-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NKprByOq2CVkPC2qBJvF7KVsejP6JQyryAOC/D2G0lkw9bw0mtR70c1iyhaMCMXv
 8blxxrNdU2WNgyT+x6+sBQ==

<SEC-DOCUMENT>0000015615-03-000052.txt : 20031117
<SEC-HEADER>0000015615-03-000052.hdr.sgml : 20031117
<ACCEPTANCE-DATETIME>20031117133810
ACCESSION NUMBER:		0000015615-03-000052
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20031210
FILED AS OF DATE:		20031117
EFFECTIVENESS DATE:		20031117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MASTEC INC
		CENTRAL INDEX KEY:			0000015615
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER, SEWER, PIPELINE, COMM AND POWER LINE CONSTRUCTION [1623]
		IRS NUMBER:				650829355
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08106
		FILM NUMBER:		031007443

	BUSINESS ADDRESS:	
		STREET 1:		3155 N W 77TH AVE
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33122
		BUSINESS PHONE:		3055991800

	MAIL ADDRESS:	
		STREET 1:		3155 NW 77TH AVENUE
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BURNUP & SIMS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>sch14a-def.htm
<DESCRIPTION>SCHEDULE 14A-DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+ 1.2c) -->
     <!-- Project:        C:\Documents and Settings\meiras\My Documents\sch14a1003.eep     -->
     <!-- Control Number: 1                                                                -->
     <!-- Rev Number:                                                                      -->
     <!-- Client Name:                                                                     -->
     <!-- Project Name:   sch14a1103                                                       -->
     <!-- Firm Name:      Mastec, Inc.                                                     -->
     <TITLE>Schedule 14a-Definitive Proxy Statement</TITLE>
</HEAD>
<BODY>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A001></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SCHEDULE 14A </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Project" -->
<A NAME=A002></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Rule 14a-101) </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A003></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED
IN PROXY STATEMENT </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A004></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SCHEDULE 14A
INFORMATION </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Project" -->
<A NAME=A005></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proxy Statement
Pursuant to Section 14(a) of the </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Default" -->
<A NAME=A006></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Securities Exchange
Act of 1934 (Amendment No. _____) </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Filed by the Registrant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>|X|</U><BR> Filed
by a Party other than the Registrant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#143;   </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate box:  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2> &#143; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preliminary Proxy Statement<BR>&#143;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Confidential, for
Use of the Commission Only (as permitted by Rule 14a-6(e)(2))<BR> |X| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitive Proxy Statement<BR>&#143;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Definitive Additional Materials<BR>&#143;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting Material
Pursuant to Rule 14a-11(c) or Rule 14a-12 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MASTEC, INC. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Center Italic-TNR" FSL="Project" -->
<A NAME=A008></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>(Name of Registrant
as Specified in Its Charter) </I></FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<A NAME=A009></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>N/A </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Center Italic-TNR" FSL="Default" -->
<A NAME=A010></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>(Name of Person(s)
Filing Proxy Statement, if other than the Registrant) </I></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Payment of Filing Fee (check the
appropriate box):<BR> <BR><U>|X|</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No fee required<BR>&#143;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fee computed on table below per Exchange Act
Rules 14a-6(i)(1) and 0-11. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1)</FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title of each class of securities to which transaction applies:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2)</FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aggregate
number of securities to which transaction applies:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3)</FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Per unit price of other underlying value of transaction computed pursuant to Exchange Act Rule 0-11
(Set forth the amount on which the filing fee is </FONT></TD>
</TR>


<TR VALIGN=TOP>
      <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;calculated and state how it was determined)</FONT> </TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4)</FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proposed
maximum aggregate value of transaction:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5)</FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
fee paid:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#143;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fee paid previously with
preliminary materials. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#143;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;Check
box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and
identify the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the Form or Schedule and the date of
its filing:  </FONT></TD>
</TR>
</TABLE>
<BR>




<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1)  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount
Previously Paid:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2)  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form,
Schedule or Registration Statement No.:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3)  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filing
Party:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4)</FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date
Filed:  </FONT></TD>
</TR>
</TABLE>
<BR>




<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Project" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><IMG SRC="masteclogo.jpg" TITLE="MasTec, Inc. Logo" ALT="MasTec, Inc."></FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A011></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NOTICE OF SPECIAL
MEETING OF SHAREHOLDERS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Project" -->
<A NAME=A012></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>To our shareholders: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Special Meeting of Shareholders of MasTec, Inc. will be held on Wednesday, December 10,
2003, at 9:30&nbsp;a.m., local time, at our corporate headquarters located at 3155 N.W.
77<SUP>th</SUP> Avenue, Miami, Florida 33122-1205. At the Special Meeting, shareholders
will be asked to vote on the following proposals: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>    1.  </FONT></TD>
<TD ALIGN=LEFT WIDTH=97%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
approval of the MasTec, Inc. Amended and Restated 2003 Stock Incentive Plan for
Non-Employees; and </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>    2.  </FONT></TD>
<TD ALIGN=LEFT WIDTH=97%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Such
other business as may properly be brought before the Special  Meeting,  and at any
adjournments or postponements of the Special Meeting. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
proposals are discussed more fully in the Proxy Statement accompanying this notice.
Shareholders of record at the close of business on November 5, 2003 are entitled to notice
of and to vote at the Special Meeting and at any adjournments or postponements of the
Special Meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
shareholders are cordially invited to attend the Special Meeting in person. However, to
ensure that your stock is represented at the meeting in case you are not personally
present, you are requested to mark, sign, date and return the enclosed proxy card as
promptly as possible in the envelope provided. Return of the proxy card will not prevent
you from voting in person at the meeting should you decide to do so. As an alternative,
all shareholders are encouraged to vote by telephone or online and enroll for electronic
delivery of future proxy and other materials. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Please go to <U>www.mastec.com</U>
under Investor Relations or follow the instructions accompanying your proxy card for more
information and enrollment. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Default" -->
<A NAME=A013></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By Order of the Board of
Directors, </FONT></P>


<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Austin J. Shanfelter</U> <BR>Austin J.
Shanfelter, President and Chief Executive Officer<BR> Miami, Florida </FONT></P>




<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Project" -->
<A NAME=A014></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>November 17, 2003 </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We urge each shareholder to
promptly sign and return the enclosed proxy card or to use telephone or Internet voting as
described in the proxy statement.</B> </FONT></P>




<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 2; page: 2" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Project" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><IMG SRC="masteclogo.jpg" TITLE="MasTec, Inc. Logo" ALT="MasTec, Inc."></FONT></P>


<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<A NAME=A015></A>
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>November 17, 2003 </FONT></P>
<BR>
<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A016></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROXY STATEMENT </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A017></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SPECIAL MEETING OF
SHAREHOLDERS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A018></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TO BE HELD DECEMBER
10, 2003 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors of MasTec, Inc. is furnishing this Proxy Statement to solicit proxies
on its behalf to be voted at the Special Meeting of Shareholders of MasTec to be held at
our corporate headquarters located at 3155 N.W. 77th Avenue, Miami, Florida 33122-1205, on
Wednesday, December 10, 2003, at 9:30 a.m. local time. At the Special Meeting, our
shareholders will be asked to vote on one proposal (the &#147;Proposal&#148;), which is described in greater detail
in this Proxy Statement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Proxy Statement and accompanying proxy are first being mailed or transmitted
electronically on or about November 17, 2003 to shareholders of record at the close of
business on November 5, 2003. All properly executed written proxies and all properly
completed proxies submitted by telephone or via the internet will be voted at the Special
Meeting in accordance with the directions given in the proxy, unless the proxy is revoked
before the meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Only
holders of record of shares of common stock at the close of business on November 5, 2003
are entitled to notice of and to vote at the Special Meeting or any adjournment or
postponement of the meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A019></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>VOTING </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A020></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>General </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
securities that can be voted at the Special Meeting consist of our common stock, with each
share entitling its owner to one vote on all matters brought before the Special Meeting.
Only shareholders of record at the close of business on November 5, 2003 are entitled to
vote at the Special Meeting. On the record date, 48,154,625 shares of common stock were
outstanding and eligible to be voted at the Special Meeting, and there were 2,161 record
shareholders. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A021></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proxies </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you are not present in person at the Special Meeting, your shares can be voted only if
represented by proxy or if you vote telephonically or online. The shares represented by
your proxy will be voted in accordance with your instructions only if you properly
complete, sign and return the accompanying proxy card to our Secretary prior to the
Special Meeting or vote your ballot telephonically or online. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
may be eligible to vote electronically through the Internet or by telephone. Please go to
<U>www.mastec.com</U> under Investor Relations or follow the instructions accompanying
your proxy card for more information on voting by telephone or online and registering to
receive future proxy and other materials online. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
not wishing to vote telephonically or electronically through the Internet or whose proxy
card does not reference telephone or online voting information should complete and return
the enclosed paper proxy card. Signing and returning the proxy card or submitting the
proxy via telephone or online does not affect the right to vote in person at the Special
Meeting. If no choice is specified on a returned proxy card, the shares represented by the
proxy will be voted in favor of approval of the MasTec Amended and Restated 2003 Stock
Incentive Plan for Non-Employees (the &#147;Amended and Restated Non-Employee Plan&#148;),
and in the discretion of the holder of the proxy on all other matters that may properly
come before the Special Meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A022></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Quorum and Vote Required </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
presence, in person or by proxy, of a majority of the shares of common stock entitled to
vote is necessary to constitute a quorum at the Special Meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a quorum is present, you may vote in favor of or against the Proposal or you may
abstain from voting. The vote required to approve the Proposal is governed by Florida law, and is the affirmative vote of the holders of a majority of the shares of common stock
represented and entitled to vote at the Special Meeting.  As a result, abstentions will be
considered in determining whether a quorum is present and the number of votes required to
obtain the necessary majority vote and therefore, will have the same legal effect as
voting against each proposal. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of November 5, 2003 (the record date for the Special Meeting), our directors and executive
officers beneficially owned or controlled approximately 24,634,157 shares of our common
stock ( 2,674,492 of which are shares beneficially owned through options exercisable
within 60 days), constituting approximately 51% of the outstanding common stock. We
believe that these holders will vote their shares of common stock in favor of the Amended
and Restated Non-Employee Plan. Therefore, the presence of a quorum and the approval of
the Amended and Restated Non-Employee Plan are reasonably assured. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A023></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Revoking Your Proxy </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
proxy given pursuant to this solicitation may be revoked at any time prior to its exercise
(1) by written notice delivered to our Secretary at 3155 N.W. 77<SUP>th</SUP> Avenue,
Miami, Florida 33122-1205, (2) by executing and delivering to our Secretary a proxy with a
later date, (3) by attending the Special Meeting and voting in person or (4)&nbsp;by
submitting a telephonic or electronic vote with a later date. With respect to telephonic
or electronic votes, the last vote transmitted will be the vote counted. Attendance at the
Special Meeting will not, in itself, constitute revocation of a proxy. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you hold shares of our common stock in street name and wish to vote in person at the
meeting, you must present a recent proxy validating your ownership of the shares of common
stock intended to be voted from your bank, broker or other nominee that holds of record
your shares of common stock and proof of identity for entrance to the meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A024></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Costs of this Proxy </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to soliciting proxies through the mail, we may solicit proxies through our
directors, officers and employees in person and by telephone or facsimile. No additional
compensation will be paid to such directors, officers or employees for proxy solicitation.
Brokerage firms, nominees, custodians and fiduciaries also may be requested to forward
proxy materials to the beneficial owners of shares held of record by them. All expenses
incurred in connection with the solicitation of proxies for the Special Meeting will be borne by MasTec. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A025></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Voting by Participants
in the MasTec 401(k) Retirement Plan </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separate
proxy cards are being transmitted to all persons who have shares of our common stock
allocated to their accounts as participants or beneficiaries under the MasTec, Inc. 401(k)
Retirement Plan (the &#147;401(k) Plan&#148;). These proxy cards appoint MassMutual Financial Group, who acts as Trustee for the 401(k) Plan, to vote the shares held for the
accounts of the participants or their beneficiaries in the 401(k) Plan in accordance with
the instructions noted thereon. <B>In the event no proxy card is received from a
participant or beneficiary or a proxy card is received without instructions, or in the
event shares are not yet allocated to any participant&#146;s account, the Trustee will
vote the shares of stock of the participant and any unallocated shares &#147;FOR&#148;
the Proposal.  </B>The Trustee does not know of any other business to
be brought before the Special Meeting but it is intended that, if any other matters
properly come before the Special Meeting, the Trustee as proxy will vote upon such matters
according to its judgment. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
401(k) Plan participant or beneficiary who executes and delivers a proxy card to the
Plan Tabular may revoke it at any time prior to its use by executing and delivering to the
Plan Tabular a duly executed proxy card bearing a later date or by giving written notice to the
Plan Tabular at the following address: ADP Investor Communication Services, Attention: Tabulation Department, 51 Mercedes Way, Edgewood, NY 11717. Under the terms of the
401(k) Plan, only the Trustee of the 401(k) Plan can vote the shares allocated to the
accounts of participants, even if such participants or their beneficiaries attend the
Special Meeting in person. </FONT></P>
<BR>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A026></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROPOSAL 1 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A027></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPROVAL OF THE
MASTEC, INC. <BR>AMENDED AND RESTATED 2003<BR>STOCK INCENTIVE PLAN FOR
NON-EMPLOYEES </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A030></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROPOSAL </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec&#146;s
Board of Directors has adopted the Amended and Restated Non-Employee Plan, subject to the
approval of the MasTec shareholders. If approved, the amendment would amend, restate and
supercede the MasTec, Inc., 2003 Stock Incentive Plan for Non-Employees (&#147;2003
Non-Employee Plan&#148;) that was approved by the MasTec shareholders on May 30, 2003. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SUMMARY OF PROPOSED
AMENDMENTS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
principal amendments to be effected by the Amended and Restated Non-Employee Plan (all of
which are discussed in more detail under the heading "Summary of Amended and Restated
Non-Employee Plan" below) are as follows: </FONT></P>


