Onex to Sell Interest in RSI Home Products

Onex Corporation is to sell its 50 percent interest in RSI Home Products to the company for proceeds of approximately $323 million. The transaction is expected to close by the end of the first quarter and is subject to customary closing conditions, including a financing condition for the benefit of RSI.

PRESS RELEASE

Onex Corporation (“Onex”) CA:OCX -0.38% and its affiliates (the “Onex Group”) today announced an agreement to sell their 50% interest in RSI Home Products (“RSI”) to the company for proceeds of approximately $323 million. The transaction is expected to close by the end of the first quarter and is subject to customary closing conditions, including a financing condition for the benefit of RSI.

The Onex Group made a $318 million preferred equity investment in RSI in October 2008. Upon completion of the transaction, the Onex Group will have received proceeds of approximately $471 million, including prior distributions, which will result in a multiple of invested capital of approximately 1.5 times and an 11% rate of return. Onex’ portion of the proceeds would be approximately $186 million, including the prior distributions.

“We’re pleased to have invested alongside RSI’s founder and management team and we wish them continued success,” said Anthony Munk, a Managing Director of Onex.

About Onex

With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $14 billion of assets under management, including $4.8 billion of proprietary capital, in private equity, credit securities and real estate. Onex invests its proprietary capital directly and as a substantial limited partner in its Funds.

Onex’ businesses have assets of $43 billion, generate annual revenues of $37 billion and employ approximately 250,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com . The Company’s security filings can also be accessed at www.sedar.com .

This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

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