Magna is a leading global supplier of technologically advanced automotive components, systems and complete modules. As of June 2003 the Company employed approximately 71,000 people in 206 manufacturing divisions and 47 product development and engineering centers in 22 countries
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Magna International Inc. (TSX: MG.A, MG.B; NYSE: MGA) today reported financial results for the third quarter and nine months ended September 30, 2006.

AURORA, Canada, November 10 /PRNewswire/ -- Magna International Inc. (TSX: MG.A, MG.B; NYSE: MGA) today reported financial results for the third quarter and nine
months ended September 30, 2006. 

THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2006 2005 2006 2005 Sales US$5,424 US$5,381 US$17,812 US$16,957
Operating income US$155 US$240 US$ 750 US$ 817 Net income US$94 US$159 US$499 US$ 556 Diluted earnings per share US$0.86 US$1.44 US$4.52 US$5.16 All
results are reported in millions of U.S. dollars, except per share figures. 

THREE MONTHS ENDED SEPTEMBER 30, 2006 

We posted sales of US$5.4 billion for the third quarter ended September 30, 2006, an increase of 1% over the third quarter of 2005. This higher sales level was achieved as a
result of increases in our European production and complete vehicle assembly sales offset in part by reductions in North American production sales and tooling, engineering and
other sales. 

During the third quarter of 2006, North American and European average dollar content per vehicle increased 1% and 18% respectively, each over the comparable quarter in
2005. During the third quarter of 2006, North American and European vehicle production declined 7% and 5% respectively, each in comparison to the third quarter of 2005. 

Complete vehicle assembly sales increased 16% to US$1.017 billion for the third quarter of 2006 compared to US$879 million for the third quarter of 2005 and complete
vehicle assembly volumes were unchanged from the third quarter of 2006 compared to the third quarter of 2005. 

Our operating income was US$155 million for the third quarter ended September 30, 2006 compared to US$240 million for the third quarter ended September 30, 2005, and
we earned net income for the third quarter of 2006 of US$94 million compared to US$159 million for the third quarter of 2005. 

Diluted earnings per share were US$0.86 for the third quarter ended September 30, 2006 compared to US$1.44 for the third quarter ended September 30, 2005. 

During the third quarter ended September 30, 2006, we generated cash from operations before changes in non-cash operating assets and liabilities of US$273 million, and
generated US$49 million from non-cash operating assets and liabilities. Total investment activities for the third quarter of 2006 were US$255 million, including US$198 million in
fixed asset additions, US$51 million to purchase subsidiaries, and a US$6 million increase in investments and other assets. 

NINE MONTHS ENDED SEPTEMBER 30, 2006 

We posted sales of US$17.8 billion for the nine months ended September 30, 2006, an increase of 5% over the nine months ended September 30, 2005. This higher sales level
was achieved as a result of increases in our North American and European production sales and complete vehicle assembly sales offset in part by reductions in tooling,
engineering and other sales.