Magna Steyr Expands Presence in India

PUNE, INDIA, January 18, 2007 — Magna Steyr, an operating unit of Magna International Inc., is expanding its presence in India by opening a new engineering and research & development office in Pune. The new office currently accommodates 70 employees, and Magna Steyr plans to recruit approximately 200 additional automotive engineers in the next few months to enhance its global Engineering and Research & Development functions.

“The new office in India is a testament to Magna Steyr’s commitment to India and its importance in our global strategy,” said Mr. Guenther Apfalter, president of Magna Steyr. “Additionally, it creates an important base for engineering and research for both our global and local activities.”

Magna Steyr has strategically chosen to locate the office in the Chakan/Pune region to target the fast-paced automotive growth in the western part of the country, where many local and foreign OEMs have established operations.

About Magna International

Magna is the most diversified automotive supplier in the world. Magna 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, Asia, South America and Africa. Magna’s capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; metal body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; as well as complete vehicle engineering and assembly.

Magna has approximately 83,000 employees in 240 manufacturing operations and 62 product development and engineering centers in 23 countries.

Source: Magna International Inc.

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