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<SEC-DOCUMENT>0000905148-04-004641.txt : 20041027
<SEC-HEADER>0000905148-04-004641.hdr.sgml : 20041027
<ACCEPTANCE-DATETIME>20041027170825
ACCESSION NUMBER:		0000905148-04-004641
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20041027
DATE AS OF CHANGE:		20041027
GROUP MEMBERS:		1128969 ONTARIO INC.
GROUP MEMBERS:		445327 ONTRIO LIMITED
GROUP MEMBERS:		FRANK STRONACH
GROUP MEMBERS:		STRONACH TRUST

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TESMA INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000944802
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				980128591
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-49799
		FILM NUMBER:		041100163

	BUSINESS ADDRESS:	
		STREET 1:		1000 TESMA WAY
		CITY:			CONCORD
		STATE:			A6
		ZIP:			L4K 5R8
		BUSINESS PHONE:		9054172100

	MAIL ADDRESS:	
		STREET 1:		1000 TESMA WAY
		CITY:			CONCORD
		STATE:			A6
		ZIP:			L4K 5R8

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAGNA INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000749098
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		337 MAGNA DRIVE
		STREET 2:		N/A
		CITY:			AURORA, ONTARIO, CAN
		STATE:			A6
		ZIP:			L4G 7K1
		BUSINESS PHONE:		9057262462

	MAIL ADDRESS:	
		STREET 1:		337 MAGNA DRIVE
		STREET 2:		N/A
		CITY:			AURORA, ONTARIO, CAN
		STATE:			A6
		ZIP:			L4G 7K1
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>efc4-1919_5614588sch13da.txt
<TEXT>

                      SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC 20549

                         ----------------------------

                                 SCHEDULE 13D
                  Under the Securities Exchange Act of 1934*
                               (Amendment No. 1)

                           Tesma International Inc.
                               (Name of Issuer)

                       Class A Subordinate Voting Shares
                        (Title of Class of Securities)

                                  881908107
                                (CUSIP Number)

                               J. Brian Colburn
           Executive Vice President, Special Projects and Secretary
                           Magna International Inc.
                                337 Magna Drive
                            Aurora, Ontario L4G 7K1
                                (905) 726-2462
                 (Name, Address and Telephone Number of Person
               Authorized to Receive Notices and Communications)

                                with a copy to:
     Scott M. Freeman                              Kenneth G. Alberstadt
Sidley Austin Brown & Wood LLP              Law Office of Kenneth G. Alberstadt
     787 Seventh Avenue                           111 Broadway, 18th Floor
  New York, New York 10019                           New York, NY 10006
     (212) 839-5300                                    (212) 404-7556

                               October 22, 2004
            (Date of Event Which Requires Filing of This Statement)

     If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [_].

     Note. Schedules filed in paper format shall include a signed original and
     five copies of the schedule, including all exhibits. See Rule 13d-7 for
     other parties to whom copies are to be sent.

                        (Continued on following pages)

                              (Page 1 of 9 Pages)


- --------
* The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


<PAGE>


- ------------------------------------------------------------------------------
CUSIP No. 881908107              SCHEDULE 13D               Page 2 of 9 Pages
- ------------------------------------------------------------------------------

- ------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      STRONACH TRUST
- ------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                (a) [_]
                                                                       (b) [_]
- ------------------------------------------------------------------------------
3     SEC USE ONLY
- ------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      OO
- ------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                 [_]
- ------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      ONTARIO, CANADA
- ------------------------------------------------------------------------------
NUMBER OF         7     SOLE VOTING POWER                   14,253,448
SHARES            ------------------------------------------------------------
BENEFICIALLY      8     SHARED VOTING POWER             NOT APPLICABLE
OWNED BY          ------------------------------------------------------------
EACH              9     SOLE DISPOSITIVE POWER              14,253,448
REPORTING         ------------------------------------------------------------
PERSON WITH       10    SHARED DISPOSITIVE POWER        NOT APPLICABLE
- ------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      14,253,448
- ------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*                                                              [_]
- ------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      44.0%
- ------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      OO
- ------------------------------------------------------------------------------


