Magna International donates US$100,000 to South Asia disaster relief

TORONTO, Dec. 31, 2004 -- Frank Stronach, chairman of the board of Magna International, today announced that the company will donate US$100,000 to the Canadian Red Cross to provide relief for the victims of the earthquake and tsunami catastrophe in South Asia.

"In making this donation, I am conscious that no doubt several of our 80,000 employees in 23 countries have relatives and friends in Indonesia, Sri Lanka, India, Thailand, and other nations affected by the tragedy," Mr. Stronach said.

"This disaster is truly global in scale. It confirms that nature respects no borders. All of us are affected, and the least we can do, as individuals and companies, is to join hands with others in providing cash to feed and care for the people whose lives have been devastated."

Mr. Stronach added: "As a Canadian, I am proud to note that the response of our diverse nation has been so spontaneous and generous."