FOR IMMEDIATE RELEASE All amounts in U.S. dollars unless otherwise stated

– Onex Announces Senior Promotions – David Hirsch, Tawfiq Popatia Appointed to Managing Director

Toronto, January 8, 2014 – Onex Corporation ("Onex") (TSX: OCX) today announced the promotion of two senior investment professionals. Effective January 1, 2014, the appointments of David Hirsch and Tawfiq Popatia to Managing Director further strengthen the firm’s senior team.

Mr. Hirsch joined Onex in 2003 and has worked on numerous Onex transactions, including Spirit AeroSystems. In 2012, Mr. Hirsch relocated to the London office to focus on European investment opportunities. Prior to joining Onex, Mr. Hirsch worked at J.P. Morgan Partners and CIBC World Markets. He holds a B.A. from Harvard College and an M.B.A. from Harvard Business School.

Mr. Popatia joined Onex in 2007 and recently led Onex’ investment in BBAM in the aircraft leasing sector. Mr. Popatia will continue to manage the firm’s efforts in transportation-focused industries from the Toronto office. Prior to joining Onex, Mr. Popatia worked at Hellman & Friedman and Morgan Stanley. He holds a B.Sc. and a B.Comm., both from the University of British Columbia.

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 $16 billion of assets under management, including $5 billion of Onex capital, in private equity, credit securities and real estate. Onex invests its capital directly and as the largest limited partner in each of its Funds.

Onex’ businesses have assets of $44 billion, generate annual revenues of $34 billion and employ approximately 229,000 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.

For further information: Emma Thompson Vice President, Investor Relations Tel: 416.362.7711