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During the second quarter, Carestream raised approximately $2.4 billion of funded debt, primarily to refinance existing debt and to fund a $750 million distribution, of which Onex' share was about $300 million. Including prior distributions, Onex has received 265% of its initial equity investment and still owns its entire original equity stake in a business generating almost $200 million of free cash flow.

In June, ONCAP sold its investment in BSN SPORTS. Over the course of our three-year ownership, ONCAP and its partners grew the business through accretive acquisitions, a re-branding initiative and the expansion of sales resources, all while improving efficiencies throughout the organization. The successful execution of ONCAP's investment thesis resulted in a return of approximately 4.2 times capital invested and net proceeds of $103 million to Onex. ONCAP thoroughly enjoyed the partnership with BSN's CEO, Adam Blumenfeld, and his team, who have accomplished so much during the last three years. We wish them ongoing success as they continue to grow this great company.

Following quarter-end, Allison Transmission priced a secondary offering to the public of 19.1 million shares of common stock at $22.00 per share and repurchased 4.7 million shares directly from Onex and its partner, The Carlyle Group, resulting in a total sale of 23.8 million shares. Net proceeds from the offering to the Onex Partners II Group will be approximately $252 million, of which Onex' share will be about $84 million, including carried interest. Pro forma for the offering, Onex and Carlyle will collectively own 70% of Allison Transmission.

By transforming good businesses into industry leaders, Onex has generated a 29-year gross IRR of 28% and an average multiple of 2.9 times capital invested from realized, substantially realized and publicly traded investments.

As we build value at our existing businesses, we continue to look for new acquisition opportunities. In June, we completed the acquisition of Nielsen Expositions, now operating as Emerald Expositions, investing approximately $350 million, of which Onex' share was about $85 million as a limited partner in Onex Partners III.

In addition to Onex' commitment to every investment, the team is heavily invested in everything we own. At June 30, 2013, the value of the team's investment in Onex shares and its businesses was approximately $1.7 billion.

Managing and Growing Other Investors' Capital

Onex earns recurring management fees and/or carried interest on $9.5 billion of capital managed for limited partners and other investors. In 2012, combined management fees and carried interest received offset ongoing operating expenses.

At June 30, 2013, the value of Onex' unrealized carried interest was approximately $56 million based on the traded market values of Onex Partners' public companies and a further $88 million based on the quarter-end valuations of the private businesses. The amount of carried interest ultimately realized by Onex depends on the overall performance of each Fund.

With Onex Partners III almost 90% invested, Onex recently launched the fundraising for Onex Partners IV, targeting $4.5 billion of total capital commitments, of which Onex will commit $1.2 billion. A new fund would contribute to Onex' stream of annual management fees and the potential to earn carried interest on invested limited partner capital. Onex' limited partnership agreements typically have a 10-year term and provide predictable management fees from assets under management.

We continue to grow our credit investing platform and are accumulating assets in a warehouse in anticipation of a fourth CLO offering. Our credit team and platform give us the capability to place a number of offerings each year should market conditions remain attractive. Recurring management fees from CLOs and other credit products create additional value for Onex shareholders.

Creating Value for Shareholders

Including realizations and distributions of approximately $500 million, the value of Onex' interest in Onex Partners' and ONCAP's private investments grew by 20% and 16%, respectively, in the six months ended June 30, 2013. Overall, Onex' capital per sharegrew by 9% and 18% in the six and twelve months ended June 30, 2013, respectively, to $45.27 or C$47.61.

Over time, we hope that the value of Onex' shares reflects both growth in the value of our assets and the intrinsic value of our asset management capabilities. At June 28, 2013, Onex' Subordinate Voting Shares ("SVS") closed at C$47.72, a 14% increase from December 31, 2012. This compares to a 13% increase in the S&P 500 and a 2% decrease in the S&P/TSX Composite Index.

In the first seven months of 2013, Onex repurchased 1,113,500 SVS under its Normal Course Issuer Bids for a total cost of approximately C$50 million or an average cost per share of C$44.75. Over the last 17 years, Onex has repurchased over 75 million SVS for a total cost of approximately C$1.2 billion.

Attached is the "How We Are Invested" schedule, which details Onex' $5.4 billion of capital and provides private company performance information.

Consolidated Results

The Company will provide Unaudited Interim Consolidated Balance Sheets, Statements of Earnings, Statements of Cash Flows and information by industry segment for the quarter ended June 30, 2013 and 2012 as prepared under International Financial Reporting Standards once Spirit AeroSystems has reported its second-quarter results. The complete financial statements, including Management's Discussion and Analysis of the results, will be posted on Onex' website (www.onex.com) and will be available on SEDAR (www.sedar.com) at that time.

Webcast

Onex management will host a conference call to review Onex' second-quarter 2013 activities on Thursday, August 8 at 11:00 a.m. ET. A live webcast of this conference call will be available in listen-only mode on its website, www.onex.com.

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 a substantial limited partner in its Funds.

Onex' businesses have assets of $45 billion, generate annual revenues of $36 billion and employ approximately 236,000 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.

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

The proposed fourth CLO offering or any other future CLO offering will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws. CLO offers and sales will be made in transactions that do not require (or are otherwise exempt from) such registration. Those securities may not be reoffered or resold in the United States absent registration or an exemption from registration under that Act and state securities laws.