With the transaction completed, we can refocus on
pursuing our long-term growth strategy, including further investments in both
innovation and emerging markets, in order to continue to serve our customers
around the world."

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 expectations regarding
timing of implementation of the proposed arrangement and pursuit of our
long-term growth strategy. 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 our priorities
following its implementation 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, such as the satisfaction or
waiver of the conditions to complete the transactions contemplated by the
arrangement; future growth prospects for electric vehicles; risks of
conducting business in foreign countries, including China, India, Brazil,
Russia and other developing markets; 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: Vince 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: Vince 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