AURORA, Ontario, September 21 /PRNewswire/ --     Magna International Inc. (TSX: MG.A; NYSE: MGA) today announced the
preliminary results of its offer to purchase up to U.S.$1,536,600,000 in
value of its Class A Subordinate Voting Shares, which expired at 5:00 p.m.
(Toronto time) on September 20, 2007.

Magna has taken up and will purchase for cancellation all the Class A
Subordinate Voting Shares validly tendered pursuant to the offer (11,908,421
shares), at a purchase price of U.S.$91.50 per Class A Subordinate Voting
Share. These shares represent approximately 9.2% of Magna's outstanding Class
A Subordinate Voting Shares as of September 20, 2007.

Magna and Computershare (the depositary under the offer) expect the final
determination of the number of Class A Subordinate Voting Shares to be
purchased for cancellation to be made on or before September 25, 2007.
Payment for the Class A Subordinate Voting Shares purchased pursuant to the
offer will be made on September 25, 2007. The purchase will be funded from
the proceeds of the treasury issuance of 20,000,000 Class A Subordinate
Voting Shares pursuant to the plan of arrangement involving Russian Machines,
which was completed on September 20, 2007.

We are the most diversified automotive supplier in the world. We design,
develop and manufacture automotive systems, assemblies, modules and
components, and engineer and assemble complete vehicles, primarily for sale
to original equipment manufacturers of cars and light trucks in North
America, Europe, Asia, South America and Africa. Our capabilities include the
design, engineering, testing and manufacture of automotive interior systems;
seating systems; closure systems; metal body and chassis systems; vision
systems; electronic systems; exterior systems; powertrain systems; roof
systems; as well as complete vehicle engineering and assembly.

We have approximately 83,000 employees in 229 manufacturing operations
and 62 product development and engineering centres in 23 countries.

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.
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", "will", "likely", "expect", "anticipate",
"believe", "intend", "plan", "forecast", "project", "estimate" and similar
expressions to identify forward-looking statements. Any such forward-looking
statements 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. These risks, assumptions
and uncertainties include, without limitation, those related to the strategic
alliance with Russian Machines, including: the risk that the benefits, growth
prospects and strategic objectives expected to be realized from the
investment by, and strategic alliance with, Russian Machines may not be fully
realized, realized at all or may take longer to realize than expected; we
will be governed by a board of directors on which the Stronach Trust and
Russian Machines each, indirectly, have the right to designate an equal
number of nominees, in addition to the current co-chief executive officers,
with the result that we may be considered to be effectively controlled,
indirectly, by the Stronach Trust and Russian Machines for so long as the
governance arrangements remain in place between them; our Russian strategy
involves making investments and carrying on business and operations in
Russia, which will expose us to the political, economic and regulatory risks
and uncertainties of that country; the possibility that Russian Machines may
exercise its right to withdraw its investment in Newco and Newco II and exit
from the governance arrangements in connection with the Arrangement at any
time after two years; the possibility that the Stronach Trust may exercise
its right to require Russian Machines to withdraw its investment in Newco and
Newco II and exit from such arrangements at any time after three years; and
the possibility that Russian Machines' lender may require Russian Machines to
withdraw its investment in Newco and Newco II and exit from such arrangements
at any time if such lender is entitled to realize on its loan to Russian
Machines. In addition to the risks, assumptions and uncertainties related to
the proposed strategic alliance, there are additional risks and uncertainties
relating generally to Magna and its business and affairs, including the
impact of: declining production volumes and changes in consumer demand for
vehicles; a reduction in the production volumes of certain vehicles, such as
certain light trucks; the termination or non-renewal by our customers of any
material contracts; our ability to offset increases in the cost of
commodities, such as steel and resins, as well as energy prices; fluctuations
in relative currency values; our ability to offset price concessions demanded
by our customers; our dependence on outsourcing by our customers; our ability
to compete with suppliers with operations in low cost countries; changes in
our mix of earnings between jurisdictions with lower tax rates and those with
higher tax rates, as well as our ability to fully benefit tax losses; other
potential tax exposures; the financial distress of some of our suppliers and
customers; the inability of our customers to meet their financial obligations
to us; our ability to fully recover pre-production expenses; warranty and
recall costs; product liability claims in excess of our insurance coverage;
expenses related to the restructuring and rationalization of some of our
operations; impairment charges; our ability to successfully identify,
complete and integrate acquisitions; risks associated with program launches;
legal claims against us; risks of conducting business in foreign countries;
unionization activities at our facilities; work stoppages and labour
relations disputes; changes in laws and governmental regulations; costs
associated with compliance with environmental laws and regulations; potential
conflicts of interest involving our controlling shareholder, the Stronach
Trust; 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, 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.