COSMA TO LOCATE NEW FACILITY IN BOWLING GREEN

FRANKFORT, KY - Governor Ernie Fletcher and Economic Development Cabinet Secretary Marvin E. Strong along with officials from the Cosma International Group of Magna International, Inc., an internationally known auto parts company, today announced that Cosma has entered into an agreement with the Inter-Modal Transportation Authority to acquire approximately 132 acres in the Kentucky Trimodal Transpark in Bowling Green, KY, where they plan to construct a new facility, subject to completion of Cosma's final due diligence and the subject purchase transaction.

"I am very pleased to hear that Magna has decided to locate in Bowling Green and we welcome them to the Commonwealth," said Governor Ernie Fletcher. "Kentucky will soon become a place where businesses can grow and flourish because Steve Pence and I are committed to creating a business friendly environment that will create more jobs and opportunities for every Kentuckian."

Magna International Inc. is a leading global supplier of technology advanced automotive systems, components, and complete modules. As of September 2003, Magna employed approximately 72,000 people at 201 manufacturing divisions and 48 product development and engineering centers throughout North and South America, Mexico, Europe and Asia.

Magna's Cosma International Group, which employs approximately 14,000 people at 31 automobile metal forming divisions and 6 product development and engineering centers in the United States, Canada, Mexico, and Europe, will be establishing an automotive production facility in Bowling Green.

"This is extremely good news for the Bowling Green area," stated Strong. "We are continually working to attract good quality jobs and having Magna locate in Warren County says a lot about Magna's confidence in Kentucky and our workforce."

"We are excited about the opportunities Magna will bring to the region and look forward to establishing a strong partnership with them," stated Mayor Sandy Jones. "Having a company of Magna's caliber as a corporate citizen is truly an honor." Warren County Judge Executive Mike Buchanon echoed her sentiment saying, "This is an exciting project for Warren County, the City of Bowling Green and the entire region and we are pleased to welcome Magna to south central Kentucky."

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The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2002 totaled more than $3.2 billion with the creation of nearly 13,000 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.thinkkentucky.com.