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MascoTech, Inc. Announces Q3 Results

27 October 1998

MascoTech, Inc. Announces Third Quarter Results Should Meet Analyst Consensus

    TAYLOR, Mich., Oct. 27 -- Frank M. Hennessey, Chief Executive
Officer of MascoTech, Inc. , speaking at an investor conference in
New York, announced that the Company expects earnings per common share for the
third quarter of 1998 to equal or modestly exceed the consensus analyst
estimate of approximately $.32.  The Company expects to report earnings at the
close of business on Monday, November 2, 1998.
    Mr. Hennessey also stated:
    "We are very pleased with our recent strategic acquisitions and the other
growth initiatives that we are pursuing which should result in value creation
opportunities for our shareholders.  Although it is possible that anticipated
softness in certain of our markets related to global economic conditions could
moderate our near-term operating performance, we continue to believe that
1999 operating results will exceed 1998.  I am very excited about the
long-term prospects for our business."
    In addition, the Company announced that pursuant to a previous Board of
Directors authorization that it has purchased, during recent months,
approximately two million shares of its Common Stock in open market purchases.
The Company currently has approximately 49 million common shares outstanding.
    MascoTech is a diversified manufacturing company with world-leading
metalforming process capabilities and proprietary product positions serving
transportation, industrial and consumer markets.
    Statements in this press release, which are not historical facts are
forward looking statements that involve certain risks and uncertainty
including but not limited to, risks associated with the uncertainty of future
financial results, conditions within the markets in which the Company
competes, labor relations of the Company and certain of its customers and
other uncertainties detailed in the Company's filings with the Securities and
Exchange Commission.