Milacron (MZ) Declares Dividends

CINCINNATI, OHIO, April 23, 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 May 10, 2002, dividends on common stock will be paid on June 12, 2002, and dividends on preferred stock will be paid on June 1, 2002.

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With 2001 sales of $1.26 billion, 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 9,500 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).