<PAGE>


- ------------------------------------------------------------------------------
CUSIP No. 881908107              SCHEDULE 13D               Page 3 of 9 Pages
- ------------------------------------------------------------------------------

- ------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      445327 ONTARIO LIMITED
- ------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                (a) [_]
                                                                       (b) [_]
- ------------------------------------------------------------------------------
3     SEC USE ONLY
- ------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      OO
- ------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                 [_]
- ------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      ONTARIO, CANADA
- ------------------------------------------------------------------------------
NUMBER OF         7     SOLE VOTING POWER                   14,253,448
SHARES            ------------------------------------------------------------
BENEFICIALLY      8     SHARED VOTING POWER             NOT APPLICABLE
OWNED BY          ------------------------------------------------------------
EACH              9     SOLE DISPOSITIVE POWER              14,253,448
REPORTING         ------------------------------------------------------------
PERSON WITH       10    SHARED DISPOSITIVE POWER        NOT APPLICABLE
- ------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      14,253,448
- ------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
      CERTAIN SHARES*
- ------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      44.0%
- ------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      CO
- ------------------------------------------------------------------------------


<PAGE>



- ------------------------------------------------------------------------------
CUSIP No. 881908107              SCHEDULE 13D               Page 4 of 9 Pages
- ------------------------------------------------------------------------------

- ------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      MAGNA INTERNATIONAL INC
- ------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                (a) [_]
                                                                       (b) [_]
- ------------------------------------------------------------------------------
3     SEC USE ONLY
- ------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      OO
- ------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                 [_]
- ------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      ONTARIO, CANADA
- ------------------------------------------------------------------------------
NUMBER OF         7     SOLE VOTING POWER                   14,253,448
SHARES            ------------------------------------------------------------
BENEFICIALLY      8     SHARED VOTING POWER             NOT APPLICABLE
OWNED BY          ------------------------------------------------------------
EACH              9     SOLE DISPOSITIVE POWER              14,253,448
REPORTING         ------------------------------------------------------------
PERSON WITH       10    SHARED DISPOSITIVE POWER        NOT APPLICABLE
- ------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      14,253,448
- ------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*                                                              [_]
- ------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      44.0%
- ------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      CO
- ------------------------------------------------------------------------------


<PAGE>


- ------------------------------------------------------------------------------
CUSIP No. 881908107              SCHEDULE 13D               Page 5 of 9 Pages
- ------------------------------------------------------------------------------

- ------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      1128969 ONTARIO INC
- ------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                (a) [_]
                                                                       (b) [_]
- ------------------------------------------------------------------------------
3     SEC USE ONLY
- ------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      OO
- ------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                 [_]
- ------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      ONTARIO, CANADA
- ------------------------------------------------------------------------------
NUMBER OF         7     SOLE VOTING POWER                    4,484,447
SHARES            ------------------------------------------------------------
BENEFICIALLY      8     SHARED VOTING POWER             NOT APPLICABLE
OWNED BY          ------------------------------------------------------------
EACH              9     SOLE DISPOSITIVE POWER               4,484,447
REPORTING         ------------------------------------------------------------
PERSON WITH       10    SHARED DISPOSITIVE POWER        NOT APPLICABLE
- ------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      4,484,447
- ------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*                                                              [_]
- ------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      19.8%
- ------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      CO
- ------------------------------------------------------------------------------


<PAGE>


- ------------------------------------------------------------------------------
CUSIP No. 881908107              SCHEDULE 13D               Page 6 of 9 Pages
- ------------------------------------------------------------------------------

- ------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      FRANK STRONACH
- ------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                (a) [_]
                                                                       (b) [_]
- ------------------------------------------------------------------------------
3     SEC USE ONLY
- ------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      OO
- ------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                 [_]
- ------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      AUSTRIA
- ------------------------------------------------------------------------------
NUMBER OF         7     SOLE VOTING POWER                   14,503,448
SHARES            ------------------------------------------------------------
BENEFICIALLY      8     SHARED VOTING POWER             NOT APPLICABLE
OWNED BY          ------------------------------------------------------------
EACH              9     SOLE DISPOSITIVE POWER              14,503,448
REPORTING         ------------------------------------------------------------
PERSON WITH       10    SHARED DISPOSITIVE POWER        NOT APPLICABLE
- ------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      14,503,448
- ------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*                                                              [_]
- ------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      44.5%
- ------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      IN
- ------------------------------------------------------------------------------


<PAGE>


- ------------------------------------------------------------------------------
CUSIP No. 881908107              SCHEDULE 13D               Page 7 of 9 Pages
- ------------------------------------------------------------------------------




Item 1.     Security and Issuer.

