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MAGNA CALLS FOR REDEMPTION OF 7 PERCENT CONVERTIBLE BONDS

 MARKHAM, Ontario, April 26 /PRNewswire/ -- Magna International Inc. (Toronto: MG.A, MG.B; ME; MG.A; NYSE: MGA) gave notice today that on May 26, 1993 it will redeem all of its 7 percent Convertible Subordinated Bonds Due 1993 at a price of U.S. $1,045.19 per U.S. $1,000.00 principal amount, including accrued interest and premium.
 Bondholders have the option up to the close of business (London, England time) on May 19, 1993 of converting each U.S. $1,000.00 principal amount of Bonds into approximately 48.1928 Class A Subordinate Voting Shares of the Company. On Friday, April 23, 1993, the reported last sale price of the Class A Subordinate Voting Shares on the New York Stock Exchange was U.S. $33.00 per share.
 The company originally issued Bonds having an aggregate principal amount of U.S. $75 million. Bonds having an aggregate principal amount in excess of U.S. $64 million have been converted previously into Class A Subordinate Voting Shares of the company, such that the Bonds which remain outstanding have an aggregate principal amount of less than U.S. $11 million.
 -0- 4/26/93
 /CONTACT: Graham J. Orr, senior vice-president, corporate development and investor relations, 416-477-7766/
 (MG.A. MG.B. MGA)


CO: Magna International Inc. ST: Ontario IN: AUT SU:

KD -- NY031 -- 0534 04/26/93 10:05 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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