Sale of Onex Corporation Shares

TORONTO, ONTARIO--(Marketwire - Feb. 29, 2012) - 1597257 Ontario Inc., a company controlled by Gerald W. Schwartz, stated today that it has sold 500,000 subordinate voting shares of Onex Corporation in ordinary market trades through the facilities of the Toronto Stock Exchange. The shares, which represent approximately 0.43% of the outstanding subordinate voting shares, were sold at an average price of $36.4012 per share.

Mr. Schwartz now beneficially owns or exercises control or direction over an aggregate of 22,608,018 subordinate voting shares, representing approximately 19.65% of the total outstanding subordinate voting shares. Mr. Schwartz also beneficially owns and controls all of the outstanding multiple voting shares of Onex. Mr. Schwartz may acquire additional subordinate voting shares, or may sell such shares, in normal course trades, subject to market conditions.