MIAMI, Aug. 14 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) announced today that it has recognized a $6.5 million impairment charge ($3.9 million after tax or $0.09 loss per share) for the second quarter ended June 30, 2001 related to its equity investment in a telecommunications client. This charge became appropriate based on additional information received after our August 7, 2001 earnings release. As a result of the charge, second quarter results were a loss of $2.2 million or $0.05 loss per share. The company filed its Form 10-Q for the second quarter reflecting the impairment charge.

MasTec is a 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 forward-looking statements, such as statements regarding MasTec's future results 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, including that our revenue may differ from that projected, that we may be further impacted by slowdowns in our clients' businesses, deterioration in our client's financial condition or in the economy in general, our reserves may be inadequate or our equity investments may be impaired, and 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 or documents filed by MasTec with the Securities and Exchange Commission including our registration statement on Form S-3 (No. 333-90027). MasTec does not undertake any obligation to revise these forward-looking statements to reflect future events or circumstances.

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SOURCE MasTec, Inc.
Web site: http: //www.mastec.com
CONTACT: Carmen M. Sabater, Executive Vice President & CFO of MasTec, +1-305-406-1866, or csabater@mastec.com