MASTEC TO PURCHASE WIND ENERGY CONTRACTOR WANZEK CONSTRUCTION

publication date: Oct 21, 2008

CORAL GABLES, Fla., Oct. 6 -- MasTec Inc. has signed a purchase agreement to acquire Wanzek Construction Inc. for $200 million in cash. MasTec will also assume $15 million in Wanzek debt. With the acquisition of Wanzek, MasTec will become one of the leading wind energy contractors in the country, capable of providing end-to-end construction services to wind farm owners and developers. Wanzek, in existence for more than 37 years, also has experience in the construction of natural gas processing plants and compression stations, and other heavy/civil and industrial process construction.

Jose Mas, MasTec's president and CEO noted, "With the acquisition of Wanzek, we are expanding our expertise in the wind energy and natural gas industries. We believe that energy independence will remain a long-term national priority and with MasTec's expertise in wind farm construction, natural gas and energy transmission, we will be a leading player in that effort."

Mas added, "We were most impressed with the quality of Wanzek's management and the long tenure of its team members. We anticipate significant revenue growth over the next few years as Wanzek continues to support the expansion of wind power, an important and growing source of domestic, renewable energy."

Wanzek's president and CEO Jon Wanzek noted, "We are delighted to join the MasTec team and look forward to combining our expertise in the wind, natural gas, industrial process, power and heavy construction industries in order to further serve our mutual customers. Since 2001 we have been involved in the construction of wind farms and believe that with MasTec's
resources at our disposal, we will be able to better meet the growing demand for our unique capabilities."

From its base in Fargo, ND, Wanzek manages a team of more than 1,100 workers and tradesmen, whom it deploys throughout the country and are capable of working under extreme weather conditions. Wanzek maintains a fleet of approximately 500 pieces of heavy equipment, including a number of specialized heavy cranes, a critical component for the successful erection of wind turbine towers. Wanzek currently derives a significant portion of its revenue from wind farm construction, which includes foundation work, tower erection, the placement of turbines and rotors, site and road design and construction, and electrical design and installation.

Wanzek has completed, or is in the process of completing, work on projects representing more than 1,100 turbines and nearly 2,000 megawatts of power-generating capacity. The Wanzek acquisition will complement MasTec, which already has expertise and contracts in the construction of the electrical collection systems, substations and transmission lines necessary to connect energy from the wind farms to the energy grid.

Wanzek also has a long track record in the construction of natural gas processing plants and compression stations and in the construction of industrial process plants, including biofuel plants. Wanzek's experience in the natural gas industry will also complement MasTec's existing natural gas infrastructure expertise and will enhance MasTec's end-to-end design and construction capabilities within the natural gas industry.

Wanzek has experienced significant growth over the past several years, with revenue of $192 million in 2007, trailing 12-month revenue of $303 million as of June 30, 2008, and anticipated 2008 annual revenue exceeding $340 million. As of September, Wanzek had more than $300 million in backlog, of which approximately 80 percent related to wind energy projects.

MasTec is currently reviewing various financing options, including equity and equity-linked alternatives.