Milacron Sets Annual Meeting for June 9

Record Date for Preferred Stock Dividend Changed from May 10 to May 20

CINCINNATI, OHIO, May 10, 2004...Milacron Inc. (NYSE: MZ) today announced that its annual meeting of shareholders will be held at 11:00 a.m. EDT on June 9, 2004 in Reakirt Auditorium of the Cincinnati Museum Center at Union Terminal, 1301 Western Avenue, Cincinnati, Ohio 45203. Shareholders of record as of April 15, 2004 are entitled to attend and to vote at the annual meeting.

Also, Milacron changed the record date from May 10 to May 20, 2004 for the preferred stock dividend of $1.00 per share declared for the current quarter, to be paid on June 1, 2004.

As previously announced on April 23, 2004, Milacron's board also declared preferred stock dividends of $3.00 per share - $1.00 accrued but unpaid for each of the past three quarters - payable on May 14, 2004 to holders of record as of May 1, 2004 - and a preferred stock dividend for the next quarter of $1.00 per share payable on September 1, 2004 with a record date of August 20, 2004.

Milacron currently has 60,000 shares of preferred stock outstanding and approximately 50 million shares of common stock outstanding.

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).