<!-- MARKER FORMAT-SHEET="Para (List) Hang LV 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH="90%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Restricted
Stock Awards</U>.  In addition to providing awards of non-statutory stock options, the
Amended and Restated Non-Employee Plan permits the Compensation Committee of the MasTec
Board of Directors, in its discretion, to grant awards of restricted stock. </FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para (List) Hang LV 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH="90%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Discretionary
Options for Directors</U>.  The Amended and Restated Non-Employee Plan permits the
discretionary granting by the Compensation Committee of stock options to non-employee
directors, in addition to the automatic grants provided by formula pursuant to the 2003
Non-Employee Plan.  The 2003 Non-Employee Plan only contemplates discretionary stock
option grants to non-employee advisors. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang LV 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH="90%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Limitation
on Aggregate Number of Shares Issuable under the Plan</U>.  The Amended and Restated
Non-Employee Plan imposes a limit on the aggregate number of shares which may be issued
pursuant to options or restricted stock granted under the plan of 2,500,000 shares
(subject to adjustment in the event of stock splits, stock dividends, combinations,
recapitalizations, reorganizations, or similar events).  The 2003 Non-Employee Plan had
no such limit.   </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Hang LV 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH="90%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Other
Amendments</U>.  The Amended and Restated Non-Employee Plan also (1) grants the Compensation
Committee express authority to amend outstanding options or restricted stock awards,
including accelerating the vesting schedule upon a termination of services, and (2)
provides for an additional exception to the general prohibition on transfers of options
granted under the plan to permit transfers of options to such persons as the Compensation
Committee may deem appropriate. </FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A031></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>RECOMMENDATION </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors believes that stock based awards can play an important role in the
success of MasTec by encouraging and enabling the non-employee directors and advisors of
MasTec, upon whose judgment, initiative and effort MasTec largely depends for the
successful conduct of its business, to acquire a proprietary interest in MasTec.
MasTec&#146;s Board of Directors anticipates that providing such persons with a direct
stake in MasTec&#146;s welfare will assure a closer identification of the interests of
participants in the Amended and Restated Non-Employee Plan with those of MasTec, thereby
stimulating their efforts in MasTec&#146;s behalf and strengthening their desire to
continue to provide services to MasTec. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec&#146;s
Board of Directors believes that the Amended and Restated Non-Employee Plan will help
MasTec to achieve its goals by keeping MasTec&#146;s incentive compensation program
dynamic and competitive with those of other companies, and by providing greater flexibility in designing such incentives through the proposed use of discretionary options and restricted stock issuances.  The dilutive
effect of such incentives is limited by the newly imposed aggregate share limitation.  Accordingly, MasTec&#146;s Board of
Directors believes that the Amended and Restated Non-Employee Plan is in the best interest
of MasTec and its shareholders. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The
Board of Directors unanimously recommends that shareholders vote &#147;FOR&#148; the
proposal to approve the amendment and restatement of the MasTec, Inc. 2003 Non-Employee
Plan. </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A032></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SUMMARY OF THE AMENDED
AND RESTATED NON-EMPLOYEE PLAN </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following description of the Amended and Restated Non-Employee Plan is qualified in its
entirety by reference to the applicable provisions of the Amended and Restated
Non-Employee Plan and agreements related to the Amended and Restated Non-Employee Plan. A
copy of the Amended and Restated Non-Employee Plan may be accessed through our website at
<U>www.mastec.com</U> under Investor Relations. Additionally, MasTec will promptly deliver
a paper copy of the Amended and Restated Non-Employee Plan to a shareholder upon receiving
a written or oral request. Any such shareholder who wishes to receive a separate paper
copy of the Amended and Restated Non-Employee Plan should contact MasTec Investor
Relations by telephone at 1-305-599-1800 or by mail to: MasTec Investor Relations, 3155 NW
77<SUP>th</SUP> Avenue, Miami, Florida 33122-1205. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A033></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Administration. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Amended and Restated Non-Employee Plan is administered by MasTec&#146;s Compensation
Committee, which is appointed by MasTec&#146;s Board of Directors. The members of the
Committee must be &#147;non-employee directors&#148; for purposes of Rule 16b-3 of the
Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). Among other
powers and duties, the Compensation Committee establishes rules and regulations for the
Amended and Restated Non-Employee Plan; interprets plan provisions; determines the number
of shares and the exercise price of options granted; determines the time when options or
awards will be granted and exercisable; and prescribes other forms and agreements related
to the options or awards under the Amended and Restated Non-Employee Plan. Pursuant to one of
the amendments effected by the Amended and Restated Non-Employee Plan, the
Committee specifically has the power, with the consent of the person entitled to exercise an
outstanding option, to amend the option in any manner consistent with the provisions of
the Amended and Restated Non-Employee Plan that it may deem advisable, including
accelerating the vesting schedule upon a participant&#146;s termination of service,
whether as a director or advisor, to MasTec. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Types of Awards. </FONT></H1>



<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Amended and Restated Non-Employee Plan provides for formula and discretionary grants of
non-qualified stock options and restricted stock awards.  (See &#147;Terms of Options&#148; and &#147;Awards
of Restricted Stock&#148; below.)  The 2003 Non-Employee Plan does not provide for
discretionary option grants to non-employee directors or for restricted stock awards. </FONT></P>




<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock Subject to the Plan. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
shares to be issued under the Amended and Restated Non-Employee Plan are shares of MasTec&#146;s
common stock, $0.10 par value per share.  On November 5, 2003, the closing price of
MasTec&#146;s common stock reported on the New York Stock Exchange was $12.93 per share. The
MasTec 2003 Non-Employee Plan provided for the issuance of up to 1,000,000 shares of
MasTec&#146;s common stock as an initial authorization, and each December 31, beginning
December 31, 2003, the authorized shares would automatically be increased by the number
of shares subject to grants made during the calendar year ending on such December 31.  As
with the 2003 Non-Employee Plan, the Amended and Restated Non-Employee Plan provides for
an initial authorization of 1,000,000 shares of common stock with an automatic increase
as of each December 31 (beginning December 31, 2003), based on the number of shares
subject to grants made during the calendar year ending on such December 31, subject to
the maximum number of shares.  In the event that any awards under the Amended and
Restated Non-Employee Plan do not vest or are forfeited, terminated, surrendered or
canceled without being exercised or settled, common stock covered by such award, or
portion thereof, will again become available for issuance under the Amended and Restated
Non-Employee Plan, but would reduce the number of shares of the automatic increase for
that year.  Subject to adjustment for stock splits, stock dividends, recapitalizations,
reorganizations, exchange of shares or other changes in the corporate structure or shares
of stock, the aggregate number of shares of MasTec common stock that can be issued under
the Amended and Restated Non-Employee Plan is 2,500,000 shares.  The 2003 Non-Employee
Plan had no such limit. </FONT></P>




<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A034></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Eligibility for Awards. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
consideration of their services, any &#147;advisor&#148; (an individual who serves as an
advisor or consultant to MasTec or a member of our controlled group of companies under a
relationship other than that of common law employee), and any member of MasTec&#146;s Board of
Directors who is not and never has been either an officer or common law employee of
MasTec, or a member of MasTec&#146;s controlled group, is eligible to receive awards under
the Amended and Restated Non-Employee Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of November 12 , 2003, there were seven non-employee directors and one non-employee advisor eligible to
receive grants under the Amended and Restated Non-Employee Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A035></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Options Granted. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of November 5, 2003, the Compensation Committee has granted options to purchase 105,000 shares and has not granted any restricted stock awards under the Amended
and Restated Non-Employee Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A036></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Terms of Options. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options
are granted under the Amended and Restated Non-Employee Plan on terms and conditions
determined by the Compensation Committee, subject to the provisions described below: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Formula
Grants</I>. Under the Amended and Restated Non-Employee Plan, as with the original plan,
there are provisions for automatic option grants to non-employee directors according to a
formula under the plan. Under the formula, as of the first business day of the month
following the initial election of the non-employee director and each re-election term of
the non-employee director, such non-employee director will automatically receive an option
to purchase 20,000 shares. As of the first business day following the annual shareholders
meeting in any year in which a non-employee director does not receive a grant due to an
election or re-election, such director will automatically receive an option to purchase
7,500 shares.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Discretionary
Grants</I>. The Compensation Committee has discretion to grant additional options to
non-employee directors and options to advisors under the Amended and Restated Non-Employee
Plan from time to time. Such discretionary grants were not available to non-employee
directors under the terms of the 2003 Non-Employee Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Option
Price</I>. Unless otherwise determined by the Compensation Committee, the exercise price
of each option granted under the Amended and Restated Non-Employee Plan is 100% of the
fair market value of a share of the common stock on the day of the grant. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Vesting</I>.&nbsp;Formula
option grants for non-employee directors will become exercisable with           respect
to 33% of the options granted on each of the first two anniversaries of           the
date of grant, and with respect to the remainder of the options granted, on           the
third anniversary of the date of grant. Formula grants become fully           exercisable
upon a change of control as defined in the Amended and Restated           Non-Employee
Plan. Discretionary grants to advisors and non-employee directors           will become
exercisable with respect to 33% of the options granted on each           of the first
two anniversaries of the date of grant, and with respect to           remainder of the
options granted on the third anniversary of the date of grant,           and become fully
exercisable upon a change of control as defined in the Amended           and Restated
Non-Employee Plan. Under the Amended and Restated
Non-Employee Plan, the Compensation Committee has specifically           reserved the
right to accelerate vesting in connection with a grant to any           non-employee
director or advisor upon a termination of the participant&#146;s           services to
MasTec. The Compensation Committee did not have this express authority under the 2003 Non-Employee Plan.</FONT></P>



<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Term
of Option</I>. Unless otherwise specified by the Compensation Committee, the term of any
option is ten years from the date of grant. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Termination
of Service</I>. Under the Amended and Restated Non-Employee Plan, the Compensation
Committee reserves the right to accelerate vesting upon a termination of service. Unless
otherwise specified by the Compensation Committee, following a termination of service for
any reason, all unexercisable options will immediately terminate, and exercisable options
will remain exercisable (not beyond the option&#146;s expiration date) for one year. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exercise
of Options</I>. Payment of the exercise price may be made in cash, by tendering previously
acquired shares of MasTec&#146;s stock that has been held for six months, by a combination
of cash and surrender of shares, or any other method approved by the Compensation
Committee. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A037></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Awards of Restricted
Stock. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
2003 Non-Employee Plan did not provide for awards of restricted stock. Under the Amended
and Restated Non-Employee Plan, awards of restricted stock are granted on terms and
conditions determined by the Compensation Committee, subject to the provisions described
below: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Grants</I>.&nbsp;The
Amended and Restated Non-Employee Plan would permit grants of restricted           stock,
which is a grant of MasTec&#146;s common stock, subject to restrictions
          described below.  </FONT></P>



