August 23, 2004

Magna International appoints new president

Aurora, ON – On Friday, Magna International Inc. announced that former General Motors executive Mark Hogan had joined Magna as President. The position of President had most recently been filled by Magna President Frank Stronach on an interim basis after Belinda Stronach resigned to run for the leadership of the Conservative Party of Canada. Although unsuccessful in that race, Ms. Stronach ran successfully in the recent federal election, becoming the MP for Newmarket-Aurora.

Mr. Hogan spent over 30 years with General Motors, most recently as General Motors’ Group Vice-President for Advanced Vehicle Development. His career included assignments as President, GM do Brazil, President of e-GM and as general manager for the GM North American Car Group, Small Car Operations. At Magna, Mr. Hogan will draw on his extensive global experience with General
Motors’ operations and his advanced vehicle development expertise.

Mr. Stronach said, “Mark will be an extremely valuable addition to our senior management team where his broad experience in various areas at General Motors, the world’s largest OEM, will assist us in our efforts to explore new markets and opportunities.”

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