Onex Subsidiary Spirit AeroSystems Announces IPO Price Range

Market Wire, October, 2006

All amounts in Canadian dollars unless otherwise stated

Onex Corporation (TSX: OCX) announced today that its subsidiary Spirit AeroSystems Holdings, Inc. today filed with the Securities and Exchange Commission an amended registration statement on Form S-1 in connection with its proposed initial public offering of class A common stock. The filing indicated an expected offering price range between US$23.00 and US$25.00 (Cdn$25.72 to Cdn$27.96) per share. Spirit Holdings proposes to offer for sale approximately 10.4 million treasury shares and selling stockholders, including Onex, propose to offer for sale approximately 41.7 million shares. The selling stockholders also propose to grant to the underwriters in the offering an over-allotment option to purchase up to approximately 7.8 million additional shares of class A common stock at the offering price. These share numbers and the proposed offering price reflect a three-for-one split of Spirit's class A common stock.

There can be no assurance that the proposed initial public offering by Spirit will be completed or that it will be completed at the price indicated. Prior to the offering, there has been no public market for the Spirit common stock. Spirit has applied to list the shares on the New York Stock Exchange under the symbol SPR.

This communication shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. When available, a written preliminary prospectus relating to the offering may be obtained from: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, tel: 1-800-221-1037; Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad Street, New York, NY 10004; fax: 1-212-902- 9316, or email at prospectus-ny@ny.email.gs.com ; Morgan Stanley, 180 Varick Street 2/F, New York, NY 10014, tel: 1-866-718-1649, or email at prospectus@morganstanley.com .

Onex manages third party private equity investments through the Onex Partners and ONCAP family of funds. It also manages a real estate fund and a public market fund. Through these activities Onex generates annual management fee income and earns a carried interest on approximately US$3.5 billion of third party capital.

Onex is a diversified company with annual consolidated revenues of approximately $19 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. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX.

For more information on Onex, visit its web site at http://www.onex.com/ .

Onex's security filings also can be accessed at http://www.sedar.com/ .

Contacts: Onex Corporation Nigel S. Wright (416) 362-7711 Website: http://www.onex.com/