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HUSKY INJECTION MOLDING SYSTEMS LTD. announces revised offer of$8.235 per share from ONEX CORPORATION


TORONTO, Ontario – Husky Injection Molding Systems Ltd. (“Husky”) (HKY - TSX) and Onex Corporation (“Onex”) (OCX - TSX) announced today that they, and Robert and Elizabeth Schad, have agreed to amend the price being offered by Onex Partners II, LP (“Onex Partners”) to purchase all the common shares of Husky to a price of $8.235 per share for those held by all shareholders other than the Schads and their holding company, and $8.10 per share for the shares held by the Schads and their holding company. Husky, Onex and the Schads had previously agreed that Onex Partners would offer to purchase all the Husky shares for a price of $8.18 per share. The new split price offer amounts to the same aggregate consideration of approximately $960 million for the acquisition of Husky.

The Schads advised the Husky Board that they had agreed to accept the lower price in order that public shareholders could receive a price that was closer to Robert Schad’s target price for Husky.

The $8.235 per share cash consideration represents a 39.58% premium over the closing price of the common shares on the Toronto Stock Exchange on March 7, 2007, the last trading day prior to the announcement by Husky of the strategic review process.


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