Milacron (MZ) Declares Dividends; Annual Meeting Date Set

CINCINNATI, OHIO, February 12, 2002 –Milacron Inc. (NYSE: MZ) today announced that its board of directors declared quarterly dividends of $.01 per share on common stock and $1.00 per share on preferred stock. To holders of record February 28, 2002, dividends on common stock will be paid on March 12, 2002, and dividends on preferred stock will be paid on March 1, 2002.

The same record date, February 28, 2002, was set for determination of shareholders entitled to notice of and to vote at the annual meeting of shareholders, to be held at 9:00 a.m. EDT on Tuesday, April 23, 2002 at the Queen City Club, 331 East Fourth Street, Cincinnati, Ohio, 45202.

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Milacron Inc. (NYSE: MZ) is a world leader in plastics processing and metalworking technologies with major manufacturing facilities in North America, Europe and Asia and 10,000 employees worldwide. Plastics technologies include injection molding machines, blow molding equipment, extrusion systems and wear items, mold bases, mold-making equipment and mold components, as well as aftermarket and MRO (maintenance, repair and operating) parts and services. Metalworking technologies include carbide metalcutting inserts, tool holders, carbide and high-speed steel round tools, metalworking fluids, grinding wheels, and carbide die and wear parts.

For further information, visit the company's web site, www.milacron.com, or call the toll-free investor hot line: 800-909-MILA (800-909-6452).