TORONTO, ONTARIO--Onex Corporation reported today that Mr. Gerald W. Schwartz has exercised 7,800,000 options to acquire Subordinate Voting Shares of Onex Corporation and was subsequently granted 7,260,000 options, with an exercise price of $15.87 (market close on February 16, 2004), to acquire Subordinate Voting Shares under the terms of Onex' Stock Option Plan. As a result of these transactions, Mr. Schwartz has 540,000 fewer options to acquire Subordinate Voting Shares. Mr. Schwartz elected to exercise the 7,800,000 options under the Plan's cash-pay alternative and, thus, his ownership of Subordinate Voting Shares has not changed.
Mr. Schwartz owns directly and indirectly approximately 27.5 million Subordinate Voting Shares and has sold less than one half of one percent of his ownership in Subordinate Voting Shares in the last three years.
Onex Corporation is a diversified company with annual consolidated revenues of approximately $17 billion and consolidated assets of approximately $15 billion. Onex is one of Canada's largest companies with global operations in service, manufacturing and technology industries. Its subsidiaries include Celestica Inc., Loews Cineplex Entertainment Corporation, Magellan Health Services, Inc., ClientLogic Corporation, Dura Automotive Systems, Inc., J.L. French Automotive Castings, Inc., Bostrom Holding, Inc., InsLogic Corporation, Performance Logistics Group, Inc. and Radian Communication Services Corporation. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX.
For more information on Onex Corporation, visit its website at www.onex.com.
Onex Corporation's security filings can also be accessed at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ewout R. Heersink or Donald Lewtas (416) 362-7711