<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Restrictions
and Vesting</I>. Unless the Compensation Committee specifies otherwise, restricted stock
awards vest and become non-forfeitable with respect to 100% of the shares subject to the award on the third
anniversary of grant, if the recipient is a non-employee director or advisor on that date.
The Compensation Committee is permitted to impose any other conditions, restrictions,
forfeitures and contingencies on awards of restricted stock. In addition, vesting and
lapse of restrictions may be accelerated by the Compensation Committee at any time. Unless
otherwise determined by the Compensation Committee, upon the recipient&#146;s death,
disability, or change of control as specified by the Amended and Restated
Non&#150;Employee Plan, outstanding restricted stock awards that are subject only to a
time-based vesting schedule, become fully vested and non-forfeitable. If an outstanding
award of restricted stock remains subject to any other type of vesting schedule or
requirement (<U>e.g</U>., a criteria based schedule), then such award shall become vested
in a proportionate amount upon the occurrence of a death, disability, or change of control
as defined in the Amended and Restated Non-Employee Plan. The proportionate amount shall
be calculated as the ratio of the amount of time completed from the date of the applicable
event compared to the original term of the restricted stock agreement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Rights
of the Shareholder</I>. The recipient of a restricted stock award will have the rights of
a shareholder with respect to the shares of restricted stock held in his or her name upon the granting of the award,
including the right to vote the shares and to receive dividends. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Termination
of Services. </I>Except as otherwise determined by the Compensation Committee, if a
non-employee director or advisor no longer provides services to MasTec, unvested
restricted stock will be forfeited. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A038></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fair Market Value. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
fair market value of the common stock under the Amended and Restated Non-Employee Plan is
generally the last sale price of shares of MasTec&#146;s common stock quoted at the
close of trading on the relevant date on the New York Stock Exchange. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A039></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Reorganization. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
MasTec is part of any reorganization involving a merger, consolidation, acquisition of
MasTec or acquisition of MasTec assets, the Compensation Committee, in its discretion, may
decide that (i) outstanding awards apply to the securities of the resulting
corporation; (ii) outstanding options become immediately fully exercisable; (iii)
outstanding options become fully exercisable and terminate upon 30 days&#146; notice;
and/or (iv) restricted stock awards become immediately fully vested and non-forfeitable. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A040></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amendment and
Termination. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec&#146;s
Board of Directors may amend, modify or terminate the Amended and Restated Non-Employee
Plan at any time. No amendment, modification or termination shall result in the Amended
and Restated Non-Employee Plan being subject to variable or other adverse accounting
treatment and or adversely affect, in any way, the rights of recipients of outstanding
awards without their consent unless the amendment or termination is necessary to comply
with applicable law. Unless terminated sooner, the Amended and Restated Non-Employee Plan
automatically terminates on the tenth anniversary of its original effective date. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A041></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Adjustments. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>
</I>In the event MasTec is involved in a corporate transaction or any other event which
affects MasTec&#146;s common stock such as a recapitalization, reclassification, stock
split, stock dividends, extraordinary cash dividends, split-up, spin-off, combination or
exchange of shares, the Compensation Committee will adjust the number and kinds of shares
available for issuance under the Amended and Restated Non-Employee Plan, the number and
kind of shares subject to outstanding options or awards, the exercise price of outstanding
stock options, or any other equitable adjustment. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A042></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Transferability. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>
</I>Unless the Compensation Committee specifies otherwise, options and restricted stock
awards are not transferable except by the laws of descent and distribution. Under the
Amended and Restated Non-Employee Plan, options and awards of restricted stock may, with
the approval of the Compensation Committee and in its sole discretion, be transferred to
such persons as said committee deems appropriate. The 2003 Non-Employee Plan did not contain this express exception to the
general prohibition on transfers of options.</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A043></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Federal Income Tax
Consequences. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following is a brief general description of the consequences under the Internal Revenue
Code of the receipt or exercise of options or the grant of a restricted stock award under
the Amended and Restated Non-Employee Plan: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Non-Qualified
Stock Options. </I>Neither MasTec nor the option holder has income tax consequences from
the issuance of non-qualified stock options. Generally, upon the exercise of non-qualified
stock options, the option holder recognizes ordinary income in the amount that the fair
market value of the shares at the time of exercise exceeds the option price for such
shares. The holders&#146; tax basis in the shares is the fair market value on the date of
exercise. MasTec will generally have a deduction in the same amount as the ordinary income
recognized by the option holder in MasTec&#146;s tax year in which the option
holder&#146;s tax year (of exercise) ends. Upon the sale of shares acquired upon exercise,
the option holder will have a capital gain (or loss) equal to the difference between the
tax basis and the sale price calculated at the applicable capital gains rates. Certain
additional rules apply if the exercise price is paid in shares of MasTec&#146;s common
stock held by the optionee. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Restricted
Stock Awards. </I>The holder of restricted stock will recognize income upon receipt of the
award, but generally only to the extent that the stock is not subject to a substantial
risk of forfeiture. If the restricted stock is subject to restrictions that lapse in
increments over a period of time, so that the holder becomes vested in a portion of the
shares as the restrictions lapse, the holder will recognize income in any tax year only
with respect to the shares that become non-forfeitable during that year. The income
recognized will be equal to the fair market value of those shares, determined as of the
time that the restrictions on those shares lapse. That income generally will be taxable at
ordinary income tax rates. Any dividends paid in connection with restricted stock will be
taxed at ordinary income tax rate. MasTec generally will be entitled to a deduction in an
amount equal to the amount of ordinary income recognized by the holder of the restricted
stock shares. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
holder of restricted stock shares may elect instead to recognize ordinary income for the
taxable year in which the holder receives the award in an amount equal to the fair market
value of all shares of restricted stock awarded to him or her, even if the shares are
subject to forfeiture. That income will be taxable at ordinary income tax rates. At the
time of the disposition of the shares, a holder who has made such an election may
recognize gain in the amount equal to the difference between the sale price and the fair
market value of the shares at the time of the award. This gain will be taxable at the
applicable capital gains rate. Any such election must be made within 30 days after the
transfer of the restricted stock to the holder. MasTec will generally be entitled to a
deduction in an amount equal to the amount of ordinary income recognized by the holder at
the time of his or her election. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing discussion is not a complete discussion of all federal income tax aspects of the
Amended and Restated Non-Employee Plan. Some of the provisions contained in the Internal
Revenue Code have only been summarized, and additional qualifications and refinements may
be contained in regulations that will be issued in the future by the Internal Revenue
Service. Furthermore, subsequent legislative changes or changes in administrative or
judicial interpretation could alter significantly the tax treatment discussed herein. No
discussion of state income tax law has been included. Each individual participating in the
Amended and Restated Non-Employee Plan should consult his or her tax advisors with respect
to the tax consequences of such participation and the disposition of shares acquired under
the provisions of the plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A044></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ERISA. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Amended and Restated Non-Employee Plan is not, and is not intended to be, an employee
benefit plan or a qualified retirement plan. As such, the plan is not, therefore, subject
to the Employee Retirement Income Security Act of 1974 as amended, or section 401(a) of
the Internal Revenue Code. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A045></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITY OWNERSHIP </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A046></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Directors and Executive
Officers </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth the beneficial ownership as of November 5, 2003 of common stock
by (i) each director of MasTec and each Named Executive Officer (as defined under the
caption Executive Compensation below), and (ii) all executive officers and directors of
MasTec as a group. Unless otherwise indicated, each named shareholder has sole voting and
investment power with respect to the shares beneficially owned by the shareholder. </FONT></P>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2> &nbsp; </FONT></TH>
     <TH COLSPAN=4><FONT FACE="Times New Roman" SIZE=2>Common Stock Beneficially Owned</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE="2"><U>Name</U> </FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Number<BR>
of Shares</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Percent of<BR>
Common Stock<BR>
Outstanding</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=65% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jorge Mas</FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=14% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>21,364,788</FONT></TD>
        <TD WIDTH=10% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(1)</FONT></TD>
     <TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>44.37</FONT></TD>
     <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Chairman of the Board</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose R. Mas</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>1,480,772</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(2)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3.08</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Vice Chairman of the Board and Executive Vice President</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Julia L. Johnson</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>15,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Joseph P. Kennedy II</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>132,500</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Arthur B. Laffer</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>460,153</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>William N. Shiebler</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>162,758</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose S. Sorzano</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>119,503</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>John Van Heuvelen</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>15,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Austin J. Shanfelter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>695,072</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 1.4 </FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director, President and Chief Executive Officer</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Donald P. Weinstein</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>20,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President and Chief Financial Officer</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Eric J. Tveter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>34,643</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President and Chief Operations Officer</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose M. Sariego</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>148,968</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Former Senior Vice President and General Counsel</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>All executive officers and</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>24,634,157</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>51.16</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>directors as a group (12 persons)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*Represents less than one half of one
percent of the outstanding shares of MasTec common stock. </FONT></P>


<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH="90%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Includes
11,273,716 shares owned directly by the Jorge L. Mas Canosa Holdings I Limited
Partnership, a Texas limited partnership (the &#147;Family Partnership&#148;), and
indirectly by Jorge Mas, as the president and sole director of Jorge L. Mas Canosa
Holdings Corporation, a Texas corporation, the sole general partner of the Family
Partnership; and 8,380,966 shares owned of record by Jorge Mas Holdings I Limited
Partnership, a Texas limited partnership (&#147;Jorge Mas Holdings&#148;). The sole
general partner of Jorge Mas Holdings is Jorge Mas Holdings Corporation, a Texas
corporation that is wholly-owned by Mr. Jorge Mas. Also includes 282,670 shares owned of
record by the Mas Family Foundation, Inc., a Florida not-for-profit corporation (the
&#147;Family Foundation&#148;) of which Mr. Jorge Mas is the president; 1,084,291 shares
covered by options exercisable within 60 days of November 5, 2003; and 343,145 shares owned
of record individually. Mr. Jorge Mas disclaims beneficial ownership of the shares held
by the Family Partnership except to the extent of his pecuniary interest therein, and
disclaims beneficial ownership of all of the shares owned by the Family Foundation. The
business mailing address for Mr. Jorge Mas is c/o MasTec, Inc., 3155 N.W. 77th Avenue,
Miami, Florida 33122-1205. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH="90%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Includes
1,114,251 shares owned of record by Jose Ramon Mas Holdings I Limited Partnership, a
Texas limited partnership (&#147;Jose Mas Holdings&#148;). The sole general partner of
Jose Mas Holdings is Jose Ramon Mas Holdings Corporation, a Texas corporation that is
wholly owned by Mr. Jose Mas. Also includes 138,096 shares covered by options exercisable
within 60 days of November 5, 2003; and 186,758 shares owned of record
individually. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
<TD WIDTH="90%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Includes
shares of common stock that may be issued upon the exercise of stock options that are
exercisable within 60 days of November 5, 2003 as follows: Julia L. Johnson, 15,000;
Joseph P. Kennedy II, 132,500 shares; Arthur B. Laffer, 270,000 shares; William N.
Shiebler, 142,500 shares; Jose S. Sorzano, 117,250 shares; John Van Heuvelen, 15,000 shares; Austin J. Shanfelter, 553,379
shares; Donald P. Weinstein 10,000 shares; and Jose M. Sariego, 129,809 shares. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A048></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Certain Principal
Shareholders </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of November 5, 2003, in addition to information provided for directors and executive
officers, MasTec was aware of the following shareholder which owned beneficially more than
5% of MasTec&#146;s common stock: </FONT></P>







<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=4><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock Beneficially <BR>Owned</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Name</FONT><HR WIDTH=10% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Number<BR>
of Shares</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Percent of<BR>
Common Stock<BR>
Outstanding</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH="64%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Mellon Financial Corporation (1)</FONT></TD>
     <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=17% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3,958,622</FONT></TD>
        <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=7% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8.22</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>%</FONT></TD></TR>
</TABLE>
<BR>
<BR>


<!-- MARKER FORMAT-SHEET="Para Hang Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH="85%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Mellon
Financial Corporation and certain of its direct and indirect subsidiaries (&#147;Mellon&#148;)
filed a Schedule 13G/A dated January 15, 2003 with the Securities and Exchange Commission
reporting beneficial ownership of more than 5% of MasTec&#146;s common stock. As reported
in the Schedule 13G/A, Mellon possesses sole voting power with respect to 2,791,632
shares and possesses shared voting power with respect to 501,400 shares. As reported in
the Schedule 13G/A, Mellon possesses sole dispositive power with respect to 3,957,191 and
shared dispositive power with respect to 1,431 shares. Mellon&#146;s address is One
Mellon Center, 500 Grant Street, Pittsburgh, Pennsylvania 15258-0001. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> ELECTION OF NEW DIRECTOR </FONT></H1>






<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
as of November 12, 2003, MasTec&#146;s Board of Directors voted to increase the number of
directors comprising the Board from nine to ten by adding a fourth Class III director,
and to elect Sherrill W. Hudson as a Class III director to fill the vacancy so created.
 The terms of the Class III directors expire at the annual meeting of shareholders in
2004. </FONT></P>



<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.
Hudson qualifies as an &#147;audit committee financial expert&#148; under Securities and Exchange
Commission regulations.  He retired from Deloitte & Touche, LLP in August 2002, after 37
years, including the last 19 in Miami as managing partner for South Florida,
including oversight responsibility for Deloitte's Florida and Puerto Rico offices for
most of that time.  Active in number of charitable and civic activities, Mr. Hudson&#146;s
past and present activities include past chair and executive committee of the Florida
International University Foundation; the executive committee of the Miami Business Forum;
past president and board member of the Orange Bowl Committee and Zoological Society of
Florida; past chair of the Greater Miami Chamber of Commerce, American Cancer Society,
Dade Community Foundation and Jackson Memorial Foundation; co-chair of the Dade County
United Way Campaign (1996) and vice chairman of Goodwill Industries.  Mr. Hudson also
serves as a member of the board of directors of TECO Energy, Inc., Publix Super Markets,
Inc. Standard Register Company, and SportsLine.com, Inc.  Mr. Hudson is 60 years old. </FONT></P>





<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A049></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>COMPENSATION OF DIRECTORS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the last five years, MasTec has not paid its directors an annual cash retainer or other
fees for serving as a director or attending meetings, however, MasTec may consider paying
such retainers and fees in the future. Directors are reimbursed for their reasonable
expenses in attending Board and committee meetings. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
MasTec&#146;s 1994 Stock Option Plan for Non-Employee Directors, our non-employee
directors were eligible to receive options to purchase shares of common stock. The
Compensation Committee set the amount, exercise price and term of the options granted
under this plan. The following directors received options to purchase common stock in the
amounts indicated when elected to the Board in 2002: Julia L. Johnson, 45,000 and John Van
Heuvelen, 45,000. All options expire ten years from the date of grant and vest annually
over three years. All options were granted at an exercise price equal to the fair market
value of MasTec&#146;s common stock based on the mean between the high and low sale prices
of our common stock on the New York Stock Exchange on the date of grant. </FONT></P>


<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-employee
directors are also eligible to receive options to purchase shares of common stock under
the MasTec, Inc. 2003 Stock Incentive Plan for Non-Employees.  When the 2003 Non-Employee
Plan took effect on June 1, 2003, the non-employee directors that were elected or
re-elected at the 2003 Annual Meeting each received an option to purchase 20,000 shares,
and all other non-employee directors received an option to purchase 7,500 shares on the
first business day following the 2003 Annual Meeting.  </FONT></P>



