EXHIBIT 99.1



       MILACRON
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MANUFACTURING TECHNOLOGIES                                        NEWS RELEASE

CONTACT: AL BEAUPRE (513) 487-5918


               NYSE ACCEPTS MILACRON'S RELIANCE ON AN EXCEPTION
                        TO SHAREHOLDER APPROVAL POLICY

CINCINNATI, OHIO, March 2, 2004...Milacron Inc. (NYSE: MZ), a leading
supplier of plastics processing equipment and supplies and industrial fluids,
today announced that the audit committee of its board of directors has
approved the use of an exception to the New York Stock Exchange's shareholder
approval policy so that the company could possibly issue a number of shares of
common stock, and/or securities that are convertible or exercisable into a
number of shares of common stock, equal to or in excess of 20% of the
34,877,937 million shares of Milacron common stock currently outstanding. These
shares would be issued in the event the company negotiates a refinancing plan
prior to March 15 to satisfy its debt maturities and replace its receivables
securitization program, which recently was extended to March 12.

On March 15, 2004, $115 million in principal amount of the company's senior
notes and approximately $54 million of the company's indebtedness under its
revolving credit facility are due to mature. As Milacron does not have
sufficient cash to satisfy these maturities, it continues to hold discussions
with both current and prospective lenders and investors with respect to
meeting these obligations as well as replacing the receivables program. Many
of the alternatives under discussion would involve the issuance by March 15 of
a number of shares of common stock, or securities convertible or exercisable
into a number of shares of common stock, in excess of 20% of currently
outstanding shares, which would normally require shareholder approval
according to NYSE policy. That policy, however, provides for an exception in
situations where a delay resulting from securing shareholder approval would
seriously jeopardize the financial viability of the company. With insufficient
time to obtain shareholder approval by March 15, Milacron's audit committee,
having determined the delay would seriously jeopardize the company's financial
viability, has approved use of the exception. The NYSE has accepted the
company's reliance on the exception.

Milacron is mailing a letter to all shareholders notifying them of its
intention to possibly issue the shares without seeking their approval. Ten
days after the notice is mailed, if a transaction has been agreed to, the
company may proceed to issue up to 15,122,063 million shares of common stock
and/or securities that are convertible or exercisable into such number of
shares of common stock, consisting of 4,729,151 treasury shares and 10,392,912
previously authorized but unissued shares. The potential transactions
currently being discussed would likely require the eventual issuance of
further additional shares. If Milacron issues additional shares (or securities
convertible or exercisable for additional shares), beyond the initial
15,122,063 shares, Milacron would seek shareholder approval secured in due
course to increase the number of shares of common stock authorized for
issuance under the company's certificate of incorporation and for the issuance
of such securities. At this point in time, it is unclear how many additional
shares of common

                                    -more-






stock (or securities convertible or exercisable for additional shares) would
be issued in connection with any comprehensive refinancing plan pursuant to an
agreement that would provide for the required funds by March 15. Milacron can
make no assurances that it will reach an agreement or enter into a transaction
to provide the necessary funds by March 15.


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).

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