-- Revenue increased 24 % for the quarter
    -- Net income increased 43 % for the quarter
    -- Earnings per share increased 36 % for the quarter

MIAMI, April 26 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) reported net income of $16.4 million or $0.34 per share on revenue of $337.2 million for the three months ended March 31, 2001, compared to net income of $11.5 million or $0.25 per share on revenue of $272.7 million for the same period in 2000, an increase of 43% in net income and 24% in revenue over the same period last year. Cash basis earnings -- which exclude the amortization of intangibles -- were $0.38 per share in the first quarter of 2001 compared to $0.30 per share in 2000. These financial results, including the segment information below, excludes an after tax provision of $13.1 million or $0.27 per share for the first quarter of 2001 primarily related to a reserve for a portion of receivables due from clients who have filed for Chapter 11 bankruptcy reorganization recently or who have experienced difficulties in raising funding due to current economic conditions.

MasTec reported the following:

Datacom Network Services revenue was $287.8 million in the first 2001 quarter, up 28% from $225.0 million in the same quarter last year. Operating margin was 11.4% in 2001 compared to 12.0% in the same quarter last year. The decline in operating margin was primarily due to a rapid deceleration of demand for our switching and central office services in our Network Services Division. The rapid changes required us to make difficult decisions including team member reductions during April 2001.

Energy Network Services revenue was $36.0 million in 2001, down 3.7% from $37.4 million in the same quarter last year. Operating margin was 8.1% in 2001, compared to 6.1% percent in the same quarter last year.

Our Brazilian operations reported revenue of $13.4 million in 2001 up 30.1% compared to $10.3 million in the same quarter last year and generated a loss of $163 thousand compared to a loss of $622 thousand in 2000.

Backlog at March 31, 2001, was $1.6 billion, including master service agreements, substantially all of which will be performed in the next 18 months.

"Our business strategy and long-term vision has not changed. We remain focused on building a diversified service offering and a diversified client base. We realize, however, that there will be periods of growth above and below expectations," said Joel-Tomas Citron, President and CEO. "While our visibility was strong during the first quarter, we believe that recent events in the telecommunications industry warrant a cautious near-term outlook. We remain confident that we will maintain the Company's position as an industry leader meeting the outsourcing needs of our clients. We project revenue growth for 2001 of 10% and EPS of $1.74 to $1.82. For the quarter ending June 30, 2001, we anticipate revenue of approximately $330 to $340 million and EPS of approximately $0.41 to $0.43."

Members of the executive team will hold a conference call on Thursday, April 26, at 12:30 p.m. (EST) to discuss the Company's performance. The conference call number is 913-981-5591. Please dial in to the teleconference 10-15 minutes in advance. A conference call replay will be available from April 26 through May 10 by dialing 719-457-0820, confirmation code 555269. Additionally, the call will be webcasted. Please log on to http://www.videonewswire.com/MASTEC/042601/ to listen to MasTec's Earnings Conference Call.

Please visit MasTec's Investor Relations web page at http://www.mastec.com/frame_investor.asp for financial sections of the press release. These sections may be downloaded into Excel for your convenience in analyzing Company data. Faxed copies of the financial sections are available by calling toll free 1-800-444-7797.

MasTec is the leading end-to-end communications and energy infrastructure service provider in North America. MasTec <www.mastec.com> designs, builds, installs and maintains internal and external networks supporting the Internet, Internet-related applications, e-commerce and other communications and energy facilities for leading telecommunications, cable television, energy and Fortune 1000 companies.

This press release and any accompanying documents contain or may contain forward-looking statements, such as statements regarding MasTec's future growth and profitability, growth strategy, and anticipated trends in the industries and economies in which MasTec operates. These forward-looking statements are based on MasTec's current expectations and are subject to a number of risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from results expressed or implied in any forward-looking statements made by MasTec in this press release. These and other risks are detailed in this press release or documents filed by MasTec with the Securities and Exchange Commission. MasTec does not undertake any obligation to revise these forward-looking statements to reflect future events or circumstances.

