Milacron (MZ) Declares Dividends on Preferred Stock

CINCINNATI, OHIO, November 2, 2004 - Milacron Inc. (NYSE: MZ) today announced that its board of directors has declared a dividend for the first quarter of 2005 of $1.00 per share on its 4% Cumulative Preferred Stock to be paid on March 1, 2005 to holders of record as of February 28, 2005. Previously, on July 29, 2004 the board had declared a dividend for the fourth quarter of 2004 of $1.00 per share on its 4% Cumulative Preferred Stock payable on December 1, with a record date of November 18.

Milacron's board of directors also declared a dividend of $3.00 per share on its 6% Series B Convertible Preferred Stock for the period of September 1 through November 30. The dividend, payable on December 1 to holders of record as of November 18, is contingent on the company's satisfying an availability test under its revolving credit facility at the time of payment.

No dividends were declared on Milacron common stock.

Milacron currently has outstanding: 60,000 shares of 4% Cumulative Preferred Stock, 500,000 shares of 6% Series B Convertible Preferred Stock, and approximately 36 million shares of common stock.

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).