TORONTO, ONTARIO -- (Marketwire) -- 11/09/12 --

All amounts in U.S. dollars unless otherwise stated.

Onex Corporation ("Onex") (TSX:OCX) and Canada Pension Plan Investment Board ("CPPIB") today announced the completion of the acquisition of Tomkins' Air Distribution division by CPPIB for $1.1 billion. With this acquisition, CPPIB has acquired directly a significant majority interest in the Air Distribution division, including the portion that CPPIB did not currently own indirectly through Tomkins.

In 2010, Onex and CPPIB jointly acquired Tomkins, an industrial holding company that operates a number of businesses serving the general industrial, automotive and construction markets around the globe.

Tomkins' Air Distribution division is a leading North American manufacturer of products that are used to distribute, recycle and vent air, and which are critical components of HVAC systems within non-residential and residential buildings. The Air Distribution division designs and manufactures a broad range of products which are marketed under many well-known brand names including Titus, Krueger, Ruskin and Hart & Cooley.

RBC Capital Markets, UBS and Barclays served as financial advisers to CPPIB. Credit Suisse, BofA Merrill Lynch and Citigroup served as financial advisers to subsidiaries of Tomkins involved in the transaction.

About Onex

Onex is one of North America's oldest and most successful private equity firms committed to acquiring and building high-quality businesses in partnership with talented management teams. Onex manages investment platforms focused on private equity, real estate and credit securities. In total, the Company manages approximately $14 billion, of which $9.6 billion is third-party capital. Onex invests its $4.8 billion of proprietary capital directly and as a substantial limited partner in its Funds.

Onex' businesses have assets of $39 billion, generate annual revenues of $34 billion and employ approximately 235,000 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.

About Canada Pension Plan Investment Board

Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2012, the CPP Fund totalled C$170.1 billion. For more information, please visit www.cppib.ca.

Forward-Looking Statements

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 and CPPIB are under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.