Magna International Inc. ("Magna") and Decoma International Inc. ("Decoma") jointly announced today that they have executed an agreement providing for the purchase by Decoma of Magna's European exterior parts operations ("MES") and Magna's majority equity interest in Decoma Exterior Trim Inc. ("Trimco"). This announcement follows the joint announcement of the two companies on May 18, 2000 of their non-binding agreement to effect this transaction.