Onex Subsidiary, Commercial Vehicle Group, Files Initial Public Offering

TORONTO--May 2, 20045, 2004--Onex Corporation (TSX:OCX) announced today that its subsidiary, Commercial Vehicle Group, Inc. ("Commercial Vehicle Group"), which includes the combined operations of Commercial Vehicle Group, Inc. and Trim Systems, Inc., has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering of up to U.S.$150,000,000 of its common stock. The offering will consist of primary shares to be sold by Commercial Vehicle Group, as well as secondary shares to be sold by an affiliate of Onex Corporation and other co-investors in Commercial Vehicle Group. The net proceeds to be received by Commercial Vehicle Group in the offering will be used to repay outstanding indebtedness and for general corporate purposes.

Credit Suisse First Boston LLC, Robert W. Baird & Co. Incorporated, and Lehman Brothers Inc. are underwriting the offering.

Commercial Vehicle Group supplies interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market, including the heavy-duty (Class 8) truck market, construction market and other specialized transportation markets.

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. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. A copy of the prospectus, when available, may be obtained from Credit Suisse First Boston, Prospectus Dept., One Madison Avenue, New York, New York (telephone: 212-325-2580) or by faxing requests to 212-325-8057.