            This Amendment No. 1 to Schedule 13D amends (i) the Statement on
Schedule 13D relating to the Class A Subordinate Voting Shares (the "Class A
Shares") of Tesma International Inc. (the "Issuer") originally filed on
February 14, 2002, by the Stronach Trust ("Stronach Trust"), a trust formed
under the laws of Ontario, Canada, 445327 Ontario Limited ("445327"), an
Ontario, Canada corporation, Magna International Inc. ("Magna"), an Ontario,
Canada corporation, and 1265058 Ontario Inc. ("1265058"), an Ontario, Canada
corporation, and (ii) the Statement on Schedule 13D relating to the Class A
Shares originally filed on September 9, 2003 by Frank Stronach. This Amendment
No. 1 is filed by Stronach Trust, 445327, Magna, 1265058 and Frank Stronach.

Item 2.     Identity and Background

            Mr. Stronach's principal business address is Badener Strasse 12,
Oberwaltersdorf, Austria 2522. Mr. Stronach is a partner of Stronach & Co
("S&Co"), an entity that provides consulting services to certain subsidiaries
of Magna. In addition, Mr. Stronach is the Chairman of the Board of Magna, the
Chairman of the Board of MI Developments Inc. ("MID") and the Chairman of the
Board of Magna Entertainment Corp. ("MEC").

            During the last five years, Mr. Stronach has not been: (i)
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors); or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which he was or
is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, Federal or State
securities laws or finding any violation with respect to such laws. Mr.
Stronach is a citizen of Austria.

Item 3.     Source and Amount of Funds or Other Consideration.

            Item 3 of the Original 13D is amended to disclose that the Class A
Subordinate Voting Shares of Magna ("Magna Class A Shares") and cash to be
paid as purchase consideration for the Class A Shares acquired by Magna in the
proposed transaction will be provided by Magna (with respect to such cash,
from internal funds).

Item 4.     Purpose of Transaction.

            On October 25, 2004, Magna issued a press release (the "Press
Release") disclosing that it intends to acquire all the outstanding Class A
Subordinate Voting Shares of the Issuer that it does not already own. The
foregoing description is qualified in its entirety by reference to the Press
Release, which is attached hereto as Exhibit 99.1, and which is incorporated
herein by reference.

Item 5.     Interest in Securities of the Issuer.



                                    Page 8
<PAGE>


- ------------------------------------------------------------------------------
CUSIP No. 881908107              SCHEDULE 13D               Page 8 of 9 Pages
- ------------------------------------------------------------------------------

                  Mr. Stronach is a principal in Stronach & Co. ("S&Co."), a
                  consulting firm providing services to certain subsidiaries
                  of Magna, and may be deemed to be the beneficial owner of
                  250,000 Class A Shares issuable upon exercise of a currently
                  outstanding option (the "S&Co Option") held by S&Co. that
                  was issued to S&Co. on October 25, 1999 in consideration for
                  consulting services to be rendered to the Issuer pursuant to
                  a consulting agreement with S&Co. The S&Co Option will vest
                  and become exercisable with respect to an additional 50,000
                  Class A Shares on October 25, 2005 provided that the
                  consulting agreement currently in effect between S&Co. and
                  the Issuer is not terminated prior to such date. If the
                  proposed acquisition by Magna is consummated as planned, the
                  S & Co Option will cease to be exercisable for Class A
                  Shares. The filing of this statement shall not be construed
                  as an admission that Mr. Stronach beneficially owns any
                  Class A Shares that are or may be deemed to be beneficially
                  owned by S&Co. Without limitation of the foregoing, Mr.
                  Stronach disclaims beneficial ownership of such Class A
                  Shares for purposes other than U.S. securities law purposes.

