MascoTech, Inc. Announces 1997 Results

19 February 1998

    TAYLOR, Mich., Feb. 19 -- MascoTech sales from
its metalworking and aftermarket businesses increased six percent to
approximately $922 million in 1997, while overall sales declined from $1.3
billion in 1996 reflecting the previously announced disposition of certain
businesses.
    Income after preferred stock dividends in 1997 was $109 million or $2.12
per common share.  Results in 1997 include pre-tax gains approximating $83
million principally related to the disposition of the Company's equity
ownership interest in Emco Limited, gains from the Company's marketable
securities portfolio and income resulting from equity transactions by
affiliates.  These gains were partially offset by costs and expenses of
approximately $24 million pre-tax related to plant closure costs, the
Company's share of special charges recorded by equity affiliates, and employee
termination and other expenses.  Excluding the gains and unusual costs, income
after preferred stock dividends in 1997 would have been approximately $73
million or $1.50 per common share.
    Income after preferred stock dividends in 1996 was $38.7 million or $.72
per common share.  Results in 1996 include an after-tax loss of approximately
$26 million related to the sale of the Company's heavy-gauge stamping
operations, which more than offset after-tax income of approximately $11.7
million related to the cumulative effect of an accounting change.  Excluding
the above items, income in 1996 after preferred stock dividends would have
been approximately $53 million or $.98 per common share.
    As previously announced, the Company completed the acquisition of TriMas
Corporation in January 1998 by purchasing all the outstanding shares of TriMas
not already owned by MascoTech for approximately $920 million.
    Also as previously announced, based on current economic trends and
excluding certain costs and expenses associated with the acquisition of TriMas
and anticipated restructuring charges related to the combination of the two
businesses, and any other non-recurring charges, MascoTech expects earnings
for 1998 to approximate $1.80 per common share.
    MascoTech's transportation-related businesses include metalworked
components primarily for vehicle engine and drivetrain applications and
automotive aftermarket products.  TriMas manufactures diversified proprietary
products including specialty fasteners, towing systems, specialty container
products and other industrial products with leadership positions in
commercial, industrial and consumer niche markets.
    Visit MascoTech's website at http://www.mascotech.com.  MascoTech's press
releases are also available through Company News On-Call by fax, 800-758-5804,
extension 535375, or http://www.prnewswire.com.

                      MASCOTECH, INC. ANNOUNCES 1997 RESULTS


                             Three Months Ended        Twelve Months Ended
                                December 31                December 31
                            1997        1996           1997          1996
    Net Sales             $233,620     $271,450     $922,130     $1,281,220
    Cost of Sales         (191,600)    (213,290)    (735,470)    (1,048,110)
    Selling, General and
      Administrative
      Expenses             (21,650)     (31,800)     (89,930)     (132,260)
    Gains (Charge) on Disposition
    of Businesses, Net       4,980         ---         4,980       (31,520)
    Operating Profit        25,350       26,360      101,710        69,330
    Other Income, Net        6,280          920       88,580         7,890

    Income Before Income Taxes and
      Cumulative Effect of
      Accounting Change     31,630       27,280      190,290       77,220
    Income Taxes            12,360       10,830       75,050       37,300

    Income Before Cumulative Effect of
      Accounting Change     19,270       16,450      115,240       39,920

    Cumulative Effect of Accounting
      Change                   ---          ---          ---       11,700
    Net Income             $19,270      $16,450     $115,240      $51,620

    Preferred Stock
      Dividends                ---       $3,240       $6,240      $12,960

    Earnings Attributable to
    Common Stock           $19,270      $13,210     $109,000      $38,660

    Diluted Earnings Per Common Share:
      Income Before
      Accounting Change       $.37         $.28        $2.12        $.50
      Accounting Change        ---          ---          ---         .22
    Earnings Attributable to Common
    Stock                     $.37         $.28        $2.12        $.72

    Average Common Shares Outstanding - Diluted       58,920      53,790

    Amounts in thousands except per share data.


SOURCE  MascoTech, Inc.