Milacron's Q4 Earnings Release and Conference Call Set for February 11

Results Expected to be in Line with Previous Guidance

CINCINNATI, Ohio - January 26, 2004 - Milacron Inc. (NYSE: MZ), a leading global supplier of plastics-processing technologies and industrial fluids, announced today it will report its financial results for the fourth quarter and year-ended December 31, 2003, on Wednesday, February 11, 2004.

For the fourth quarter, the company expects to report sales slightly above the high end ($193 million) of the range of its guidance issued in October, with new orders at about the same level as sales. Having completed a recent valuation of goodwill, the company also expects to report a non-cash goodwill impairment charge of approximately $14 million pre-tax in the fourth quarter. (This is in addition to a preliminary non-cash goodwill impairment charge of $52.3 million pre-tax taken in the third quarter.) Excluding the goodwill impairment charge, fourth-quarter pre-tax earnings from continuing operations before restructuring costs are expected to be consistent with previous guidance. Cash flow was strong in the fourth quarter, resulting in an ending cash balance of approximately $90 million, up from $62 million at the beginning of the quarter.

Following its usual practice, on February 11 Milacron will release its results in the morning before the market opens. At 11:00 a.m. ET, management will conduct an open investor conference call to discuss the fourth quarter along with the current outlook. The call can be accessed live via the company's website, www.milacron.com. For analysts and investors wishing to ask questions, the dial-in number will be (719) 457-2727.

A recording of the conference call will be available from 2:00 p.m. ET, Wednesday, February 11, through midnight Wednesday, February 18, and may be accessed on Milacron's website, www.milacron.com, or by dialing (719) 457-0820 or (888) 203-1112 and providing the access code: 623637.

First incorporated in 1884, Milacron is a leading global supplier of plastics-processing technologies and industrial fluids, with major manufacturing facilities in North America, Europe and Asia. For further information, visit the company's web site or call the toll-free investor hot line: 800-909-MILA (800-909-6452).