AURORA - Magna International Inc. late yesterday announced that it has been advised by General Motors ("GM") that
the GM Board of Directors has decided to terminate the sale process for Opel.
Siegfried Wolf, Magna's Co-Chief Executive Officer stated: "We understand
that the Board concluded that it was in GM's best interests to retain Opel,
which plays an important role within GM's global organization. We will
continue to support Opel and GM in the challenges ahead and wish to thank
everyone who supported the Opel restructuring process for their tireless
efforts and dedication over the past several months. In particular, we wish
to thank our partner, Sberbank, for its significant contribution and support
throughout this process."