Milacron President Harold J. Faig to Retire on September 30

CINCINNATI, OHIO, August 8, 2003...Milacron Inc. (NYSE: MZ) today announced that Harold J. Faig, president and chief operating officer, has decided to take early retirement effective at the end of September, after 36 years of dedicated service.

"Speaking for myself and on behalf of the board of directors, we have always valued Harold's energy and leadership," said Ronald D. Brown, chairman and chief executive officer.  "We can't thank him enough for all he has done for Milacron.

"Harold is retiring from a company that is highly regarded as an industry leader in the markets we serve," Brown said.  "He can be proud not only of his major contributions to this reputation but also for helping to establish a very strong leadership team to move the company forward."

That operational team now reports directly to Brown and includes Dr. Karlheinz Bourdon, Machinery Technologies, David E. Lawrence, Mold Technologies, Robert C. McKee, Industrial Fluids, and Jonathan J. Woerner, Global Sourcing and Manufacturing.  No replacement for Faig is currently being sought.

"It's long been my personal goal to retire early," Faig said.  "And I believe the timing is very appropriate for Milacron as well.  We have great products, very strong leadership, and a lean organization in place to begin to grow again.  All we really need going forward is a little cooperation from the economy.  As I move on to another chapter in my life, I do want to thank my many Milacron friends for their dedication that has taken our plastics business from a bold idea to a world leader over the last 36 years."

Faig, 55, began his career at Milacron in 1967 in manufacturing.  During his career with the company he held numerous positions of increasing responsibility.  In 1990 he was named vice president for injection molding machinery and in 1994 he became group vice president of plastics machinery, later changed to plastics technologies.  He was elected president and chief operating officer in September, 2002.

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).