Mr. Michael Lay reports

ONCAP AND GRIFFON CORPORATION ANNOUNCE THE LAUNCH OF VERITAGE BRANDS

ONCAP, the lower mid-market private equity platform of Onex Corp., and Griffon Corp. have launched Veritage Brands, a leading global provider of hand tools, home organization solutions, and lawn and garden products for professionals and consumers.

Veritage Brands was formed through a joint venture of Bellota Tools, Corona, and Burgon & Ball, formerly subsidiaries of the Venanpri Group, majority owned by ONCAP, and Griffon's AMES Companies businesses in North America.

"Veritage Brands brings together global leaders in professional and consumer tools, home storage and organization solutions, and lawn and garden products," said Michael Lay, executive chair at ONCAP. "Veritage Brands will be able to leverage the strengths of both organizations while streamlining operations and capturing the benefits of economies of scale. We are excited to work with our partners at Griffon to realize this vision."

Veritage comprises leading professional and consumer brands, including AMES, Bellota, Burgon & Ball, ClosetMaid, Corona, Garant, Razor-Back, and True Temper, serving customers in North, Central and South America, and Europe, and with major operating facilities located in the United States, Spain, Canada, Mexico and Colombia.

Veritage is managed as a subsidiary of Venanpri, which, together with other affiliates of ONCAP, holds a 57-per-cent equity interest. Griffon participates in the governance and oversight of the joint venture as a 43-per-cent equityholder. Venanpri's Agrisolutions business, including the Bellota Agrisolutions and Ingersoll brands, are not part of Veritage and will continue to be wholly owned by Venanpri.

"Veritage Brands brings together trusted, iconic brands that are highly respected in their home markets and share an almost 300-year legacy," said Ronald J. Kramer, chairman and chief executive officer of Griffon. "The formation of Veritage Brands creates a leading provider of professional and consumer tools, home storage and organization solutions, and lawn and garden products with critical scale and global reach."

Canaccord Genuity LLC acted as financial adviser, and Torys LLP acted as legal counsel to ONCAP and Venanpri. Goldman Sachs & Co. LLC acted as financial adviser, and Dechert LLP acted as legal counsel to Griffon.

About ONCAP

Founded in 2000, ONCAP is the dedicated lower mid-market private equity platform of Onex, committed to investing in and partnering with North American headquartered businesses and their management teams in its core sectors of emphasis. Today, ONCAP operates with a team of 35 employees managing $3.7-billion in assets across offices in Toronto and New York.

About Onex Corp.

Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, Onex has a long record of creating value for its clients and shareholders. Onex's investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices, and high-net-worth individuals. In total, Onex has approximately $55.8-billion in assets under management, of which $9.4-billion is Onex's own investing capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex's platforms.

Onex is listed on the Toronto Stock Exchange under the symbol ONEX.

About Griffon Corp.

Griffon is a leading provider of residential and commercial building products. The company is the largest North American manufacturer and marketer of garage doors under the Clopay, IDEAL and Holmes brands, and rolling steel door and grille products under the Clopay, Cornell and Cookson brands. The company is also a leading provider of residential, industrial and commercial ceiling fans sold under the Hunter, Casablanca and Jan Fan brands.

AMES Australia is classified as a discontinued operation.