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Magna Announces Triam Offer Successfull

13 May 1998

Magna Announces Triam Offer Successfull

    AURORA, Ont., May 13 /CNW-PRN/ - Magna International Inc. (TSE:MG.A,
MG.B; ME:MG.A; NYSE:MGA) announced today that 6,070,114 common shares of TRIAM
Automotive Inc. (``Triam''), representing approximately 90.9% of Triam's
outstanding common shares, have been deposited pursuant to its previously
announced offer to purchase all of the common shares of Triam for $1.50 cash
and 0.0943 of a Magna Class A Subordinate Voting Share for each Triam share.
As all of the terms and conditions under the offer have been complied with
prior to the expiry of the offer at 10:00 pm on May 12, 1998, Magna will take
up and pay for all of the Triam common shares which have been validly
deposited under the offer.  Magna also intends to exercise its statutory
rights of compulsory acquisition to acquire the remaining issued and
outstanding Triam common shares in accordance with the provisions of
applicable law.
    Magna, one of the most diversified automotive suppliers in the world,
designs, develops and manufactures automotive systems, assemblies and
components primarily for sale to original equipment manufacturers of cars and
light trucks in North America, Mexico and Europe.  Magna's products include
exterior decorative systems, interior products including seating systems, door
and other panels, and sound insulation systems, stamped and welded metal parts
and assemblies, sunroofs, electro-mechanical devices and assemblies, and
through Decoma International Inc. a variety of plastic parts, including body
panels and fascias and through Tesma International Inc. various engine,
powertrain and fueling and cooling components.
    Magna has over 41,000 employees in 146 manufacturing operations and 27
product development and engineering centres in 16 countries.

SOURCE  Magna International Inc.