Magna confirms offer for Opel

AURORA, ON, May 22, 2009 -- Magna International Inc. (TSX: MG.A, NYSE: MGA) today confirmed that, together with Sberbank Rossii ("Sberbank"), it has submitted a non-binding indicative offer for Opel. The offer contemplates a total investment by Magna and Sberbank of Euro 700 million, a portion of which would be guaranteed by the German government. Under the offer, the proposed equity interests in Opel would be: General Motors - 35%; Sberbank - 35%; Magna - 20%; and Opel employees - 10%.

General Motors and the German government are reviewing and considering offers submitted this week and will determine the next steps in the sale process.

There is no assurance that any transaction will result from Magna's current involvement.

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; as well as complete vehicle engineering and assembly.

We have approximately 70,000 employees in 240 manufacturing operations and 86 product development, engineering and sales centres in 25 countries.