<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
as of August 27, 2002, MasTec and Jorge Mas entered into a split dollar agreement wherein
MasTec agreed to pay the premiums due on two life insurance policies with an aggregate
face amount of $50,000,000. Mr. Mas and his spouse are the insureds under the policies.
Under the terms of this agreement, MasTec is the sole owner and beneficiary of the
policies and is entitled to recover all premiums it pays on the policies plus interest
equal to four percent, compounded annually, upon the death of the insureds. The remainder
of the policies&#146; proceeds will be paid in accordance with Mr. Mas&#146; designations.
MasTec will make the premium payments until the agreement is terminated, which occurs upon
any of the following events: (i) total cessation of MasTec&#146;s business, (ii)
bankruptcy, receivership or dissolution of MasTec, or (iii) a change of control of MasTec. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally,
effective as of September 13, 2002, MasTec and Jorge Mas entered into a second split
dollar agreement (as amended on December 1, 2002) wherein MasTec agreed to pay the
premiums due on a life insurance policy with a face amount of $80,000,000, $60,000,000 of
which is subject to the agreement and the remaining $20,000,000 is deemed to be key-man
insurance payable to MasTec and falls outside of the agreement. Jorge Mas is the insured
under this policy. Under the terms of this agreement, MasTec is the sole owner and
beneficiary of the policy and is entitled to recover all premiums it pays on the portion
of the policy subject to the agreement, plus interest equal to four percent, compounded
annually, upon the death of the insured. MasTec will make the premium payments until the
agreement is terminated, which occurs upon any of the following events: (i) total
cessation of MasTec&#146;s business, (ii) bankruptcy, receivership or dissolution of
MasTec, or (iii) a change of control of MasTec. An amount equal to $60,000,000 of the
policy&#146;s proceeds will be paid in accordance with Jorge Mas&#146;s designations. Any
remainder of the proceeds will be paid to MasTec. In 2002, MasTec paid $1,340,400 in
premiums in connection with the split dollar agreements for Jorge Mas. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A050></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXECUTIVE COMPENSATION </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A051></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Summary Compensation
Table </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table summarizes all compensation paid to our Chief Executive Officer and the
four other most highly compensated executive officers of MasTec whose total salary and
bonus exceeded $100,000 (together, the &#147;Named Executive Officers&#148;) for services
rendered in all capacities to MasTec and its subsidiaries for the years ended December 31,
2002, 2001 and 2000. </FONT></P>











<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="600">
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=6><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Annual Compensation</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=4><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Long Term Compensation</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Name and<BR>
Principal Position</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Year</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Salary ($)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Bonus ($)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Securities<BR>
Underlying Options(4)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>All Other<BR>
Compensation($)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH="37%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Austin J. Shanfelter</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="4%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2002</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="8%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>601,925</FONT></TD>
        <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="8%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>100,000</FONT></TD>
        <TD WIDTH="7%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)</FONT></TD>
     <TD WIDTH="8%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>150,000</FONT></TD>
        <TD WIDTH="7%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(5)</FONT></TD>
     <TD WIDTH="8%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>619,645</FONT></TD>
        <TD WIDTH="4%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(9)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;President and Chief</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>391,996</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>450,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(6)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Executive Officer(1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>213,657</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>300,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>150,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Donald P. Weinstein</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2002</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>258,577</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>100,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>30,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(8)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Executive Vice President</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;and Chief Financial</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Officer(1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jose R. Mas</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2002</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>235,062</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1,627</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Vice Chairman of the</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>157,197</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>125,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(7)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1,627</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Board and Executive Vice</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;President(1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Eric J. Tveter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2002</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>126,923</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>68,750</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>50,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(8)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Executive Vice President</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;and Chief Operations</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Officer(1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jose M. Sariego</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2002</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>245,611</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1,060</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Former Senior Vice</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>239,770</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>13,940</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>993</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;President and General</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>224,038</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>200,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>17,418</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>888</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Counsel (1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>
<BR>
<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>




<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH="90%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Mr.
 Shanfelter  became  President  and Chief  Executive  Officer in August  2001.  Mr. Mas
became Vice             Chairman of the Board and Executive Vice President in August
2001. Mr.  Weinstein became Executive Vice             President and Chief Financial
 Officer in January 2002. Mr. Tveter became  Executive Vice President and
            Chief  Operations  Officer in July 2002.  Mr.  Sariego  resigned as Senior
Vice  President  and General             Counsel as of December 31, 2002.</FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
bonus paid to Mr. Shanfelter in 2002 was paid in connection with his amended employment
agreement. The bonuses paid to Messrs. Weinstein and Tveter in 2002 were paid as
inducements for employment and pursuant to their respective employment agreements. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
bonus amounts indicated for 2000 were awarded in the beginning of 2001 for performance
during the year ending December 31, 2000. $30,000 of Jose Sariego&#146;s 2000 bonus was
awarded in stock valued at fair market value on the date of the grant. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
options were granted in the year indicated based on performance in the previous year
unless otherwise noted. Option amounts granted prior to June 19, 2000 have been adjusted
for a three-for-two stock split in the form of a stock dividend effective June 19, 2000. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(5) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Represents
options to acquire 150,000 shares of our common stock that was granted to Mr. Shanfelter
in connection with revising his employment agreement. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(6) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Represents
options to acquire 300,000 shares of our common stock that were granted to Mr. Shanfelter
for his increased responsibilities in connection with becoming President and Chief
Executive Officer in August 2001 and options to acquire 150,000 shares of our common
stock granted for performance during the year ending December 31, 2000 that were awarded
in early 2001. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(7) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Represents
options to acquire 125,000 shares of our common stock that were granted to Mr. Mas for
his increased responsibilities in connection with becoming Vice Chairman of the Board and
Executive Vice President in August 2001. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(8) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Represents
options for Mr. Tveter to acquire 50,000 shares of our common stock and Mr. Weinstein to
acquire 30,000 of our common stock in connection with their respective employment
agreements. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(9)</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Includes
 premiums  paid by MasTec for  insurance  on the lives of Mr.  Shanfelter  and  members
of his family and interest owed to Mr. Shanfelter.</FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(10)</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Represents
 premiums  paid by  MasTec  for the  term  portion  of life  insurance  on the  lives of
the individuals referenced.</FONT></TD>
</TR>
</TABLE>
<BR>
<BR>



<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A052></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Option Grants in Last
Fiscal Year </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table provides information with respect to options to purchase common stock
granted to the Named Executive Officers for the year ended December 31, 2002: </FONT></P>












<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="600">
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=6><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Individual Grants</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=4><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Potential Realizable Value<BR>
at Assumed Annual Rates<BR>
of Stock Price<BR>Appreciation for Option<BR>Term (3)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Name</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Number of<BR>
Shares<BR>
Underlying<BR>
Options<BR>
Granted</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Percent of<BR>Total<BR>Options<BR> Granted to<BR>Employees<BR>for Fiscal<BR>Year(1)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exercise<BR>
Price<BR>
($/sh)(2)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Expiration<BR>
Date</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5%</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10%</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH="27%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Austin J</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="10%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
        <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="5%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
        <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
        <TD WIDTH="7%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="10%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
        <TD WIDTH="10%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
        <TD WIDTH="10%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Shanfelter</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>150,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>17.8</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>%</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.34</FONT></TD>
     <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8/15/09</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>203,957</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>475,307</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Donald P. Weinstein</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>30,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.6</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>%</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7.07</FONT></TD>
     <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>01/02/09</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>86,346</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>201,223</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jose R. Mas</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Eric J. Tveter</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>50,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.9</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>%</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6.14</FONT></TD>
     <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>07/15/09</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>124,980</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>291,256</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jose M. Sariego</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD></TR>
</TABLE>
<BR>
<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Based
on options to purchase an  aggregate of 843,500  shares of common  stock  granted to
employees in             2002.</FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>All
options were granted at an exercise price equal to fair market value based on the mean
between the high and low sale prices of our common stock on the New York Stock Exchange
on the date of grant. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amounts
represent hypothetical gains assuming exercise at the end of the option term and assuming
rates of stock price appreciation of 5% and 10% compounded annually from the date the
respective options were granted to their expiration date. The 5% and 10% assumed rates of
appreciation are mandated by the rules of the Securities and Exchange Commission. These
assumptions are not intended to forecast future appreciation of our stock price. The
potential realizable value computation does not take into account federal or state income
tax consequences of option exercises or sales of appreciated stock. The actual gains, if
any, on the stock option exercises will depend on the future performance of our common
stock, the optionee&#146;s continued employment through applicable vesting periods and
the date on which the options are exercised and the underlying shares are sold. The
closing price of our common stock on November 5, 2003 was $12.93 per share. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A053></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Aggregate Option
Exercises and Year-End Option Values </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth information with respect to each exercise of stock options
during the year ended December 31, 2002 by the Named Executive Officers and the value at
December 31, 2002 of unexercised stock options held by the Named Executive Officers. </FONT></P>
<BR>





<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Shares<BR> Acquired on<BR>
Exercise<BR>
(#)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Value<BR>
Realized<BR>
($)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Number of Shares Underlying<BR>Unexercised Options at<BR>December 31, 2002<BR> Exercisable /Unexercisable<BR>(#)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Value of Unexercised in<BR>
the Money Options at<BR>
December 31, 2002(1)<BR>
Exercisable/Unexercisable<BR>
($)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=16% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Austin J. Shanfelter</FONT></TD>
     <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=11% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD>
     <TD WIDTH=9% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD>
     <TD WIDTH=7% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=28% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>300,829/505,100</FONT></TD>
        <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="6%" ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0/0</FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>

<TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Donald P. Weinstein</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0/30,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0/0</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jose R. Mas</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>138,096/83,333</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0/0</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Eric J. Tveter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0/50,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0/0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jose M. Sariego</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>121,309/0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0/0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>
<BR>
<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>


<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Market
value of shares underlying in-the-money options at December 31, 2002 based on the product
of $2.95 per share, the closing price of MasTec&#146;s common stock on the New York Stock
Exchange on December 31, 2002, less the exercise price of each option, multiplied by the
number of in-the-money options as of that date.</FONT></TD>
</TR>
</TABLE>
<BR>
<BR>
<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A054></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Equity Compensation Plan
Information </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth information about MasTec&#146;s common stock that may be issued
under all of MasTec&#146;s existing equity compensation plans as of December 31, 2002,
which include the 1994 Stock Incentive Plan, 1994 Stock Option Plan for Non-Employee
Directors, 1997 Annual Incentive Compensation Plan, 1997 Non-Qualified Employee Stock
Purchase Plan, Non-Employee Directors&#146; Stock Plan, Inepar Stock Option Agreement,
1999 Non-Qualified Option Plan and individual option agreements. The 1994 Stock Incentive
Plan, 1994 Stock Option Plan for Non-Employee Directors and the 1997 Annual Incentive
Compensation Plan were<B> </B>approved by our shareholders. The information in the
following table does not include securities under our 2003 Employee Stock Incentive Plan
and 2003 Stock Incentive Plan for Non-Employees which were adopted and approved by
shareholders and which became effective subsequent to December 31, 2003. </FONT></P>



<TABLE CELLPADDING=0 CELLSPACING=4 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Plan Category</U></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Number of Securities<BR>
to be Issued Upon <BR>Exercise of <BR>Outstanding Options,<BR>
<U>Warrants and Rights</U>
(a)</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Weighted Average<BR>
Exercise Price of<BR>
Outstanding Options,<BR>
<U>Warrants and Rights</U><BR>
(b)</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Number of Securities<BR>Remaining Available<BR>for Future Issuance <BR>Under Equity<BR>Compensation Plans<BR>(Excluding Securities<BR>Reflected in<BR><U>Column (a)</U><BR>(c)</FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=31% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Equity Compensation Plans</FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=11% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD WIDTH=12% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=16% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
        <TD WIDTH=6% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Approved by Shareholders</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6,099,762</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.59</FONT></TD>
        <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2,023,862</FONT></TD></TR>

<TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Equity Compensation Plans Not</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Approved by Shareholders</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2,644,462</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>17.33</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>591,612</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TOTAL</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8,744,224</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2,615,474</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Calculations
to compute the weighted average for options, warrants and rights under the 1997 Annual
Incentive Plan and Non-Employee Directors&#146; Stock Plan were based upon an assumed
purchase price of $1.61 per share, which was the fair market value based on the mean
between the high and low sale price of our common stock on the New York Stock Exchange on
March 21, 2003, and for the 1997 Non-Qualified Employee Stock Purchase Plan were based
upon an assumed purchase price of $1.37 per share, which is 85% of the fair market value
on March 21, 2003. See &#147;Summaries of Plans Not Approved by Our Shareholders&#148; below
for a description of the Non-Employee Directors&#146; Stock Plan and the 1997
Non-Qualified Employee Stock Purchase Plan.</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
1997 Annual Incentive Plan has 1,500,000 shares remaining available for future issuance,
but MasTec has never issued any shares under the plan and has no current plans to do so.</FONT></TD>
</TR>
</TABLE>
<BR>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A055></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Summaries of Plans Not
Approved by Our Shareholders </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>1997
Non-Qualified Employee Stock Purchase Plan. </I>The MasTec, Inc. 1997 Non-Qualified
Employee Stock Purchase Plan is administered by the Compensation Committee, and permits
employees of MasTec who meet certain criteria set by the Committee to purchase common
stock of MasTec at a 15% discount to the market price at the time of purchase. Such
purchases are made through regular payroll deductions or lump sum investments. Employees
are limited to a maximum investment of $25,000 in the plan each year. The total amount of
common stock reserved under the plan is approximately 365,000 shares, substantially all of
which have been purchased. The Board of Directors is considering amending the plan to
increase the available number of shares under the plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Non-Employee
Directors&#146; Stock Plan. </I>The MasTec, Inc. Non-Employee Directors&#146; Stock Plan
adopted in 1998 permits non-employee directors to elect to receive all or a specified
percentage of any director fees paid for each year of service on the board in shares of
MasTec common stock. The number of shares issued to each non-employee director is
determined by dividing the director&#146;s fees owed to such director by the fair-market
value of a share of common stock on the date of the issue. The shares issued are delivered
to the non-employee director and the non-employee director has all the rights and
privileges of a stockholder as to the shares. The shares were immediately vested upon
grant and were not forfeitable to MasTec. The maximum number of shares of common stock
that may be issued under the plan is 150,000, substantially all of which have not been
issued. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
plan is administered by the Compensation Committee. The Committee has authority to adopt
such rules as it may deem appropriate to carry out the purposes of the plan. In the event
MasTec undertakes a transaction resulting in a change in the outstanding common stock, the
Committee in its discretion may make proportionate adjustments as it considers appropriate
to prevent diminution or enlargement of the rights of non-employee directors under the
plan with respect to the aggregate number of shares of common stock authorized to be
issued under the plan. MasTec has not used this plan in the last four years since director
compensation has been paid by grant of options to purchase common stock and has no current
plans to use this plan in the future. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>1999
Non-Qualified Employee Stock Option Plan. </I>The 1999 Non-Qualified Employee Stock Option
Plan is administered by the Compensation Committee of the board and permits the Committee
to grant non-qualified options to purchase up to 3,000,000 shares of common stock to any
MasTec employee. The Compensation Committee determines the recipient of options, the
number of shares covered by each option, and the terms and conditions of options within
the parameters of the plan (including the exercise price, vesting schedule, and the
expiration date) and may adopt rules and regulations necessary to carry out the plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options
may be granted pursuant to the plan until January 31, 2009, after which time no further
options will be granted under the plan, but options previously granted may be exercised
pursuant to the respective terms. The Compensation Committee has the authority to change
or discontinue the plan or the options issued pursuant thereto at any time without the
holders consent so long as the holders&#146; rights would not be impaired. The plan
permits the Compensation Committee to determine and accept different forms of payment
pursuant to the exercise of options. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
plan provides for the termination of all outstanding options whether or not vested in the
event of a termination of employment, and permits the Committee to take certain actions in
the event of a change of control to ensure fair and equitable treatment of the employees
who hold options granted under the plan, including accelerating the vesting of any
outstanding option, offering to purchase any outstanding option and making other changes
to the terms of the outstanding options. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Inepar
Stock Option Agreement. </I>Effective July 31, 1997, MasTec granted Inepar S.A.
Ind&uacute;stria e Construc&#245;es , a Brazilian corporation, an option to
purchase 75,000 shares of MasTec common stock at $17.67 per share in connection with an
acquisition by MasTec. All of the Inepar options are currently vested and will expire on
July 31, 2007. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Individual
Option Grants. </I>MasTec has entered into various option agreements (for approximately
211,000 shares of common stock) with non-employee directors, advisors and other parties in
connection with providing certain services, acquisitions and other matters. Such options
have various vesting schedules and exercise prices and have been included in the equity
compensation plan table above. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A056></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment and Other
Agreements </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
January 1, 2002, MasTec entered into an employment agreement with Austin J. Shanfelter
relating to his employment as President and Chief Executive Officer. The agreement is for
a term of four years unless earlier terminated, and provides that Mr. Shanfelter will be
paid an annual salary of $600,000, an initial bonus of $100,000 prior to March 31, 2003
and deferred compensation of $2,000,000. The agreement also provides for a bonus to be
paid pursuant to an incentive performance bonus plan to be agreed upon and stock options
pursuant to MasTec&#146;s stock option plans. Following termination of employment, the
agreement provides for a two-year consulting period at $500,000 per year. Additionally, if
there is a change of control of MasTec during the employment term, the executive will be
entitled to all of the unpaid portion of his salary for the remaining term of the
agreement, to the consulting fees, any unpaid portion of the initial bonus and the
deferred compensation amount and to immediate vesting of any previously unvested options.
The agreement also contains gross-up for any excise taxes, confidentiality,
non-competition and non-solicitation provisions. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
January 1, 2002, MasTec set forth the terms and conditions of employment of Donald P.
Weinstein relating to his employment as Executive Vice President &#151; Chief Financial
Officer. These terms state that they are not to be construed as an employment agreement
and that Mr. Weinstein is an employee at-will and may be terminated at any time upon one
day&#146;s written notice. These terms specify that Mr. Weinstein will be paid an annual
salary of $270,000 and a guaranteed bonus of at least $60,000 for 2002. MasTec granted Mr.
Weinstein options to purchase 30,000 shares of stock pursuant to the terms of
MasTec&#146;s stock option plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
January 1, 2002, MasTec and Carmen Sabater, former Chief Financial Officer of MasTec,
amended Ms. Sabater&#146;s employment agreement, terminating such agreement as of January
1, 2002. MasTec agreed to pay Ms. Sabater total severance payments during the year 2002 of
$500,000 and forgave a $125,000 obligation to MasTec under a promissory note dated
November 2000. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
July 2002, MasTec entered into an employment agreement with Eric J. Tveter as Executive
Vice President and Chief Operations Officer with a two year term at an annual base
salary of $300,000 (with annual cost of living increases) and a grant of 50,000 stock
options, a guaranteed bonus for the year 2002 equal to one half of his base salary paid to
him during the year 2002 and payable prior to March 31, 2003, and the right to participate
in MasTec&#146;s bonus plan for Senior Management Committee January 1, 2003. The agreement
contains noncompete and nonsolicitation provisions for a period of two years following the
term of the agreement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
December 2002, MasTec entered into a severance agreement with Jose M. Sariego,
MasTec&#146;s Senior Vice President and General Counsel, effective December 31, 2002.
MasTec will provide Mr. Sariego total severance payments of $120,000 during 2003, payment
of certain insurance benefits and the vesting of his outstanding options. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
June 2001, MasTec agreed to pay up to $300,000 over a four year period of the premiums on
policies of life insurance on Mr. Shanfelter and members of his family in exchange for a
promissory note from Mr. Shanfelter in the full amount of the premiums to be paid plus
interest together with an assignment of the policies as collateral for the promissory
note. The full amount of the promissory note plus interest is payable solely from the
proceeds of the policies, when paid, which are assigned to MasTec. The balance of proceeds
from the policies, after repayment of the promissory note plus interest, will be remitted
to the applicable insured&#146;s beneficiary. MasTec has not paid premiums under these
policies since April 2002 and will not make any future payments under these policies. On
November 1, 2002, MasTec and Austin Shanfelter entered into a split dollar agreement
wherein MasTec agreed to pay the premiums due on a life insurance policy with an aggregate
face amount of $18,000,000. Mr. Shanfelter and his spouse are the insureds under the
policy. Under the terms of this agreement, MasTec is the sole owner and beneficiary of the
policy and is entitled, upon the death of the insureds, to recover the greater of all
premiums it pays on the policy plus interest equal to four percent, compounded annually,
or the then-cash-surrender value. The remainder of the policy&#146;s proceeds will be paid
in accordance with Mr. Shanfelter&#146;s designations. MasTec will make the premium
payments for the term of the agreement or until the agreement is terminated, which occurs
upon any of the following events: (i) total cessation of MasTec&#146;s business, (ii)
bankruptcy, receivership or dissolution of MasTec, or (iii) the six year anniversary of
the agreement. In 2002, MasTec paid approximately $500,000 in premiums in connection with
insurance policies for Mr. Shanfelter and his family. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
August 7, 2001, MasTec entered into a severance agreement with Joel-Tomas Citron relating
to his separation from MasTec. Under the agreement, MasTec is obligated to pay Mr. Citron
$10,000,000 in equal installments, without interest, on September 3, 2001, January 2,
2002, April 1, 2002, July 1, 2002 and October 1, 2002. The final installment was reduced
by $750,000 to offset the amount due to MasTec under a non-interest bearing demand
promissory note between MasTec and Mr. Citron. The severance agreement specifies that Mr.
Citron will provide certain consulting services to MasTec upon MasTec&#146;s request until
August 7, 2003. All of Mr. Citron&#146;s stock options to acquire MasTec common stock
became fully vested and immediately exercisable under the severance agreement. Under the
agreement, Mr. Citron agreed to certain restrictions on his ability to provide services to
persons or entities that compete with MasTec or any of its affiliates, to solicit
customers and employees of MasTec and to disclose MasTec&#146;s confidential information.
Mr. Citron also agreed to aid MasTec in any legal proceedings or investigations and agreed
to release MasTec from any claims relating to his employment with MasTec. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A057></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Compensation Committee
Interlocks and Insider Participation </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Compensation Committee of the Board of Directors is responsible for establishing and
administering the policies for MasTec&#146;s compensation programs and for approving the
compensation levels of the executives of MasTec, including its Chief Executive Officer.
The Compensation Committee also reviews with the Chief Executive Officer guidelines for
salaries and bonus awards applicable to MasTec&#146;s employees other than its executives.
The Compensation Committee is composed of Arthur B. Laffer, who serves as Chairman,
William N. Shiebler and Jose S. Sorzano, all of whom are independent directors of MasTec. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.
          Laffer, who is a MasTec director and serves as Chairman of our Compensation
          Committee, resigned as a member of the board of directors and compensation
          committee of Neff Corp. on November 18, 2002. MasTec purchases, rents and leases
          equipment used in its business from a number of different vendors, on a
          nonexclusive basis, including Neff Corp. Jorge Mas and Jose Ramon Mas, Chairman
          of the Board and Vice Chairman of the Board and Executive Vice President of
          MasTec, respectively, are members of the Board of Directors of Neff Corp., and
          Juan Carlos Mas, the brother of Jorge and Jose Ramon Mas, is the Chairman, CEO
          and a director of Neff Corp. Messrs. Jorge, Jose Ramon and Juan Carlos Mas, and
          their respective families, own a controlling interest in both MasTec and Neff
          Corp. During the year ended December 31, 2002, MasTec paid Neff approximately
          $1.8 million for equipment purchases, rentals and leases, which constituted
          approximately 4.1% of MasTec&#146;s total equipment purchases, rentals and
          leases during the year. MasTec believes the amount paid to Neff is equivalent to
          the payments that would have been made between unrelated parties for similar
          transactions acting at arm&#146;s length. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A058></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MISCELLANEOUS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A059></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>List of MasTec&#146;s
Shareholders </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
list of MasTec&#146;s shareholders as of November 5, 2003 the record date for the Special
Meeting, will be available for inspection at our corporate headquarters located at 3155
N.W. 77th Avenue, Miami, Florida, during normal business hours during the 10-day period
prior to the Special Meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A060></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Shareholders&#146;
Proposals for 2004 Annual Meeting </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
our bylaws, MasTec must receive any proposal of an eligible shareholder intended to be
presented at the Annual Meeting of Shareholders of MasTec in 2004 on or before December
31, 2003, for the proposal to be eligible for inclusion in our Proxy Statement and Proxy
related to that meeting. Any notice regarding a shareholder proposal must include the
information specified in Article I, Section 9 of our bylaws. If a shareholder fails to
comply with Article I, Section 9 of our bylaws or notifies MasTec after December 31, 2003
of an intent to present a proposal at MasTec&#146;s Annual Meeting of Shareholders in the
year 2004, the proposal will not be considered. A copy of our bylaw requirements will be
provided upon written request to: MasTec Legal Department, 3155 N.W. 77<SUP>th
</SUP>Avenue, Miami, Florida 33122-1205. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A061></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Householding </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
contrary instructions are received, MasTec may send a single copy of the Proxy Statement
and Notice of Special Meeting to any household at which two or more shareholders reside if
MasTec believes the shareholders are members of the same family. Each shareholder in the
household will continue to receive a separate proxy card. This process is known as
&#147;householding&#148; and helps reduce the volume of duplicate information received at
a single household, which reduces costs and expenses borne by MasTec. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="Justify"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you would like to receive a separate set of MasTec&#146;s annual disclosure documents this
year or in future years, follow the instructions described below. Similarly, if you share
an address with another shareholder and the two of you would like to receive only a single
set of our annual disclosure documents, follow the instructions below: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If your shares are registered in your own name, please contact our transfer agent Wachovia
Securities, and inform them of your request by calling them at 1-800-829-8432 or by
writing to them at Corporate Trust Client Services NC-1153, 1525 West W.T. Harris
Boulevard 3C3, Charlotte, North Carolina 28262-1153. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a bank, broker or other nominee holds your shares, please contact your bank, broker or
other nominee directly. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A062></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Other Matters that May
Come Before the Special Meeting </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors does not intend to present and knows of no others who intend to present
at the Special Meeting any matter or business other than that set forth in the
accompanying Notice of Special Meeting of Shareholders. If other matters are properly
brought before the Special Meeting, it is the intention of the persons named in the
accompanying form of proxy to vote any proxies on such matters in accordance with their
judgment. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Cristina Canales </U><BR>
Cristina Canales, Secretary<BR> Miami, Florida<BR> November 17, 2003 </FONT></P>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 3; page: 3" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPENDIX </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MASTEC, INC </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2003 STOCK INCENTIVE
PLAN FOR NON-EMPLOYEES </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>As amended and
restated, effective as of October 16, 2003  </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SECTION 1 &#150; PURPOSE</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH="97%"><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Purpose</U>.
The purpose of this Plan is to further the growth and development of the Company by
encouraging Directors who are not employees and Advisors to the Company to obtain a
proprietary interest in the Company by owning its stock. The Company intends that the
Plan will provide such persons with an added incentive to continue to serve as Directors
and Advisors and will stimulate their efforts in promoting the growth, efficiency and
profitability of the Company. The Company also intends that the Plan will afford the
Company a means of attracting persons of outstanding quality to service on the Board and
on the boards of directors of Related Companies.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Awards
Available Under the Plan</U>. The Plan permits grants of nonqualified stock options (&#147;NQSOs&#148;)
and Restricted Stock. NQSOs are options that do not qualify as &#147;incentive stock
options&#148; under Code Section 422 and are subject to taxation under Code &sect; 83.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective
Date and Term of the Plan</U>. The Board of Directors of the Company originally adopted
the Plan on April 21, 2003, to become effective as of May 30, 2003 (the &#147;Original
Effective Date&#148;). The Board of Directors adopted this amendment and restatement of
the Plan on October 16, 2003 (the &#147;Effective Date&#148;), contingent upon the
approval of the shareholders of the Company at the December 10, 2003 special shareholders
meeting. Unless earlier terminated by the Company, the Plan shall remain in effect until
the tenth anniversary of the Original Effective Date or May 30, 2013. Notwithstanding its
termination, the Plan shall remain in effect with respect to Options as long as any
Options are outstanding.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Operation,
Administration and Definitions</U>. The operation and administration of the Plan are
subject to the provisions of this plan document. Capitalized terms used in the Plan are
defined in Section 2 below or may be defined within the Plan.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.5 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
Compliance</U>. The Plan is intended to comply with the requirements for exemption of
stock options under the provisions of Rule 16b-3 under the 1934 Act.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SECTION 2 &#150;
DEFINITIONS</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following words and phrases as used in this Plan shall have the meanings set forth in this
Section unless a different meaning is clearly required by the context: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1933
Act shall mean the Securities Act of 1933, as amended. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1934
Act shall mean the Securities Exchange Act of 1934, as amended. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Advisor</U> shall
mean any individual who serves as an advisor or consultant to the Company or a Related
Company under a relationship other than that of a common law employee of the Company or a
Related Company (including but not limited to independent contractors.)  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement</U> means
an Option Agreement or a Restricted Stock Agreement, as those terms have been defined
under this Plan.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.5 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Beneficiary</U>
shall mean, with respect to a Participant: </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation
of Beneficiary</U>. A Participant&#146;s Beneficiary shall be the           individual
who is last designated in writing by the Participant as such           Participant&#146;s
Beneficiary under an Option Agreement or Restricted Stock           Agreement. A
Participant shall designate his or her Beneficiary in writing on           his or her
Option Agreement or Restricted Stock Agreement. Any subsequent           modification of
the Participant&#146;s Beneficiary shall be in a written           executed letter
addressed to the Company and shall be effective when it is           received and
accepted by the Committee, determined in the Committee&#146;s sole           discretion.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation
of Multiple Beneficiaries</U>. A Participant may not designate           more than one
individual as a Beneficiary. To the extent that a designation           purports to
designate more than one individual as a Beneficiary, the designation           shall be
null and void.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Designated Beneficiary</U>. If, at any time, no Beneficiary has been           validly
designated by a Participant, or the Beneficiary designated by the           Participant
is no longer living at the time of the Participant&#146;s death,           then the
Participant&#146;s Beneficiary shall be deemed to be the           Participant&#146;s
estate, and only the executor or administrator (or a trustee           designated by the
executor) of the estate shall be permitted to exercise the           Option or receive
the award of Restricted Stock.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Board</U>
shall mean the Board of Directors of Mastec, Inc. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.7 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Change of Control</U> shall mean the date of: </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acquisition
By Person of Substantial Percentage</U>. The acquisition by a           Person (including
&#147;affiliates&#148; and &#147;associates&#148; of such           Person, but excluding
the Company, any &#147;parent&#148; or           &#147;subsidiary&#148; of the Company,
or any employee benefit plan of the           Company or of any &#147;parent&#148; or
&#147;subsidiary&#148; of the Company)           of a sufficient number of shares of the
Common Stock, or securities convertible           into the Common Stock, and whether
through direct acquisition of shares or by           merger, consolidation, share
exchange, reclassification of securities or           recapitalization of or involving
the Company or any &#147;parent&#148; or           &#147;subsidiary&#148; of the Company,
to constitute the Person the actual or           beneficial owner of 51% or more of the
Common Stock, but only if such           acquisition occurs without approval or
ratification by a majority of the members           of the Board;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disposition
of Assets</U>. Any sale, lease, transfer, exchange, mortgage,           pledge or other
disposition, in one transaction or a series of transactions, of           all or
substantially all of the assets of the Company or of any           &#147;subsidiary&#148; of
the Company to a Person described in subsection (a)           above, but only if such
transaction occurs without approval or ratification by a           majority of the
members of the Board; or  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Substantial
Change of Board Members</U>. During any fiscal year of the           Company, individuals
who at the beginning of such year constitute the Board           cease for any reason to
constitute at least a majority thereof, unless the           election of each director
who was not a director at the beginning of such period           has been approved in
advance by a majority of the directors in office at the           beginning of the fiscal
year.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Section, the terms &#147;affiliate,&#148; &#147;associate,&#148;
&#147;parent&#148; and &#147;subsidiary&#148; shall have the respective meanings ascribed
to such terms in Rule 12b-2 under Section 12 of the 1934 Act. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Code</U> shall
mean the Internal Revenue Code of 1986, as amended. A reference to a section of the Code
shall include all regulations, rulings and other authority issued thereunder.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.9 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Committee</U> shall
mean the Compensation Committee as appointed by the Board from time to time. The
Committee shall be responsible for administering and interpreting the Plan in accordance
with Section 3 below.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.10 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Common Stock</U> shall mean the par value $0.10 common stock of the Company. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.11 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company</U>
shall mean Mastec, Inc. and its subsidiaries or any Related Company. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.12 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Director</U> shall
mean an individual who (i) is serving as a member of the Board and (ii) is not and never
has been either an officer or common law employee of the Company or a Related Company.
For purposes of the Plan, a &#147;common law employee&#148; is an individual whose wages
are subject to withholding of federal income taxes under Code Section 3401, and an &#147;officer&#148; is
an individual elected or appointed by the Board or chosen in such other manner as may be
prescribed in the bylaws of the Company to serve as such.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.13 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective Date</U> shall mean October 16, 2003, subject to shareholder approval. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.14 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise Price</U> shall mean the purchase price of the shares of Common Stock underlying an Option. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.15 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fair Market Value</U> of the Common Stock as of a date of determination shall mean the following: </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Listed and Shares Traded</U>. If the Common Stock is listed and traded           on a
national securities exchange (as such term is defined by the 1934 Act) or           on
the NASDAQ National Market System on the date of determination, the Fair           Market
Value per share shall be the last sale price of a share of the Common           Stock on
the applicable national securities exchange or National Market System           on the
date of determination at the close of trading on such date. If the Common           Stock
is traded in the over-the-counter market, the Fair Market Value per share           shall
be the average of the closing bid and asked prices on the date of
          determination.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Listed But No Shares Traded</U>. If the Common Stock is listed on a           national
securities exchange or on the National Market System but no shares of           the
Common Stock are traded on the date of determination but there were shares
          traded on dates within a reasonable period before the date of determination,
the           Fair Market Value shall be the last sale price of the Common Stock on the
most           recent trade date before the date of determination at the close of trading
on           such date. If the Common Stock is regularly traded in the over-the-counter
          market but no shares of the Common Stock are traded on the date of
determination           (or if records of such trades are unavailable or burdensome to
obtain) but there           were shares traded on dates within a reasonable period before
the date of           determination, the Fair Market Value shall be the average of the
closing bid and           asked prices of the Common Stock on the most recent date before
the date of           determination.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Not Listed</U>. If the Common Stock is not listed on a national           securities
exchange or on the National Market System and is not regularly traded           in the
over-the-counter market, then the Committee shall determine the Fair           Market
Value of the Common Stock from all relevant available facts, which may           include
the average of the closing bid and ask prices reflected in the           over-the-counter
market on a date within a reasonable period either before or           after the date of
determination or opinions of independent experts as to value           and may take into
account any recent sales and purchases of such Common Stock to           the extent they
are representative.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee&#146;s determination of Fair Market Value, which shall be made pursuant to the
foregoing provisions, shall be final and binding for all purposes of this Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.16 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>NQSO</U> shall
mean a nonqualified stock option to purchase shares of the Common Stock, which is an
option to which Code &sect; 422 (relating to certain incentive stock options) does not
apply.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.17 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Option</U>
shall mean a NQSO granted to a Participant pursuant to the terms and provisions of this
Plan.   </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.18 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Option
Agreement </U>shall mean a written agreement, executed and dated by the Company and an
Optionee, evidencing an Option granted under the terms and provisions of this Plan,
setting forth the terms and conditions of such Option, and specifying the name of the
Optionee, the number of shares of stock subject to such Option and other terms and
conditions of the Option.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.19 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Optionee</U> shall
mean any nonemployee Director or Advisor who is granted an Option pursuant to the terms
and provisions of this Plan.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Original Effective Date</U> shall mean May 30, 2003. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<A NAME=A007></A>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.21 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Participant</U> means an Optionee or Recipient. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.22 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Person</U>
shall mean any individual, organization, corporation, partnership or other entity. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.23 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Plan</U>
shall mean this Mastec, Inc. 2003 Stock Incentive Plan For Non-Employees. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.24 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Recipient</U>
means a Director or Advisor who is awarded Restricted Stock. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.25 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Related
Company</U> means any member within the Company&#146;s controlled group of corporations,
as that term is defined in Code &sect; 1563(a), in addition to any partnerships, joint
ventures, limited liability companies, limited liability partnerships or other entities
in which the Company owns more than a 50 percent interest.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.26 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Stock</U> means an award of Common Stock subject to restrictions as provided in Section 7
of the Plan, subject to such conditions, restrictions and contingencies as the Committee
determines, including the satisfaction of specified performance measures and/or
forfeiture provisions.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.27 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Stock Agreement</U> means a written agreement signed and dated by the Committee (or its
designee) and a Recipient that specifies the terms and conditions of a grant of
Restricted Stock.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SECTION 3 &#150;
ADMINISTRATION</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General
Administration</U>. The Plan shall be administered and interpreted by the Committee (as
designated pursuant to Section 3.2). Subject to the express provisions of the Plan, the
Committee shall have authority to interpret the Plan, to prescribe, amend and rescind
rules and regulations relating to the Plan, to determine the terms and provisions of the
Option Agreements by which Options shall be evidenced and the Restricted Stock Agreements
(neither of which shall be inconsistent with the terms of the Plan), and to make all
other determinations necessary or advisable for the administration of the Plan, all of
