Magna Amends its Normal Course Issuer Bid to Permit Purchases by Way of Private Agreements

   Magna Amends its Normal Course Issuer Bid to Permit Purchases by Way of
                              Private Agreements

  PR Newswire

  AURORA, Ontario, March 22, 2013

AURORA, Ontario, March 22, 2013 /PRNewswire/ --

Magna International Inc. (TSX: MG) (NYSE: MGA) today announced that it has
amended its current Normal Course Issuer Bid (the "Bid") to allow for
purchases outside the facilities of the Toronto Stock Exchange ("TSX") and the
New York Stock Exchange ("NYSE") pursuant to exemption orders issued by a
securities regulatory authority. Under the amended terms of the Bid, we may
continue to purchase common shares under the Bid through the facilities of the
TSX or the NYSE but may also purchase Common Shares by way of private
agreements under an issuer bid exemption order issued by a securities
regulatory authority.

The Ontario Securities Commission ("OSC") has issued an issuer bid exemption
order permitting us to make private agreement purchases from two arm's length
third-party sellers. Any purchases of our Common Shares made by way of any
such private agreement will be at a discount to the prevailing market price,
may be made in tranches over time, and must otherwise comply with the terms of
the OSC order, including that: only one such purchase is permitted per
calendar week; any such purchase must occur prior to the Bid's expiry on
November 12, 2013; and the maximum number of Common Shares which may be
purchased by way of all such private agreements cannot exceed 4,000,000, being
one-third of the total number of Common Shares which may be purchased under
the Bid. The maximum number of Common Shares purchased in any weekly tranche
by way of private agreement will not exceed 750,000. All Common Shares
purchased by way of private agreement will be included in computing the number
of Common Shares purchased under our Bid, and information regarding each
purchase, including the number of Common Shares purchased and aggregate price
paid, will be available on the System for Electronic Document Analysis and
Retrieval (SEDAR) following the completion of any such purchase.

Subject to regulatory requirements, the actual number of Common Shares to be
purchased under the Bid, whether by way of any such private agreement or
otherwise, and the timing of any such purchases will continue to be determined
by us having regard to future price movements, our determination that such
purchases would be an appropriate use of corporate funds and in the best
interests of the Corporation, and other factors. All purchases will be subject
to our normal trading blackouts.

ABOUT MAGNA

We are a leading global automotive supplier with 313 manufacturing operations
and 88 product development, engineering and sales centres in 29 countries. Our
119,000 employees are focused on delivering superior value to our customers
through innovative processes and World Class Manufacturing. Our product
capabilities include producing body, chassis, interiors, exteriors, seating,
powertrain, electronics, mirrors, closures and roof systems and modules, as
well as complete vehicle engineering and contract manufacturing. For further
information about Magna, visit our website at http://www.magna.com .

FORWARD-LOOKING STATEMENTS

This press release may contain statements that, to the extent that they are
not recitations of historical fact, constitute "forward-looking statements"
within the meaning of applicable securities legislation, including, but not
limited to, future purchases of our Common Shares under the Normal Course
Issuer Bid or pursuant to private agreements under an issuer bid exemption
order issued by a securities regulatory authority. 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. 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 to 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. These risks,
assumptions and uncertainties include, without limitation, the impact of: the
potential for a deterioration of economic conditions or an extended period of
economic uncertainty; liquidity risks; risks arising due to the failure of a
major financial institution; fluctuations in relative currency values; legal
claims and/or regulatory actions against us; the unpredictability of, and
fluctuation in, the trading price of our Common Shares; changes in laws and
governmental regulations; 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:

please contact 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.

(MG. MGA)
 
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