                  Mr. Stronach acts as one of four trustees of the Stronach
                  Trust. The remaining trustees of the Stronach Trust are
                  members of the reporting person's family. Mr. Stronach is
                  entitled to appoint additional trustees and to remove
                  trustees. Determinations by the Stronach Trust are made by a
                  majority of the trustees, which majority must include the
                  reporting person.

                  The Stronach Trust owns all the outstanding shares of 445327
                  Ontario Limited ("445327"), of which the reporting person is
                  the sole director. 445327 holds 726,829 Class B Shares of
                  Magna, such shares representing approximately 56.4% of the
                  total votes carried by the outstanding voting stock of
                  Magna. The reporting person may be deemed to be the
                  beneficial owner of 14,253,448 Class A Shares beneficially
                  owned by Magna, 1128969 and 1620364 Ontario Inc., a wholly
                  owned subsidiary of Magna ("1620364") (including 14,233,900
                  Class A Shares issuable upon conversion of an equivalent
                  number of Class B Shares held in the aggregate by Magna and
                  1128969). The filing of this statement shall not be
                  construed as an admission that Mr. Stronach beneficially
                  owns any Class A Shares that are or may be deemed to be
                  beneficially owned by the Stronach Trust, 445327, Magna,
                  1128969 or 1620364. Without limitation of the foregoing, Mr.
                  Stronach disclaims beneficial ownership of such Class A
                  Shares for purposes other than U.S. securities law purposes.

                  Assuming the beneficial ownership of all Class A Shares as
                  to which beneficial ownership is disclaimed herein, Mr.
                  Stronach is the beneficial owner of 14,503,448 Class A
                  Shares, representing 44.5% of the Class A Shares (determined
                  in accordance with Rule 13d-3).

            (b)   The reporting person may be deemed to have sole voting and
                  dispositive power with respect to the 14,503,448 Class A
                  Shares that are the subject of this Amendment.

            (c)   During the sixty days preceding the filing of this
                  Amendment, the reporting person did not acquire any
                  securities of the Company.

            (d)-(e) Not applicable.


Item 7.     Material to be Filed as Exhibits.

            Exhibit 99.1 Press Release dated October 25, 2004, issued by Magna



                                    Page 9
<PAGE>


- ------------------------------------------------------------------------------
CUSIP No. 881908107              SCHEDULE 13D               Page 9 of 9 Pages
- ------------------------------------------------------------------------------

                                   SIGNATURE

            After reasonable inquiry and to the best of the undersigned's
knowledge and belief, each of the undersigned certifies as to itself that the
information set forth in this statement is true, complete and correct.

Dated:  October 27, 2004


                                     THE STRONACH TRUST


                                     By:  /s/ Frank Stronach
                                        ---------------------------------
                                        Name:   Frank Stronach
                                        Title:  Trustee

                                     445327 ONTARIO LIMITED


                                     By:  /s/ Frank Stronach
                                        ---------------------------------
                                        Name:   Frank Stronach
                                        Title:  President

                                     MAGNA INTERNATIONAL INC.


                                     By:  /s/ Frank Stronach
                                        ---------------------------------
                                        Name:   Frank Stronach
                                        Title:  Chairman

                                     1128969 ONTARIO INC.


                                     By:  /s/ J. Brian Colburn
                                        ---------------------------------
                                        Name:  J. Brian Colburn
                                        Title:  Executive Vice-President
                                                and Secretary


                                     /s/ Frank Stronach
                                     ---------------------------
                                         Frank Stronach


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>efc4-1919_exh.txt
<TEXT>

                                                                    Exhibit 99.1

[LOGO OMITTED]                                        Magna International Inc.
                                                      337 Magna Drive
                                                      Aurora, Ontario L4G 7K1
                                                      Tel (905) 726-2462
                                                      Fax (905) 726-7164

                                 PRESS RELEASE

                   MAGNA ANNOUNCES PROPOSALS TO TAKE PRIVATE
                   -----------------------------------------
                           ITS PUBLIC SUBSIDIARIES
                           -----------------------


October 25, 2004, Aurora, Ontario, Canada - Magna International Inc. (TSX:
MG.A, MG.B; NYSE: MGA) announced today that it has made separate proposals to
the respective boards of directors of its three public subsidiaries, Intier
Automotive Inc. (TSX: IAI.A; NASDAQ: IAIA), Decoma International Inc. (TSX:
DEC.A; NASDAQ: DECA) and Tesma International Inc. (TSX: TSM.A; NASDAQ: TSMA),
in each case, to acquire all the outstanding Class A Subordinate Voting Shares
of each subsidiary not owned by Magna. Each proposal, which would be
implemented by way of a court-approved plan of arrangement under Ontario law,
is independent and not conditional on completion of the other transactions.

