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MascoTech and Heartland Industrial Partners, L.P. Complete Merger

29 November 2000

MascoTech, Inc. and Heartland Industrial Partners, L.P. Complete Merger

    TAYLOR, Mich., Nov. 28 MascoTech, Inc.
announced today that it completed a recapitalization merger with an affiliate
of Heartland Industrial Partners, L.P.
    As a result of the merger, each outstanding share of MascoTech common
stock was converted into the right to receive $16.90 in cash plus additional
cash amounts from the net proceeds of the disposition of the stock of Saturn
Electronics & Engineering, Inc. held by MascoTech as specified in the
recapitalization agreement between MascoTech and the Heartland affiliate dated
August 1, 2000, as amended.  Although no disposition of the stock of Saturn
Electronics & Engineering was made prior to the merger, holders of common
stock will be entitled to net proceeds, if any, from any subsequent
disposition of that stock if and when the disposition is completed.
    Holders of record of MascoTech common stock as of today will receive
written instructions on how to surrender their shares of common stock for
payment.  Shares of MascoTech will cease trading on the New York Stock
Exchange as of the close of the market today.
    The value of the transaction, including the assumption of debt, was in
excess of $2 billion, including asset sales.  Masco Corporation, MascoTech's
Chairman, Richard A. Manoogian (and a related affiliate), and other members of
management retained an equity stake of approximately 20% of the company.