MAGNA INTERNATIONAL INC.
337 Magna Drive
Aurora, ON, Canada L4G 7K1
Magna responds to OSC notice of hearing, believes shareholders should be permitted to decide the outcome of
AURORA, ON, June 16, 2010 - Magna International Inc. (TSX: MG.A, NYSE: MGA) today responded to the
Ontario Securities Commission's June 15, 2010 announcement that it will convene a hearing to determine whether
it is in the public interest to prevent Magna's proposed transaction to eliminate the company's dual class share
structure from proceeding. The hearing is scheduled for June 23, 2010.
The proposed transaction would be effected by way of a court-approved plan of arrangement, and be subject to
the approval of a majority of Magna's minority Class A shareholders. The Magna shareholder vote is scheduled
to take place at a special meeting on June 28, 2010.
"We strongly believe our existing disclosure is complete, that Magna's board undertook a proper process, and
that our shareholders should not be denied the opportunity to decide the outcome of the proposed transaction,
"said Vincent J. Galifi, Executive Vice President and Chief Financial Officer of Magna. "Nonetheless, we will
work to address the OSC's concerns though we do not believe any additional information we might disclose will
change shareholders' views of the value this transaction can unlock for holders of Magna's Class A shares."
Mr. Galifi added, "Based on all of our discussions to date, the vast majority of Magna's shareholders are having
no difficulty in understanding the transaction. Moreover, the market reaction has been very positive, indicating
that most shareholders view the transaction as one that enhances value for them. Shareholders who want to see
this transaction proceed are encouraged to express their views to the OSC and vote their shares in advance of
the hearing," said Mr. Galifi.
Magna has been advised that more than 24% of its shares outstanding have been v