CORAL GABLES, Fla., Sep 03, 2004 /PRNewswire-FirstCall via Comtex/ -- MasTec, Inc. (NYSE: MTZ) today announced that Ernst & Young LLP ("E&Y") will no longer serve as MasTec's independent public accounting firm. MasTec's audit committee, which was already in the process of interviewing other accounting firms, has received and accepted E&Y's resignation.

The resignation was not the result of any disagreement between the Company and E&Y on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. Similarly, during the calendar years ended December 31, 2002 and 2003 in which E&Y served as auditor, MasTec had no unresolved issues on any accounting or auditing matters with E&Y.

The change is effective as of August 30th, 2004. However, E&Y will complete the audit opinion on our main operating subsidiary, MasTec North America, Inc. The new audit firm will begin with a review of our first and second quarter 2004 10-Qs. Upon announcement of the new audit firm, a schedule for the releases will be provided.

Austin J. Shanfelter, MasTec's President and CEO stated, "We are in the final stages of negotiation with a recognized international accounting firm. We are excited about this change and believe that the new firm will provide improved and timely service to the Company. We anticipate announcing the final selection of an accounting firm within the next 15 business days and expect to file the 10-Qs shortly thereafter."

MasTec ( http://www.mastec.com ) is a leading communications, broadband, intelligent traffic and energy infrastructure service provider. The Company designs, builds, installs, maintains, upgrades and monitors internal and external networks for leading companies and government entities.

This press release and any accompanying documents 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. The words "anticipate," "estimate," "should," "expect," "believe," "intend," "target," "project" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on MasTec's current expectations and are subject to a number of risks, uncertainties, and assumptions, including that our revenue and profits may differ from that projected, that we may be further impacted by slowdowns in our clients' businesses or in the economy in general, that our reserves for receivables may be inadequate and that we may experience increased costs associated with realigning our business or may be unsuccessful in those efforts. 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 and/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.

SOURCE MasTec, Inc.

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

http://www.prnewswire.com