bcIMC Announces Intention to Appeal Magna Decision of the Ontario Superior Court of Justice

August 18, 2010

Victoria, British Columbia — The British Columbia Investment Management Corporation (bcIMC) has decided to appeal the decision of the Ontario Superior Court of Justice approving the plan of arrangement proposed by Magna International Inc. (Magna). bcIMC remains of the view that the arrangement is unfair and unreasonable, and disproportionately favours the Stronach Trust at the expense of the Class A shareholders. bcIMC will withhold further comment pending the decision on the appeal.