which determinations shall be final, binding and conclusive.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Appointment</U>.
The Board shall appoint the Committee from among its members to serve at the pleasure of
the Board. The Board from time to time may remove members from, or add members to, the
Committee and shall fill all vacancies thereon. The Committee at all times shall be
composed of two or more non-employee directors who shall meet the following requirements.
During the period any director is serving on the Committee, he shall not (i) be an
officer of the Company or a parent or subsidiary of the Company, or otherwise currently
employed by the Company or a parent or subsidiary of the Company; (ii) receive
compensation, either directly or indirectly, from the Company or a parent or subsidiary
of the Company for services rendered as a consultant or in any capacity other than as a
director, except for an amount that does not exceed the dollar amount for which
disclosure would be required pursuant to Rule 404(a) of the 1934 Act; (iii) possess an
interest in any other transaction for which disclosure would be required pursuant to Rule
404(a); and (iv) be engaged in a business relationship for which disclosure would be
required pursuant to Rule 404(b). The requirements of this subsection are intended to
comply with Rule 16b-3 under Section 16 of the 1934 Act or any successor rule or
regulation, and shall be interpreted and construed in a manner which assures compliance
with said Rule. To the extent said Rule 16b-3 is modified to reduce or increase the
restrictions on who may serve on the Committee, the Plan shall be deemed modified in a
similar manner.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization</U>.
The Committee shall hold its meetings at such times and at such places as it shall deem
advisable. A majority of the Committee shall constitute a quorum, and such majority shall
determine its actions. The Committee shall keep minutes of its proceedings and shall
report the same to the Board at the meeting next succeeding.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Powers
of Committee</U>. Except for the formula grant provisions of Section 5.2 of the Plan, the
Committee shall decide to whom and when (i) to grant an Option and the number of shares
of Common Stock covered by the Option; or (ii) to award shares of Restricted Stock and
the numbers of shares to be so awarded. The Committee may, with the consent of the
Participant entitled to exercise any outstanding Option or the holder of any shares of
Restricted Stock, amend an Option or an award of Restricted Stock in any manner
consistent with the provisions of this Plan that it may deem advisable, including
accelerating the vesting schedule upon a Participant&#146;s termination of services,
whether as a Director or Advisor, to the Company. In making decisions, the Committee may
take into account the nature of services rendered by the individual, the individual&#146;s
present and potential contribution to the Company&#146;s success and such other factors
as the Committee, in its sole discretion, deems relevant.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          The
Committee shall interpret the Plan, establish and rescind any rules and
          regulations relating to the Plan, decide the terms and provisions of any Option
          Agreements or Restricted Stock Agreements made under the Plan, and determine
how           to administer the Plan. The Committee also shall decide administrative
methods           for the exercise of Options and the awards of Restricted Stock. Each
Committee           decision shall be final, conclusive and binding on all parties.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          The
Committee shall act by a majority of its then members, at a meeting of the
          Committee or by unanimous written consent. The Committee shall keep adequate
          records concerning the Plan and the Committee&#146;s proceedings and acts in
          such form and detail as the Committee may decide.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.5 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.
In addition to such other rights of indemnification as they have as directors or as
members of the Committee, the members of the Committee (and any designees of the
Committee as permitted under this Section 3), to the extent permitted by applicable law,
shall be indemnified by the Company against reasonable expenses (including, without
limitation, attorneys&#146; fees) actually and necessarily incurred in connection with
the defense of any action, suit or proceeding, or in connection with any appeal, to which
they or any of them may be a party by reason of any action taken or failure to act under
or in connection with the Plan or any Options granted hereunder, and against all amounts
paid by them in settlement thereof (provided such settlement is approved to the extent
required by and in the manner provided by the articles or certificate of incorporation or
the bylaws of the Company relating to indemnification of directors) or paid by them in
satisfaction of a judgment in any such action, suit or proceeding, except in relation to
matters as to which it shall be adjudged in such action, suit or proceeding that such
Committee member or members did not act in good faith and in a manner he or they
reasonably believed to be in or not opposed to the best interest of the Company.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SECTION 4 &#150;
SHARES SUBJECT TO PLAN</B> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Subject to Plan.</U> The Common Stock subject to Options, awards of Restricted Stock and
other provisions of the Plan shall consist of the following:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;authorized
but unissued shares of Common Stock;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          shares
of Common Stock held by the Company in its treasury which have been           reacquired;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          shares
of Common Stock purchased by the Company in the open market; or  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          shares
of Common Stock allocable to the unexercised portion of any expired or
          terminated Option granted under the Plan again may become available for grants
          of Options under the Plan.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Number
of Shares Available under the Plan.</U> Subject to readjustment in accordance with the provisions of Section 8, the total number of shares of Common Stock for which Options or
Restricted Stock awards may be granted under the Plan shall be 1,000,000 shares of Common Stock, plus an increase as of each December 31 (commencing on December 31, 2003) equal to
a number of shares equal to the difference between the number of shares subject to grants
made under the Plan during the 12-month period ending on such December 31, less any
shares subject to grants that again became available for issuance under the Plan due to
forfeiture, termination, surrender or other cancellation of the underlying grant without
such shares being issued. Notwithstanding the foregoing, in no event shall more than an
aggregate of 2,500,000 shares of Common Stock be authorized for issuance during the term
of the Plan (unless the Plan is amended in accordance with its terms and in compliance
with all applicable statutes, rules and regulations).  </FONT></P></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SECTION 5 &#150;
ELIGIBILITY TO RECEIVE AND GRANT OF OPTIONS</B> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Individuals
Eligible for Grants of Options</U>. The individuals eligible to receive Options hereunder
shall be solely those individuals who are Directors (as defined in Section 2.12 of the
Plan) or Advisors (as defined in Section 2.3 of the Plan). Such Directors and Advisors
shall receive Options hereunder in accordance with the provisions of Sections 5.2 and 5.3
below.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Formula
Grants of Options</U>. Effective upon the Effective Date, Options shall be granted to
Directors (as defined in Section 2.12 of the Plan) in accordance with the following
formulas:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Option
Upon Initially Becoming a Director</U>. Upon initially becoming a           Director and
each reelection to serve a three-year term as a Director, the           Director shall be
granted an Option to purchase 20,000 shares of Common Stock as           of the first
business day of the month following appointment or election, with           such Option
subject to the provisions of Section 6 below. Options granted under           this
subsection shall be evidenced by an Option Agreement.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Service
Option Grants</U>. As each Director begins a service year in which           the Director
does not receive an Option grant pursuant to Section 5.2(a) above,           the Director
shall be granted an Option to purchase 7,500 shares of Common Stock           as of the
first business day of the month following the date of the annual           shareholders
meeting, with such Option subject to the provisions of Section 6           below. Options
granted under this subsection shall be evidenced by an Option           Agreement.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insufficient
Shares</U>. In the event that the number of shares available for           grants under
the Plan is insufficient to make all grants provided herein on the           applicable
date, then all those who become entitled to a grant on such date           shall share
ratably in the number of shares then available for grant under the           Plan.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Discretionary
Grants of Options</U>. Subject to the provisions of the Plan, the Committee shall have
the authority and sole discretion to determine and designate, from time to time,
Directors (as defined in Section 2.12 of the Plan) and Advisors (as defined in Section
2.3 of the Plan) to whom Options will be granted, the Exercise Price of the shares
covered by any Options granted, and the manner in and conditions under which Options are
exercisable (including, without limitation, any limitations or restrictions thereon). In
making such determinations, the Committee may take into account the nature of the
services rendered by the respective individuals to whom Options may be granted, their
present and potential contributions to the Company&#146;s success and such other factors
as the Committee, in its sole discretion, shall deem relevant. In its authorization of
the granting of an Option hereunder, the Committee shall specify the name of the
Optionee, the number of shares of common stock subject to such Option, the exercise price
of the Option, the term of the Option and any restrictions, conditions, forfeitures or
cancellation provisions. The Committee may grant, at any time, new Options to an Optionee
who previously has received Options, whether such Options include prior Options that
still are outstanding, previously have been exercised in whole or in part, or have
expired. No individual shall have any claim or right to be granted Options under the
Plan.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SECTION 6 &#150; TERMS
AND CONDITIONS OF OPTIONS</B> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise provided by the Committee, Options granted hereunder and Option Agreements shall
comply with and be subject to the following terms and conditions: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Requirement
of Option Agreement</U>. Upon the grant of an Option hereunder, the Committee shall
prepare (or cause to be prepared) an Option Agreement. The Committee shall present such
Option Agreement to the Optionee. Upon execution of such Option Agreement by the
Optionee, such Option shall be deemed to have been granted effective as of the date of
grant. The failure of the Optionee to execute the Option Agreement within 30 days after
the date of the receipt of same shall render the Option Agreement and the underlying
Option null and void ab initio.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Optionee
and Number of Shares</U>. Each Option Agreement shall state the name of the Optionee and
the total number of shares of the Common Stock to which it pertains, the Exercise Price,
the Beneficiary of the Optionee, and the date as of which the Option was granted under
this Plan, and any expiration date of the Option.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
Price</U>. The Exercise Price of the shares of Common Stock underlying each Option shall
not be less than the Fair Market Value of the Common Stock on the date the Option is
granted. Upon execution of an Option Agreement by both the Company and Optionee, the date
as of which the Option was granted under this Plan as noted in the Option Agreement shall
be considered the date on which such Option is granted.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercisability of Options.</U></FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Formula
Grants</U>. Each Option granted under Section 5.2 shall first become
          exercisable with respect to such portions of the shares subject to such Option
          as are specified in the schedule set forth herein below:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Commencing
as of the first anniversary of the date the Option is granted, the           Optionee
shall have the right to exercise the Option with respect to, and to           thereby
purchase, 33 percent (rounded down to the nearest whole number) of the           shares
subject to such Option. Prior to said date, the Option shall be           unexercisable
in its entirety.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Commencing
as of the second anniversary of the date the Option is granted, the           Optionee
shall have the right to exercise the Option with respect to, and to           thereby
purchase, an additional 33 percent (rounded down to the nearest whole           number)
of the shares subject to the Option.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Commencing
as of the third anniversary of the date the Option is granted, the           Optionee
shall have the right to exercise the Option with respect to, and to           thereby
purchase, the remainder of the shares subject to the Option.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Notwithstanding
the above, any Options previously granted to an Optionee shall           become
immediately exercisable for 100% of the number of shares subject to the           Options
upon a Change of Control.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Discretionary
Grants</U>. Unless the Committee specifies otherwise in the           Option Agreement,
each Option granted under Section 5.3 shall first become           exercisable with
respect to such portions of the shares subject to such Option           as are specified
in the schedule set forth herein below:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Commencing
as of the first anniversary of the date the Option is granted, the           Optionee
shall have the right to exercise the Option with respect to, and to           thereby
purchase, 33 percent (rounded down to the nearest whole number) of the           shares
subject to such Option. Prior to said date, the Option shall be           unexercisable
in its entirety.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Commencing
as of the second anniversary of the date the Option is granted, the           Optionee
shall have the right to exercise the Option with respect to, and to           thereby
purchase, an additional 33 percent (rounded down to the nearest whole           number)
of the shares subject to the Option.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Commencing
as of the third anniversary of the date the Option is granted, the           Optionee
shall have the right to exercise the Option with respect to, and to           thereby
purchase, the remainder of the shares subject to the Option.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Notwithstanding
the above, any Options previously granted to an Optionee shall           become
immediately exercisable for 100% of the number of shares subject to the           Options
upon a Change of Control.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.5 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expiration Date</U>.  The Expiration Date of any Option shall be the earliest to occur of the following:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Term</U>. The date ten (10) years from the date of grant of the           Option;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Death</U>.
Unless the Committee specifies otherwise in the Option Agreement,           the one-year
anniversary of the Optionee&#146;s termination of service with the           Company and
all Related Companies due to death; or  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of Service as Director or Advisor</U>. Unless the Committee           specifies otherwise
in the Option Agreement, the one-year anniversary of the           Optionee&#146;s
termination of service as a Director or Advisor of the Company           other than as
provided under Section 6.5(b) above.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Exercise Amount</U>. The exercise of an Option may be for less than the full number of
shares of Common Stock subject to such Option, but such exercise shall not be made for
less than (i) 100 shares or (ii) the total remaining shares subject to the Option, if
such total is less than 100 shares. Subject to the other restrictions on exercise set
forth herein, the unexercised portion of an Option may be exercised at a later date by
the Optionee.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.7 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Exercise Price</U>. The Optionee must pay the full Exercise Price for shares of Common
Stock purchased upon the exercise of any Option at the time of such exercise by one of
the following forms of payment:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;cash;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by
surrendering unrestricted previously held shares of Common Stock that have a
          fair market value equal to the Exercise Price at the time of exercise. The
          Optionee must have held the surrendered shares of Common Stock for at least six
          (6) months before their surrender. The Optionee may surrender shares of Common
          Stock either by attestation or by the delivery of a certificate or certificates
          for shares duly endorsed for transfer to the Company, and if required by the
          Committee, with medallion level signature guarantee by a member firm of a
          national stock exchange, by a national or state bank (or guaranteed or
notarized           in such other manner as the Committee may require); or  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
combination of the above forms or any other form of payment permitted by the
          Committee.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.
Unless the Committee specifies otherwise in the Option Agreement, an Optionee may
transfer Options only by the laws of descent and distribution. After the death of an
Optionee, only a named Beneficiary or the executor or administrator of the Optionee&#146;s
estate may exercise an outstanding Option. Notwithstanding the foregoing, with the
approval of the Committee and in its sole discretion, an Option Agreement may be amended
to permit the Optionee to transfer grants of options under this Plan to such Persons as
the Committee deems appropriate.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.9 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights
as a Shareholder</U>. An Optionee shall first have rights as a shareholder of the Company
with respect to shares of Common Stock covered by an Option only when the Optionee has
paid the Exercise Price in full and the shares actually have been issued to the Optionee.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION 7 &#150;RESTRICTED
STOCK  </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Stock Agreement</U>. When the Committee awards Restricted Stock under the Plan, it shall
prepare (or cause to be prepared) a Restricted Stock Agreement that specifies the
following terms:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the name of the Recipient; </FONT>
</TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the total number of shares of Common Stock subject to the award of Restricted Stock;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the manner in which the Restricted Stock will become nonforfeitable and
transferable and a description of any restrictions applicable to the Restricted Stock; and  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the date as of which the Committee awarded the Restricted Stock. </FONT>
</TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Award Per Year</U>. There is no maximum number of shares that may be awarded as
Restricted Stock to any individual during any one calendar year.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting</U>.
Unless the Committee specifies in the Restricted Stock Agreement that any alternative
vesting schedule shall apply, that other vesting requirements shall apply or that no
vesting requirements shall apply, an award of Restricted Stock shall become vested and
nonforfeitable on the third anniversary of the date of grant and before the third
anniversary of the date of the award, no portion of the Restricted Stock shall be vested.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Vesting Requirements</U>. The Committee may impose any other conditions, restrictions,
forfeitures and contingencies on awards of Restricted Stock. The Committee may designate
a single goal criterion or multiple goal criteria for these purposes.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.5 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accelerated
Vesting</U>. The Committee shall always have the right to accelerate vesting of any
Restricted Stock awarded under this Plan.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the occurrence of the following events, any outstanding Awards of
Restricted Stock that remain subject to vesting requirements shall immediately become vested pursuant to the provisions of subsection
(b) hereof, unless otherwise determined by the Committee and set forth in the applicable Restricted Stock Agreement:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.&nbsp;&nbsp;&nbsp;&nbsp;the
recipient&#146;s death;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp;the Recipient&#146;s Disability; or  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.&nbsp;&nbsp;&nbsp;&nbsp;          a
Change in Control of the Company.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If an outstanding award of Restricted Stock
remains subject only to a time                     based vesting schedule (<U>i.e.,</U> one
that requires only that the Recipient                     remain as a Director or Advisor
for the passage of a specified time period),                     then such Award shall
immediately become fully vested and nonforfeitable upon                     one of the
events in subsection (a) above. If an outstanding award of Restricted
                    Stock remains subject to any other type of vesting schedule or
requirement                     (<U>e.g.,</U> a criteria based schedule), then such award
shall become vested in                     a proportionate amount upon one of the events
in subsection (a) above. The                     proportion shall be calculated as the
ratio of the amount of time completed                     through the date of the
applicable event compared to the original term of the                     Restricted
Stock Agreement.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of Services</U>. Unless the Committee decides otherwise, all shares of Restricted Stock
that remain subject to restriction upon the Recipient&#146;s termination of services to
the Company, other than shares of Restricted Stock accelerated under Section 7.5(b),
shall be forfeited by the Recipient.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.7 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery of Restricted Stock</U>. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Issuance</U>.
Subject to the terms and conditions of the Restricted Stock                Agreement, the
Company shall issue a certificate representing the shares of                Restricted
Stock within a reasonable period of time after execution of the                Restricted
Stock Agreement; provided, if any law or regulation requires the                Company
to take any action (including, but not limited to, the filing of a
               registration statement under the 1933 Act and causing such registration
               statement to become effective) with respect to such shares before the
issuance                thereof, then the date of delivery of the shares shall be
extended for the                period necessary to take such action. As long as any
restrictions apply to the                Restricted Stock, the shares of Restricted Stock
may be held by the Committee in                uncertificated form in a restricted
account.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legend</U>.
Unless the certificate representing shares of the Restricted                Stock are
deposited with a custodian (as described in subparagraph (c) hereof),                each
certificate shall bear the following legend (in addition to any other
               legend required by law):  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The
transferability of this certificate and the shares represented hereby are subject to the
restrictions, terms and conditions (including forfeiture and restrictions against
transfer) contained in the Mastec Inc. 2003 Stock Incentive Plan for Non-Employees and a
Restricted Stock Agreement dated ______, ___ between __________and Mastec, Inc. The Plan
and the Restricted Stock Agreement are on file in the office of the Chief Financial
Officer of Mastec, Inc.&#148; </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such
legend shall be removed or canceled from any certificate evidencing shares of Restricted
Stock as of the date that such shares become nonforfeitable. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deposit
with Custodian</U>. As an alternative to delivering a stock                certificate to
the Recipient, the Committee may deposit or transfer such shares
               electronically to a custodian designated by the Committee. The Committee
shall                cause the custodian to issue a receipt for the shares to the
Recipient for any                Restricted so deposited. The custodian shall hold the
shares and deliver the                same to the Recipient in whose name the Restricted
Stock evidenced thereby are                registered only after such shares become
nonforfeitable.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.
Unless the Committee specifies otherwise in the Restricted Stock Agreement, a Recipient
may not sell, exchange, transfer, pledge, hypothecate or otherwise dispose of shares of
Restricted Stock awarded under this Plan while such shares are still subject to
restriction. Notwithstanding the foregoing, with the approval of the Committee, and in
its sole discretion, a Restricted Stock Agreement may be amended to permit the Recipient
to transfer grants of Restricted Stock under this Plan to such Persons as the Committee
deems appropriate.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.9 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect
of Restricted Stock Award</U>. Upon issuance of the shares of the Restricted Stock, the
Recipient shall have immediate rights of ownership in the shares of Restricted Stock,
including the right to vote the shares and the right to receive dividends with respect to
the shares, notwithstanding any outstanding restrictions on the Restricted Stock.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION 8 &#150;
ADJUSTMENTS UPON CHANGES IN CAPITALIZATION </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Corporate Transactions</U>. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Recapitalization</U>.
If the Company is involved in a corporate transaction           or any other event which
effects the Common Stock (including, without           limitation, any recapitalization,
reclassification, reverse or forward stock           split, stock dividend, extraordinary
cash dividend, split-up, spin-off,           combination or exchange of shares), then the
Committee shall adjust outstanding           Options or awards of Restricted Stock to
preserve the benefits or potential           benefits of the Options as follows:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          The
Committee shall take action to adjust the number and kind of shares of           Common
Stock that are issuable under the Plan;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          The
Committee shall take action to adjust the number and kind of shares of           Common
Stock subject to outstanding Options or awards of Restricted Stock;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          The
Committee shall take action to adjust the Exercise Price of outstanding           Options
or awards of Restricted Stock; and  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          The
Committee shall make any other equitable adjustments.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Only
whole shares of Common Stock shall be issued in making the above adjustments. Further,
the number of shares available under the Plan or the number of shares of Common Stock
subject to any outstanding Options or awards of Restricted Stock shall be the next lower
number of shares, so that fractions are rounded downward. If the Company issues any
rights or warrants to subscribe for additional shares pro rata to holders of outstanding
shares of the class or classes of stock then set aside for the Plan, then each
Participant shall be entitled to the same rights or warrants on the same basis as holders
of outstanding shares with respect to such portion of the Participant&#146;s Option or
awards of Restricted Stock as is exercised on or prior to the record date for determining
shareholders entitled to receive or exercise such rights or warrants.  </FONT></P>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reorganization</U>.
If the Company is part of any reorganization involving           merger, consolidation,
acquisition of the Common Stock or acquisition of the           assets of the Company,
the Committee, in its discretion, may decide that:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          any
or all outstanding Options or awards of Restricted Stock granted under the           Plan
shall pertain to and apply, with appropriate adjustment as determined by           the
Committee, to the securities of the resulting corporation to which a holder           of
the number of shares of the Common Stock subject to each such Option would           have
been entitled;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          any
or all outstanding Options or awards of Restricted Stock granted hereunder
          shall become immediately fully exercisable (to the extent permitted under
          federal or state securities laws); and/or  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 2-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          any
or all Options or awards of Restricted Stock granted hereunder shall become
          immediately fully exercisable (to the extent permitted under federal or state
          securities laws) and shall be terminated after giving at least 30 days&#146;          notice
to the Directors and Advisors to whom such Options or awards of           Restricted
Stock have been granted.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limits
on Adjustments</U>. Any issuance by the Company of stock of any class           other
than the Common Stock, or securities convertible into shares of stock of           any
class, shall not affect, and no adjustment by reason thereof shall be made           with
respect to, the number or price of shares of the Common Stock subject to           any
Option or awards of Restricted Stock , except as specifically provided
          otherwise in this Plan. Grants under the Plan shall not affect in any way the
          right or authority of the Company to make adjustments, reclassifications,
          reorganizations or changes of its capital or business structure or to merge,
          consolidate or dissolve, or to liquidate, sell or transfer all or any part of
          its business or assets. All adjustments the Committee makes under this Plan
          shall be conclusive.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION 9 &#150; PLAN
OPERATION </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Other Laws and Regulations</U>. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distribution
of shares of Common Stock under the Plan shall
be subject to the following:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Notwithstanding
any other provision of the Plan, the Company shall not be           required to issue any
shares of Common Stock under the Plan unless such issuance           complies with all
applicable laws (including, without limitation, the           requirements of the 1933
Act and Section 16 of the 1934 Act) and the applicable           requirements of any
securities exchange or similar entity.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          When
the Plan provides for issuance of Common Stock, the Company may issue           shares of
Common Stock on a noncertificated basis as long as it is not           prohibited by
applicable law or the applicable rules of any stock exchange.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          The
Company may require a Participant to submit evidence that the Participant is
          acquiring shares of Common Stock for investment purposes.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitation
of Implied Rights</U>. The Plan is not a contract of employment or a contract for
continued service as a Director or an Advisor. Neither a Director nor an Advisor selected
as a Participant shall have the right to be retained as a director or an advisor of the
Company or any Related Company and shall not have any right or claim under the Plan,
unless such right or claim has specifically accrued under the terms of the Plan.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Evidence</U>.
Anyone required to give evidence under the Plan may give such evidence by certificate,
affidavit, document or other information which the person acting on the evidence
considers pertinent, reliable and signed, made or presented by the proper party or
parties.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment
and Termination of the Plan and Agreements</U>. The Board may amend, modify or terminate
the Plan at any time. No such amendment, modification or termination shall result in the
Plan as a whole being subject to variable, or other adverse, accounting treatment or
adversely affect, in any way, the rights of individuals who have outstanding Options or
awards of Restricted Stock unless such individuals consent to such amendment or
termination or such amendment or termination is necessary to comply with applicable law.
The Committee may amend any Agreement that it previously has authorized under the Plan if
the amended Agreement is signed by the Company and the applicable Participant.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.5 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Gender
and Number; Headings</U>. Words in any gender shall include any other gender, words in
the singular shall include the plural and the plural shall include the singular. The
headings in this Plan are for convenience of reference. Headings are not a part of the
Plan and shall not be considered in the construction hereof.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
References</U>. Any reference in this Plan to a provision of law which is later revised,
modified, finalized or redesignated, shall automatically be considered a reference to
such revised, modified, finalized or redesignated provision of law.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.7 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
In order for a Director or Advisor or other individual to give notice or other
communication to the Committee, the notice or other communication shall be in the form
specified by the Committee and delivered to the location designated by the Committee in
its sole discretion.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>.  The Plan is governed by and shall be construed in accordance with the laws of the
State of Florida. </FONT></P></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ADOPTED BY BOARD OF
DIRECTORS ON OCTOBER 16, 2003 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TO BE APPROVED BY
SHAREHOLDERS ON DECEMBER 10, 2003 </FONT></P>