                                  MASTEC, INC.
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (In thousands)

                                                      Three Months Ended
                                                           March 31,
                                                    2001             2000
    Cash flow from operating activities:
      Net income                                   $3,297          $11,477
      Adjustments to reconcile net income
       to net cash used in operating activities:
        Depreciation and amortization              16,194           16,979
        Minority interest                             137             (145)
        (Loss) gain on sale or write
         downs of assets                             (241)               3
        Changes in assets and liabilities net
         of effect of acquisitions                (43,361)         (48,905)
    Net cash used in operating activities         (23,974)         (20,591)

    Net cash used in investing activities         (17,147)          (9,494)

    Net cash provided by financing activities      37,909           56,188
    Net (decrease) increase in cash and
     cash equivalents                              (3,212)          26,103
    Effect of translation on cash                    (625)             532
    Cash and cash equivalents-beginning of period  18,457           27,635
    Cash and cash equivalents-end of period       $14,620          $54,270

                              Building the e-World


                                  MASTEC, INC.
                           CONSOLIDATED BALANCE SHEETS
                                 (In thousands)

                                                  March 31,      December 31,
                                                    2001            2000
                             Assets
    Current assets:
     Cash and cash equivalents                    $14,620          $18,457
     Accounts receivable, unbilled revenue
      and retainage, net                          380,914          392,585
     Inventories                                   19,654           19,643
     Other current assets                          17,822           23,079
        Total current assets                      433,010          453,764

    Property and equipment, net                   160,343          159,673
    Intangibles, net                              262,343          262,398
    Other assets                                  101,233           89,044

        Total assets                             $956,929         $964,879

                Liabilities and Shareholders' Equity

    Current Liabilities:
     Current maturities of debt                    $6,792           $5,685
     Accounts payable and accrued expenses         68,400           85,797
     Other current liabilities                     96,197          128,379
        Total current liabilities                 171,389          219,861

    Other liabilities                              38,762           38,530

    Long-term debt                                244,166          206,160

    Commitments and contingencies

    Shareholders' equity:
     Common stock                                   4,773            4,770
     Capital surplus                              346,513          346,099
     Retained earnings                            169,647          166,350
     Foreign currency translation adjustments     (18,321)         (16,891)
        Total shareholders' equity                502,612          500,328

        Total liabilities and
         shareholders' equity                    $956,929         $964,879

                              Building the e-World


                                   MASTEC, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                     (in thousands, except per share amounts)

                                                      Three Months Ended
                                                           March 31,
                                                    2001             2000

      Revenue:
       Datacom                                   $287,792         $225,009
       Energy                                      36,017           37,363
       Brazil                                      13,403           10,322
                                                  337,212          272,694
      Costs of revenue                            265,358          208,929
      Depreciation                                 13,318           13,478
      Amortization                                  2,876            3,501
      General and administrative expenses (a)      47,914           23,112
      Interest expense                              4,712            5,556
      Interest income                               2,433            1,213
      Other income, net                               441              380
      Income before provision for income taxes
       and minority interest                        5,908           19,711
      Provision for income taxes                    2,474            8,379
      Minority interest                              (137)             145

      Net income                                   $3,297          $11,477

      Pro forma earnings per share (a)
      Weighted average common shares outstanding   47,712           43,805
      Basic earnings per share (a)                  $0.34            $0.26
      Weighted average common shares outstanding   49,007           45,852
      Diluted earnings per share (a)                $0.34            $0.25

      Actual earnings per share
      Basic earnings per share                      $0.07            $0.26
      Diluted earnings per share                    $0.07            $0.25

    (a) Included in general and administrative expenses is a $22.0 million
        reserve ($0.27 per share after tax) which has been excluded from the
        calculation of pro forma earnings per share.

                               Building the e-World

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SOURCE MasTec, Inc.
Web site: http: //www.mastec.com
CONTACT: Carmen M. Sabater, Executive Vice President & CFO of MasTec, 305-406-1866, or csabater@mastec.com