[LOGO OMITTED] MILACRON
========================== NEWS RELEASE
Manufacturing Technologies
Contact: Al Beaupre (513) 487-5918
Milacron Board Convenes Special Meeting
To Consider Proposals Regarding Refinancing
CINCINNATI, OHIO, March 11, 2004...Milacron Inc. (NYSE: MZ), a leading
supplier of plastics processing equipment and supplies and industrial fluids,
today announced that its board of directors has convened a special meeting
this evening to consider proposals to refinance its upcoming $115 million
outstanding senior notes due March 15, 2004, $54 million in revolving credit
facility indebtedness also maturing March 15, 2004, and $30 million of
receivable financing terminating on March 12, 2004.
The proposals under consideration by the board include a counter proposal
advanced by representatives of the ad hoc bondholder committee, as well as
proposals made by various potential new lenders and investors with respect to
both its short- and long-term financing options.
The company hopes to announce a refinancing plan shortly.
Milacron can make no assurance that it will reach an agreement with the ad hoc
bondholder committee or enter into a transaction with any new lenders or
investors to provide the necessary funds by the date needed.
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).