Onex Corporation Files Normal Course Issuer Bid

TORONTO, ONTARIO, Apr 10 (MARKET WIRE) --
All amounts in Canadian dollars unless otherwise stated

Onex Corporation (TSX: OCX) announced today that it has filed with the
Toronto Stock Exchange, and the Exchange has accepted, a Notice of
Intention to make a Normal Course Issuer Bid permitting Onex to purchase
for cancellation up to 10% of the public float in its Subordinate Voting
Shares, or 9,423,541 shares. There are 123,877,352 Subordinate Voting
Shares issued and outstanding and the public float as at March 31, 2008
was 94,235,414 shares.

Onex may buy back shares from time to time during the next twelve months.
Any purchases made under the Normal Course Issuer Bid will be effected
through the facilities of the Exchange. Onex commenced a similar bid on
April 12, 2007, which bid expires on April 11, 2008 and under which a
total of 5,055,800 Subordinate Voting Shares have been purchased prior to
the date hereof at an average purchase price of $32.90 per share. Onex
may purchase up to 76,083 Subordinate Voting Shares during any trading
day, being 25% of its average daily trading volume for the most recently
completed six calendar months. Onex may also purchase Subordinate Voting
Shares from time to time under the Exchange's block purchase exemption,
if available.

Onex is renewing the Normal Course Issuer Bid as it is of the view that
it is advantageous to Onex and its shareholders to continue to engage in
repurchases of Subordinate Voting Shares, from time to time, when they
are trading at prices which reflect a significant discount from their
value as perceived by Onex.

The Normal Course Issuer Bid will commence on April 14, 2008 and will
conclude on the earlier of the date on which purchases under the bid have
been completed and April 13, 2009.

Onex makes private equity investments through the Onex Partners and ONCAP
families of funds. Onex also manages alternative asset platforms focused
on Real Estate and Distressed Credit. Through its Funds, Onex generates
annual management fee income from third parties and is also entitled to a
carried interest on $4.4 billion of that capital. In addition, Onex
invests its own $4.1 billion of capital in both direct investments and as
a Limited Partner in its Funds. Onex' businesses generate annual revenues
of $33 billion, have assets of $38 billion and employ 237,000 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.

Contacts:
Onex Corporation
Andrea E. Daly
(416) 362-7711
Website: www.onex.com

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