<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 4; page: 4" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>
<p align=center>&nbsp;</p>

<div align="center">
  <center>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border-collapse: collapse" WIDTH="600">
 <tr>
  <TD WIDTH="331" VALIGN="TOP">
  <p><font face="Arial" size="6"><b>MasTec</b></font></p>
  <p><font face="Arial"><b><i>&nbsp;3155 NW 77<sup>th</sup> AVENUE<br>
  MIAMI, FL 33122</i></b></font></p>
  </td>
  <TD WIDTH="307" VALIGN="TOP">
  <p align="justify"><font face="Arial" size="1"><b>VOTE BY INTERNET - <u>www.proxyvote.com </u></b>
  </font><br>
  <font face="Arial" size="1">Use the Internet to transmit
  your voting instructions and for electronic delivery of information up until
  11:59 P.M. Eastern Time the day before the cut-off date or meeting date.&nbsp; Have your proxy card in hand when you
  access the web site. &nbsp; </font></p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p align="justify"><font face="Arial" size="1"><b>VOTE BY PHONE - 1-800-690-6903</b><br>
  Use any touch-tone telephone to
  transmit your voting instructions up until 11:59 P.M. Eastern Time the day
  before the cut-off date or meeting date.&nbsp;
  Have your proxy card in hand when you call. &nbsp; </font></p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p align="justify"><font face="Arial" size="1"><b>VOTE BY MAIL -<br>
  </b>Mark, sign, and date your proxy
  card and return it in the postage-paid envelope we have provided or return it
  to MasTec, Inc., c/o ADP, 51 Mercedes Way, Edgewood, NY&nbsp; 11717.</font></p>
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p>&nbsp;</p>
  </td>
 </tr>
</table>

