Nissan Informs Magna of its Intention to Assemble Future Infiniti Compact Vehicle In-House

AURORA, ON--Oct. 19, 2012: Nissan Motor Co. Ltd. today informed Magna of Nissan's intention to assemble its future premium compact Infiniti vehicle in-house. In May 2012, Magna and Infiniti had announced a memorandum of understanding relating to assembly of the vehicle by Magna Steyr on a contract manufacturing basis.

"Although we would have liked to see the assembly of Infiniti's new compact vehicle realized at Magna Steyr, we are pleased that Magna remains an important supplier for Nissan Motor Co. Ltd.," said Gunther Apfalter, President of Magna Steyr and Magna International Europe. "Nissan's project team has affirmed their willingness to work with Magna Steyr if future contract assembly opportunities arise, and we look forward to supporting them as needed."

About Magna International
Magna is a leading global automotive supplier with 296 manufacturing operations and 88 product development, engineering and sales centres in 26 countries. Our 115,000 employees are focused on delivering superior value to our customers through innovative processes and World Class Manufacturing. Our product capabilities include body, chassis, interiors, exteriors, seating, powertrain, electronics, mirrors, closures and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit the website at Magna.