MasTec Announces Jose Ramon Mas Will Become CEO in March 2007

MasTec Announces Jose Ramon Mas Will Become CEO in March 2007

CORAL GABLES, Fla., Nov. 27 /PRNewswire-FirstCall/ -- MasTec, Inc. (NYSE:MTZ) today announced that its Board of Directors has named Jose Ramon Mas, the Company's Vice Chairman and Executive Vice President of Corporate Development, to the role of President and CEO at the end of Austin Shanfelter's current contract, which runs through March 31, 2007. Mr. Shanfelter will remain with the Company as a director and as a special consultant to MasTec.

Jose Mas grew up in the business and has worked from the field to the boardroom at MasTec. Mr. Mas started with MasTec in 1992, and from 1999 until 2001 he was head of MasTec's Communications Group, responsible for approximately $350 million in annual revenue. Since August of 2001, he has served as Vice Chairman of the Board of Directors and Executive Vice President of Business Development, primarily responsible for the Company's customer marketing and acquisition activity. During that time, the growth in many of MasTec's largest customers including DIRECTV, BellSouth, Verizon and Florida Power and Light is attributable to his efforts. Additionally, during the Company's turnaround in 2003-2006 he worked closely with Mr. Shanfelter in developing strategy, implementing the tight control of cash, assisting with margin improvement and working with key customers.

Jose Mas is a graduate of the University of Miami, where he obtained a Bachelor of Business Administration and a Master of Business Administration. He is a Director of the Mas Family Foundation, and active supporter of various children's and religious charities.

MasTec's Chairman, Jorge Mas, noted that, "Mr. Shanfelter has taken MasTec through a very difficult time in the Company's history. We thank him for his leadership, determination and hard work. Jose Mas' appointment to the CEO role is a result of our board's ongoing succession planning, which has aligned and positioned his proven leadership skills, experience and relationships with our major customers and the many strategic opportunities ahead for MasTec. We have a very bright future with Jose Mas at the helm."

Mr. Shanfelter noted that, "I have worked with Jose for the last 10 years and I am excited to see him take over the business as we emerge from the turnaround and enter a phase of growth for the industry. Jose is well prepared for the opportunities that are ahead for MasTec and I look forward to working with him to create additional value for our investors."

Mr. Shanfelter continued, "It has been a very difficult, but rewarding, five years in the CEO role and we have accomplished many things. The turnaround is complete, the Company is recapitalized, margins are improving and MasTec is now focused on core businesses that show much growth potential going forward. I take great pride in what our team members have accomplished. Additionally, I am excited about my continuing role at MasTec as a consultant and director, as it will help me balance my role at MasTec and with my family."

Jose Mas added, "With the Company now well positioned with a best in class balance sheet and loyal customer base, I am excited about leading our excellent team of men and women in driving increased shareholder value. Needless to say, as one of MasTec's largest individual shareholders, my interests are parallel with all of our stakeholders."

Discussing the industry, Jose Mas continued, "We are presented with exciting opportunities ahead in communications as fiber deployments, High- definition TV, satellite and other technologies ramp up, broadband over power lines begins to deploy and as the electrical grid starts its long overdue upgrades. Additionally, new technologies and innovations will continue to drive demand for power, fixed and mobile video programming, voice and data delivery. MasTec will continue to seek out these profitable opportunities and grow with them. We are excited about the growth ahead of us and look forward to growing along with our investors."

Austin J. Shanfelter, Jose Mas and C. Robert Campbell, Executive Vice President and CFO, will be presenting at the Friedman Billings Ramsey Investor conference in New York tomorrow morning, November 28, 2006, at 8:30am and will be discussing the business and the transition. The presentation will be webcast live at http://www.wsw.com/webcast/fbr16/mtz/, or it can be accessed through a link on the investor relations page of MasTec's website at www.mastec.com. The presentation will also be available for replay on the MasTec website for an additional 30 days.

MasTec [www.mastec.com] is a leading specialty contractor operating throughout the United States and in Canada across a range of industries. The Company's core activities are the building, installation, maintenance and upgrade of communication and utility infrastructure systems.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to a number of risks, uncertainties, and assumptions, including that our revenue and earnings per share may differ from that projected, that we may be impacted by business and economic conditions affecting our customers, material changes in estimates for legal costs or case settlements, the highly competitive nature of our industry, dependence on a limited number of customers, the adequacy of our insurance and other reserves and allowances for doubtful accounts, restrictions imposed by our credit facility and senior notes, the closing of the discontinued state DOT assets and projects sale on the anticipated terms and timing, as well as other risks detailed in our filings with the Securities and Exchange Commission. Actual results may differ significantly from results expressed or implied in these statements. We do not undertake any obligation to update forward-looking statements.

First Call Analyst:
FCMN Contact: marc.lewis@mastec.com

Source: MasTec, Inc.

CONTACT: J. Marc Lewis, Vice President-Investor Relations at MasTec,
+1-305-406-1815, or fax, +1-305-406-1886, or marc.lewis@mastec.com

Web site: http://www.mastec.com/
http://www.wsw.com/webcast/fbr16/mtz

-------
Profile: intent