Magna confirms record date for its quarterly interest payment to holders of 8.65% Series A Preferred Securities due September 30, 2048

AURORA, ON, Sept. 15 -- Magna International Inc. (TSX: MG.A, MG.B; NYSE: MGA) today confirmed that its quarterly interest payment with respect to its outstanding 8.65% Series A Preferred Securities due September 30, 2048 ("Series A Securities") (TSX:MG.PRA) will be payable on September 30, 2004 to securityholders of record on September 15, 2004. The Series A Securities were called for redemption on August 10, 2004. The Series A Securities will be redeemed at a price equal to 100% of the principal amount of the Series A Securities redeemed plus, for securityholders of record on September 15, 2004, accrued and unpaid interest thereon (CDN $0.54507 per CDN $25.00 principal amount of the Series A Securities) to, but excluding, September 30, 2004, the date of redemption.

Magna, 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. Our 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 77,000 employees in 215 manufacturing operations and 48 product development and engineering centres in 22 countries.

  For further information about Magna, please see our website at
  www.magna.com. Copies of financial data and other publicly filed

documents are available through the internet on the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com.