Under the Intier proposal, shareholders of Intier would receive 0.3847 of a
Class A Subordinate Voting Share of Magna for each Class A Subordinate Voting
Share of Intier or, at the election of any shareholder, cash based on the
volume-weighted average trading price ("VWAP") of Magna's Class A Subordinate
Voting Shares over the five trading days ending on the last trading day
immediately preceding the effective date of the plan of arrangement. The
aggregate cash payable to all electing Intier shareholders in the proposed
transaction would be capped at Cdn. $125 million, representing approximately
half of the total consideration contemplated by the proposal based on the VWAP
of Magna's Class A Subordinate Voting Shares over the 20 trading days ended
October 22, 2004, being the last trading day prior to the making of the
proposals. If shareholders elect to receive cash in excess of Cdn. $125
million in the aggregate, the total cash available will be prorated among
those shareholders electing to receive cash and the balance of their
consideration will be satisfied in Magna Class A Subordinate Voting Shares.
Based on the VWAP of Magna's Class A Subordinate Voting Shares over the past
20 trading days, the consideration offered represents a premium of
approximately 36.5% over the VWAP of Intier's Class A Subordinate Voting
Shares over the same period.

Under the Decoma proposal, shareholders of Decoma would receive 0.1453 of a
Class A Subordinate Voting Share of Magna for each Class A Subordinate Voting
Share of Decoma or, at the election of any shareholder, cash based on the
volume-weighted average trading price ("VWAP") of Magna's Class A Subordinate
Voting Shares over the five trading days ending on the last trading day
immediately preceding the effective date of the plan of arrangement. The
aggregate cash payable to all electing Decoma shareholders in the proposed
transaction would be capped at Cdn. $150 million, representing approximately
half of the total consideration contemplated by the proposal based on the VWAP
of Magna's Class A Subordinate Voting Shares over the 20 trading days ended
October 22, 2004, being the last trading day prior to the making of the
proposals. If shareholders elect to receive cash in excess of Cdn. $150
million in the aggregate, the total cash available will be prorated among
those shareholders electing to receive cash and the balance of their
consideration will be satisfied in Magna Class A Subordinate Voting Shares.
Based on the VWAP of Magna's Class A Subordinate Voting Shares over the past
20 trading days, the consideration offered represents a premium of
approximately 26.3% over the VWAP of Decoma's Class A Subordinate Voting
Shares over the same period.

Under the Tesma proposal, shareholders of Tesma would receive 0.4388 of a
Class A Subordinate Voting Share of Magna for each Class A Subordinate Voting
Share of Tesma or, at the election of any shareholder, cash based on the
volume-weighted average trading price ("VWAP") of Magna's Class A Subordinate
Voting Shares over the five trading days ending on the last trading day
immediately preceding the effective date of the plan of arrangement. The
aggregate cash payable to all electing Tesma shareholders in the proposed
transaction would be capped at Cdn. $350 million, representing approximately
half of the total consideration contemplated by the proposal based on the VWAP
of Magna's Class A Subordinate Voting Shares over the 20 trading days ended
October 22, 2004, being the last trading day prior to the making of the
proposals. If shareholders elect to receive cash in excess of Cdn. $350
million in the aggregate, the total cash available will be prorated among
those shareholders electing to receive cash and the balance of their
consideration will be satisfied in Magna Class A Subordinate Voting Shares.
Based on the VWAP of Magna's Class A Subordinate Voting Shares over the past
20 trading days, the consideration offered represents a premium of
approximately 33.3% over the VWAP of Tesma's Class A Subordinate Voting Shares
over the same period.


