MILACRON
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   MANUFACTURING TECHNOLOGIES                                 NEWS RELEASE

CONTACT: AL BEAUPRE (513) 487-5918

BANKS EXTEND MILACRON'S ACCOUNTS RECEIVABLE FACILITY

CINCINNATI, OHIO, March 1, 2004...Milacron Inc. (NYSE: MZ), a leading supplier
of plastics processing equipment and supplies and industrial fluids, announced
that its receivables purchase agreement and the liquidity facility related to
that program, which were due to terminate last Friday, February 27, have been
extended two weeks to March 12.

Under the amended agreement, which is being filed with the Securities and
Exchange Commission, the company can sell up to $30 million of receivables.
Prior to this extension, the program had been capped at $40 million, of which
only $30 million was being utilized. PNC is the agent bank for the receivables
program.

On March 15, 2004, $115 million in principal amount of the company's senior
notes and approximately $54 million of the company's indebtedness under its
revolving credit facility are due to mature. While Milacron does not have
sufficient cash to satisfy these maturities, it continues to hold discussions
with both current and prospective lenders and investors with respect to
meeting these obligations as well as replacing the receivables program.
However, the company can make no assurances that these discussions will result
in an agreement to provide the necessary funds by March 15.

The forward-looking statements above by their nature involve risks and
uncertainties that could significantly impact operations, markets, products
and expected results. For further information please refer to the Cautionary
Statement included in the Company's most recent Form 10-Q on file with the
Securities and Exchange Commission.

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First incorporated in 1884, Milacron is a leading global supplier of
plastics-processing technologies and industrial fluids, with about 3,500
employees and major manufacturing facilities in North America, Europe and
Asia. For further information, visit www.milacron.com or call the toll-free
investor line: 800-909-MILA (800-909-6452).