Milacron Settles Patent Dispute with Graham Engineering

CINCINNATI, Ohio - July 1, 2004...Milacron Inc. (NYSE: MZ) today announced it had finalized a license agreement with Graham Engineering Corporation of York, Pennsylvania, settling their litigation with respect to patented control technology for plastic molding machines on a mutually acceptable basis. According to the agreement, Milacron will grant Graham Engineering a paid-up, non-exclusive license to use the U.S. patented control technology, and the suit pending between them in the Federal District Court for the Northern District of Ohio, Eastern Division, will be dismissed.

Exact terms of the agreement were not disclosed. The settlement will have no material effect on Milacron's earnings or operating cash flow.

First incorporated in 1884, Milacron is a leading global supplier of plastics-processing technologies and industrial fluids, with 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).