Magna International Inc.
337 Magna Drive
Aurora, ON, Canada  L4G 7K1

Magna announces a clarification of its Dividend Policy

April 2, 2007 - Magna International Inc. (TSX: MG.A, MG.B; NYSE:
MGA) today announced a clarification of its approach to the payment of
dividends under the Dividend Policy contained in its Corporate Constitution.

This Dividend Policy entitles Magna Class A Subordinate Voting and Class
B shareholders to dividends which, in aggregate in respect of a financial
year, shall be: (a) equal to at least 10% of Magna's After Tax Profits (as
defined in the Corporate Constitution) for that financial year; and (b) on
average, equal to at least 20% of Magna's After Tax Profits for that year and
the two immediately preceding financial years. Magna has complied with this
requirement since 1992 and intends to continue to fully comply in the
following manner:
    (1) the dividend per share to be paid in respect of each of the first
        three quarters of a financial year will be approximately 5% of
        Magna's After Tax Profits for the prior financial year, divided by
        the number of shares outstanding at the end of the prior financial
        year; and
    (2) the dividend per share to be paid in respect of the fourth quarter of
        a financial year will be calculated based on the amount, if any, by
        which 20% of Magna's actual After Tax Profits for the current
        financial year exceeds the aggregate amount distributed as dividends
        in respect of the prior three quarters, divided by the number of
        shares outstanding at the end of the current financial year.

Under the Corporate Constitution, if Magna fails to comply with the
Dividend Policy for a period of two consecutive financial years, the holders
of Magna Class A Subordinate Voting Shares will have the exclusive right,
voting separately as a class, to nominate and elect additional directors, as
set forth in the Corporate Constitution.

Under both the Dividend Policy in the Corporate Constitution and the
foregoing dividend formula, Magna's After Tax Profits available for
distribution to holders of Class A Subordinate Voting Shares and Class B
Shares will be calculated after payment of dividends on preference shares.
There are currently no preference shares outstanding.

Magna's Board of Directors reserves the right to modify the foregoing
dividend formula at any time and for any reason, subject to the requirements
of the Corporate Constitution, particularly where financial, economic or other
business circumstances require a modification to the quarterly or annual
dividend amounts.

As a result of the foregoing dividend formula, Magna's quarterly dividend
in respect of its first quarter ending March 31, 2007, is expected to be
U.S.$0.24 per Class A Subordinate Voting or Class B share.

Magna is the most diversified automotive supplier in the world. We
design, develop and manufacture automotive systems, assemblies, modules and
components, and engineer and assemble complete vehicles, primarily for sale to
original equipment manufacturers of cars and light trucks in North America,
Europe, Asia, South America and Africa. Our capabilities include the design,
engineering, testing and manufacture of automotive interior systems; seating
systems; closure systems; metal body and structural systems; vision systems;
electronic systems; exterior systems; powertrain systems; roof systems; as
well as complete vehicle engineering and assembly.

We have approximately 83,000 employees in 229 manufacturing operations
and 62 product development and engineering centres in 23 countries.

Forward Looking Statements
The previous discussion may contain statements that, to the extent that
they are not recitations of historical fact, constitute "forward-looking
statements" within the meaning of applicable securities legislation.
Forward-looking statements may include financial and other projections, as
well as statements regarding our future plans, objectives or economic
performance, or the assumptions underlying any of the foregoing. We use words
such as "may", "would", "could", "will", "likely", "expect", "anticipate",
"believe", "intend", "plan", "forecast", "project", "estimate" and similar
expressions to identify forward-looking statements. Any such forward-looking
statements are based on assumptions and analyses made by us in light of our
experience and our perception of historical trends, current conditions and
expected future developments, as well as other factors we believe are
appropriate in the circumstances. However, whether actual results and
developments will conform with our expectations and predictions is subject to
a number of risks, assumptions and uncertainties. These risks, assumptions and
uncertainties include, but are not limited to, the impact of: declining
production volumes and changes in consumer demand for vehicles; a reduction in
the production volumes of certain vehicles, such as certain light trucks; our
ability to offset increases in the cost of commodities, such as steel and
resins, as well as energy prices; fluctuations in relative currency values;
our ability to offset price concessions demanded by our customers; our
dependence on outsourcing by our customers; our ability to compete with
suppliers with operations in low cost countries; changes in our mix of
earnings between jurisdictions with lower tax rates and those with higher tax
rates, as well as our ability to fully benefit tax losses; other potential tax
exposures; the financial distress of some of our suppliers and customers; the
inability of our customers to meet their financial obligations to us; our
ability to fully recover pre-production expenses; warranty and recall costs;
the termination by our customers of any material contracts; product liability
claims in excess of our insurance coverage; expenses related to the
restructuring and rationalization of some of our operations; impairment
charges; our ability to successfully identify, complete and integrate
acquisitions; risks associated with new program launches; legal claims against
us; risks of conducting business in foreign countries; unionization activities
at our facilities; work stoppages and labour relations disputes; changes in
laws and governmental regulations; costs associated with compliance with
environmental laws and regulations; potential conflicts of interest involving
our controlling shareholder, the Stronach Trust; and other factors set out in
our Annual Information Form filed with securities commissions in Canada and
our annual report on Form 40-F filed with the United States Securities and
Exchange Commission, and subsequent filings. In evaluating forward-looking
statements, readers should specifically consider the various factors which
could cause actual events or results to differ materially from those indicated
by such forward-looking statements. Unless otherwise required by applicable
securities laws, we do not intend, nor do we undertake any obligation, to
update or revise any forward-looking statements to reflect subsequent
information, events, results or circumstances or otherwise.

For further information: about this press release, please contact
Vincent J. Galifi, Executive Vice-President and Chief Financial Officer at
(905) 726-7100