Cosma International Expands Its Mexican Operations

TROY, Mich.--June 1, 2004--Cosma International ("Cosma"), a wholly owned subsidiary of Magna, today announced the acquisition of a large sheet metal stamping facility in the Ramos Arizpe area of Mexico.

This 350,000 sq. ft. facility will support Cosma's growing need for press and assembly capacity in the Mexican automotive market, particularly for products such as large welded assemblies and exterior body panels. This will bring the total number of facilities that Cosma operates in Mexico to five.

"We are proud to be actively pursuing opportunities within Mexico's growing economy, and to welcome more employees to our global Cosma family," commented Horst Prelog, President of Cosma. "Our customers have demonstrated their desire to have Cosma as a partner on strategic vehicle programs of the future, and our Mexican operations have been direct beneficiaries of these partnerships."

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About Cosma:

Cosma International manufactures a comprehensive range of metal body systems, components, assemblies and modules, including complete vehicle frames, chassis systems, and body-in-white systems, using a variety of processes, including hydroforming, stamping, and rollforming. Cosma has 37 manufacturing facilities and 11 engineering and testing facilities worldwide.

About Magna:

Magna International Inc., the most diversified automotive supplier in the world, designs, develops and manufactures automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Mexico, South America and Asia. Magna's products include: automotive interior and closure components, systems and modules through Intier Automotive Inc.; metal body systems, components, assemblies and modules through Cosma International; exterior and interior mirror and engineered glass systems through Magna Donnelly; fascias, front and rear end modules, plastic body panels, exterior trim components and systems, greenhouse and sealing systems, roof modules and lighting components through Decoma International Inc.; various engine, transmission and fueling systems and components through Tesma International Inc.; a variety of drivetrain components through Magna Drivetrain; and complete vehicle engineering and assembly through Magna Steyr.

Magna has approximately 75,000 employees in 210 manufacturing operations and 49 product development and engineering centers in 22 countries.