Mr. Don Walker reports

MAGNA ANNOUNCES FIRST QUARTER RESULTS

Magna International Inc. today released financial results for the first quarter ended March 31, 2013.

Three months ended March 31, 2013

The company posted sales of $8.36-billion for the first quarter ended March 31, 2013, an increase of 9 per cent over the first quarter of 2012. The company achieved this sales increase in a period when vehicle production increased 1 per cent in North America and decreased 9 per cent in Europe, each relative to the first quarter of 2012. The company's North American, European and rest-of-world production sales, as well as tooling, engineering and other sales, all increased in the first quarter of 2013 relative to the comparable quarter in 2012.

Complete vehicle assembly sales increased 33 per cent to $798-million for the first quarter of 2013 compared with $599-million for the first quarter of 2012, while complete vehicle assembly volumes increased 25 per cent to approximately 37,000 units.

During the first quarter of 2013, income from operations before income taxes was $457-million, net income attributable to Magna International was $369-million and diluted earnings per share were $1.57, increases of $18-million, $26-million and 11 cents, respectively, each compared with the first quarter of 2012.

During the first quarter ended March 31, 2013, the company generated cash from operations of $607-million before changes in non-cash operating assets and liabilities and invested $456-million in non-cash operating assets and liabilities. Total investment activities for the first quarter of 2013 were $242-million, including $194-million in fixed asset additions and $48-million in investments and other assets.

A more detailed discussion of the company's consolidated financial results for the first quarter ended March 31, 2013, is contained in the management's discussion and analysis of results of operations and financial position, and the unaudited interim consolidated financial statements and notes thereto.

                                                       Q1 2013  Q1 2012

Sales                                                   $8,361   $7,666
Adjusted EBIT (1)                                         $467     $444
Income from operations before income taxes                $457     $439
Net income attributable to Magna International            $369     $343
Diluted earnings per share                               $1.57    $1.46

(1) Adjusted EBIT is the measure of segment profit or loss as reported 
in the company's attached unaudited interim consolidated financial 
statements. Adjusted EBIT represents income from operations before 
income taxes; interest expense, net; and other expense, net.

Dividends

Yesterday, the company's board of directors declared a quarterly dividend of 32 cents with respect to the company's outstanding common shares for the quarter ended March 31, 2013. This dividend is payable on June 17, 2013, to shareholders of record on May 31, 2013.

Updated 2013 outlook

                                                                                                                                                                                                                                                      
                 LIGHT VEHICLE PRODUCTION (UNITS)
North America                                        15.9 million
Europe (1)                                           18.4 million
Production sales
North America                              $15.7 to $16.1-billion
Europe                                       $9.3 to $9.6-billion
Rest of world                                $2.2 to $2.5-billion
Total production sales                     $27.2 to $28.2-billion
Complete vehicle assembly sales              $2.8 to $3.1-billion
Total sales                                $32.6 to $34.0-billion
Operating margin (2), (3)         Middle to high 5-per-cent range
Tax rate (2)                            Approximately 24 per cent
Capital spending                       Approximately $1.4-billion

(1) Beginning in the first quarter of 2013, the company discloses
total European light vehicle production rather than Western
European light vehicle production.
(2) Excluding other expense, net.
(3) Excluding $158-million amortization of intangibles related to
acquisition of E-Car.

In this 2013 outlook, in addition to 2013 light vehicle production, the company has assumed no material acquisitions or divestitures. In addition, it has assumed that foreign exchange rates for the most common currencies in which it conducts business relative to its United States dollar reporting currency will approximate current rates.

The company will hold a conference call for interested analysts and shareholders to discuss its first-quarter results on Friday, May 10, 2013, at 2 p.m. EDT. The conference call will be chaired by Don Walker, chief executive officer. The number to use for this call is 1-800-728-2056. The number for overseas callers is 1-416-641-6705. Please call in at least 10 minutes prior to the call. The company will also webcast the conference call at its website. The slide presentation accompanying the conference call will be available on the company's website Friday afternoon prior to the call.

We seek Safe Harbor.