Bangkok--13 Aug--Jigsaw Communications Aurora, Ontario, Canada...Magna International Inc. (TSX: MG.A; NYSE: MGA) today reported financial results for the second quarter and six months ended June 30, 2008. Three months ended June 30, Six months ended June 30, 2008 2007 2008 2007 Sales $ 6,713 $ 6,731 $ 13,335 $ 13,154 Operating income $ 319 $ 377 $ 605 $ 682 Net Income $ 227 $ 262 $ 434 $ 480 Diluted earnings per share $ 1.98 $ 2.35 $ 3.75 $ 4.32 All results are reported in millions of US dollars, except per share figures which are in US dollars THREE MONTHS ENDED JUNE 30, 2008 We posted sales of $6.7 billion for the second quarter ended June 30, 2008, substantially unchanged over the second quarter of 2007. Increases in our European and Rest of World production sales were offset by reductions in North American production sales, complete vehicle assembly sales and tooling, engineering and other sales. During the second quarter of 2008, our North American and European average dollar content per vehicle increased 2% and 23% respectively, over the second quarter of 2007. Also, during the second quarter of 2008, North American vehicle production declined 14% while European vehicle production was essentially unchanged, each compared to the second quarter of 2007. Complete vehicle assembly sales decreased 1% to $1.054 billion for the second quarter of 2008 compared to $1.064 billion for the second quarter of 2007, while complete vehicle assembly volumes declined 28% to 39,726 units compared to the second quarter of 2007. During the second quarter of 2008, operating income was $319 million, net income was $227 million. Operating income decreased $58 million, net income decreased $35 million compared to the second quarter of 2007. 2008 OUTLOOK We have significantly reduced our expectations for 2008 light vehicle production volumes in North America. For the full year 2008, we now expect light vehicle production volumes of approximately 13.2 million units in North America and approximately 15.6 million units in Europe. Consequently, we expect consolidated sales to be between $24.3 billion and $25.6 billion for full year 2008. Full year 2008 average dollar content per vehicle is expected to be between $850 and $880 in North America and between $485 and $510 in Europe. We expect full year 2008 complete vehicle assembly sales to be between $3.5 billion and $3.8 billion. In addition, we expect that full year 2008 spending for fixed assets will be in the range of $850 million to $900 million. We are the most diversified global automotive supplier. We design, develop and manufacture technologically advanced automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (“OEMs”) of cars and light trucks. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; as well as complete vehicle engineering and assembly.We have approximately 82,000 employees in 241 manufacturing operations and 62 product development and engineering centres in 23 countries. For more information please contact Mr.David Toogood Jigsaw Communications 02-253-2793 Magna International Inc. 337 Magna Drive Aurora, Ontario L4G 7K1 Tel (905) 726-2462 Fax (905) 726-7164