<PAGE>


                                     -2-


Based on the VWAP of Magna's Class A Subordinate Voting Shares over the 20
trading days ended October 22, 2004, the total purchase price for the
outstanding Class A Subordinate Voting Shares of each subsidiary not owned by
Magna is approximately Cdn. $1.3 billion. The total purchase price would be
satisfied by the issuance of approximately 13.9 million Magna Class A
Subordinate Voting Shares, in the event shareholders of the subsidiaries
receive all stock, or approximately 7.1 million Magna Class A Subordinate
Voting Shares and Cdn. $625 million in cash, in the event shareholders of the
subsidiaries elect to receive the maximum amount of cash.

Each of the proposed transactions is proposed to be carried out by way of a
court-approved plan of arrangement under Ontario law and is subject to
applicable securities laws, including the Ontario rules that specifically
govern going-private transactions of this nature. In addition to court
approval, each transaction would require the approval of the shareholders of
each subsidiary, including by way of a majority of the votes cast by holders
other than Magna and its affiliates and other insiders.

Under the terms of the proposals and as required by Ontario law, the
respective boards of directors of Intier, Decoma and Tesma would each
establish an independent committee to consider the proposal from Magna. Each
independent committee would retain legal and financial advisors to assist it
and in particular would engage and supervise a financial advisor to prepare a
formal valuation of its Class A Subordinate Voting Shares. Proxy solicitation
materials would be prepared by each of Intier, Decoma and Tesma in connection
with the respective special meetings of shareholders to be called to consider
the plan of arrangement. The proxy materials for each meeting would disclose
the relevant formal valuation and would also contain whatever recommendation
the independent members of its board of directors deem appropriate following
the conclusion of their deliberations and taking into account the advice
received from their legal and financial advisors.

Magna currently owns an approximate (i) 86% equity interest in Intier as well
as approximately U.S. $218 million in convertible preferred shares and has the
right to cast approximately 99% of the votes attached to Intier's outstanding
shares, (ii) 74% equity interest in Decoma as well as approximately Cdn. $200
million in convertible preferred shares and has the right to cast
approximately 97% of the votes attached to Decoma's outstanding shares and
(iii) 44% equity interest in Tesma and has the right to cast approximately 89%
of the votes attached to Tesma's outstanding shares.

For further information, please contact Vincent J. Galifi, Magna's Executive
Vice-President and Chief Financial Officer, at 905-726-7100.

- ------------------------------------------------------------------------------
Magna will hold a conference call for interested analysts and shareholders to
discuss the proposals this morning at 8:00 a.m. EDT. The conference call will
be co-chaired by Mark T. Hogan, Magna's President and Vincent J. Galifi,
Magna's Executive Vice-President and Chief Financial Officer.

The number to use for this call is 1-888-706-4263. The number for overseas
callers is 1-416-641-6702. Please call in 10 minutes prior to the call. Magna
will also webcast the conference call at www.magna.com. A slide presentation
accompanying the conference call will be on Magna's website prior to the call.
Both the webcast and the slide presentation can be found in the Investor
Relations section of Magna's website. For teleconferencing questions, please
call 905-726-7103.
- ------------------------------------------------------------------------------

Magna, the most diversified automotive supplier in the world, 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, Mexico, South America and Asia. Our products include: automotive
interior and closure components, systems and modules through Intier Automotive
Inc.; metal body systems, components, assemblies and modules through Cosma
International; exterior and interior mirror and engineered glass systems
through Magna Donnelly; fascias, front and rear end modules, plastic body
panels, exterior trim components and systems, greenhouse and sealing systems,
roof modules and lighting components through Decoma International Inc.;
various engine, transmission and fueling systems and components through Tesma
International Inc.; a variety of drivetrain components through Magna
Drivetrain; and complete vehicle engineering and assembly through Magna Steyr.

Magna has approximately 81,000 employees in 219 manufacturing operations and
49 product development and engineering centres in 22 countries. For further
information on Magna, please visit www.magna.com.


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This press release 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. 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 principally relate to the risks associated with the automotive
industry. In addition, for a more detailed discussion, reference is made to
the risks, assumptions, uncertainties and other factors set out in our Annual
Information Form filed with the Canadian Securities Commissions 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.

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