<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>jan24-2012_exhibit99.txt
<DESCRIPTION>PRESS RELEASE ANNOUNCING GOVERNANCE ENHANCEMENTS
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EXHIBIT 99

Magna International Inc.

337 Magna Drive
Aurora, Ontario
Canada L4G 7K1
Tel: 905-726-2462
Fax: 905-726-7164
www.magna.com

PRESS RELEASE

MAGNA ADOPTS FURTHER
CORPORATE GOVERNANCE ENHANCEMENTS

BUILDS UPON PRIOR INITIATIVES TO EVOLVE ITS CORPORATE GOVERNANCE PRACTICES


January 24, 2012, Aurora, Ontario, Canada. Magna International Inc.
(TSX: MG, NYSE: MGA) today announced that its Board has adopted a number
of further corporate governance enhancements as part of the evolution of
its corporate governance practices.

"The changes adopted today underscore that the Board continues to be
responsive to, and is fully aligned with, shareholder interests," said
Magna Chairman Michael Harris. "Since the completion of the plan of
arrangement in August 2010, the Board has implemented a number of
enhancements to its corporate governance practices while continuing to
emphasize the key operating principles and Corporate Constitution that
have been the cornerstone of Magna's historical success. During this same
time, the Board has also approved several increases to Magna's dividend,
bought back shares under a share buy-back program and overseen a number of
acquisitions, while continuing to emphasize the strong financial discipline
that has enabled Magna to have one of the strongest balance sheets in the
industry. We believe that the Board's record demonstrates its continued
commitment to building long-term shareholder value."

The shareholder-friendly enhancements adopted by the Board today include:

Say on Pay:

Commencing with Magna's 2012 annual meeting, shareholders will vote on an
advisory resolution relating to the company's approach to executive
compensation.

Full Majority Voting:

Magna's existing majority voting policy has been amended to clarify that
a resignation delivered by a director who receives more "Withhold" votes
than "For" votes, will be accepted unless there are extraordinary
circumstances that would justify rejecting the resignation. After
receiving the recommendation of the Nominating Committee, the independent
directors of the Board who secure a majority of "For" votes will accept
or reject a resignation no more than 90 days after the meeting at which
the director election occurred. The decision made by the independent
directors will be publicly disclosed by press release and reasons will be
provided if a resignation under the policy is rejected.

Director Stock Options Eliminated:

Compensation for Magna's independent directors will not include any new
grants of stock options. No stock options have been granted to
independent directors since May 2010.

Disclosure of Detailed Voting Results:

While Magna previously announced that disclosure will be made of
detailed voting results relating to each shareholder meeting beginning
with our 2012 annual meeting, the Board approved a formal policy
confirming that Magna will publicly disclose the number and percentage
of votes cast on every matter at each shareholders' meeting.

Board Renewal:

In connection with the ongoing process of Board renewal, Russell
Reynolds Associates has been engaged to assist in the search for
additional independent directors who will be nominated for election
at Magna's 2012 annual meeting. The current search prioritizes
candidates with strong financial, automotive, global business and/or
corporate governance expertise. Through the current search, the Board
seeks to build upon the process of orderly board renewal following the
retirement from the Board of three directors in 2010/2011 and the
election of two new independent directors in May 2011. Additionally,
for 2012, the independent directors (collectively) will oversee the
director search and nominating functions which the Nominating
Committee would ordinarily perform.

Director Education:

The Board adopted a formal director education policy to help ensure
that Magna's directors are provided with ongoing education relating
to the company's business and industry, as well as various other
topics such as corporate governance, risk management and executive
compensation.

Board Evaluation:

In order to enhance the effectiveness of the Board's self-evaluation,
recognized corporate governance expert Carol Hansell of Davies Ward
Phillips & Vineberg will facilitate the evaluation process of the
Board and directors in respect of 2011.

The enhancements described above are reflected in a revised Board
Charter, which can be found on Magna's website under "Corporate
Governance".

CONTACT

For further information, please contact Vince Galifi, Executive
Vice-President and Chief Financial Officer at 905-726-7100.

ABOUT MAGNA

We are 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. 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; hybrid and electric vehicles/systems; as well as complete
vehicle engineering and assembly.

Magna has over 107,000 employees in 286 manufacturing operations
and 88 product development, engineering and sales centres in 25
countries.

FORWARD LOOKING STATEMENTS

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE "FORWARD-
LOOKING STATEMENTS" UNDER APPLICABLE SECURITIES LEGISLATION AND
ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY
DISCLAIMERS THAT ARE SET OUT IN MAGNA'S REGULATORY FILINGS.
PLEASE REFER TO MAGNA'S MOST CURRENT MANAGEMENT'S DISCUSSION AND
ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL
INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR
UPDATED BY ANY OF MAGNA'S SUBSEQUENT REGULATORY FILINGS, WHICH
SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS
THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE
INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS
ARE AVAILABLE FOR REVIEW ON MAGNA'S WEBSITE AT WWW.MAGNA.COM.
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