  </center>
</div>

<p>&nbsp;</p>



<p>&nbsp;</p>

<div align="center">
  <center>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border-collapse: collapse" WIDTH="600">
 <tr>
  <td width=413 colspan=9 valign=top>
  <p><font face="Arial" size="1">TO VOTE, MARK BLOCKS IN BLUE OR BLACK INK</font></p>
  </td>
  <td width=86 colspan=2 valign=top>
  <p><font face="Arial" size="1">MASTEC</font></p>
  </td>
  <td width=235 colspan=8 valign=bottom>
  <p><font face="Arial" size="1">KEEP THIS PORTION FOR YOUR RECORDS</font></p>
  </td>
 </tr>
 <tr>
  <td width=79 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>.</b></font></p>
  </td>
  <td width=420 colspan=9>
  <p align=center><b><font face="Arial" size="1">THIS
  PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED</font></b></p>
  </td>
  <td width=235 colspan=8 valign=top>
  <p><font face="Arial" size="1">DETACH AND RETURN THIS PORTION ONLY</font></p>
  </td>
 </tr>
 <tr>
  <td width=499 colspan=11 style="border-left-style: solid; border-left-width: 1; border-right-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-width: 1">
  <p><font face="Arial" size="2"><b>MasTec, Inc.</b></font></p>
  </td>
  <td width=156 colspan=4 valign=top style="border-left-width: 1; border-right-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=60 colspan=3 valign=top style="border-left-width: 1; border-right-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=19 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=499 colspan=11 valign=top style="border-left-style: solid; border-left-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=156 colspan=4 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=60 colspan=3 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=19 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=357 colspan=6 valign=top style="border-left-style: solid; border-left-width: 1">
  <P ALIGN="Justify"><font face="Arial" size="1">(1)&nbsp;&nbsp;&nbsp;&nbsp; Approve the adoption of the MasTec, Inc.
Amended and Restated 2003 Stock Incentive Plan for Non-Employees, as more fully described in the Proxy Statement.
The Board of Directors recommends a vote <U>FOR</U> the Amended and Restated 2003 Stock Incentive Plan for Non-Employees.
  </font></p>
  <p>&nbsp;</p>
  </td>
  <td width=36 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>For</b><br>
&nbsp;</font></p>
  <p align="center"><font size="2" face="Wingdings">o</font></p>
  <p align="center"><b><font face="Arial" size="1">&nbsp;</font></b></p>
  </td>

  <td width=59 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>Against</b><br>
&nbsp;</font></p>
  <p align="center"><font size="2" face="Wingdings">o</font></p>
  <p align="center"><font face="Arial" size="1">&nbsp;</font></p>
  </td>

  <td width=48 valign=top>
  <p align="center"><font face="Arial" size="1"><b>Abstain</b><BR>&nbsp;</font></p>
  <p align="center"><font size="2" face="Wingdings">o</font></p>
  </td>
  <td width=216 colspan=7 valign=top>
  <p><font face="Arial" size="1">&nbsp;</font></p>
  <p><font face="Arial" size="1">&nbsp;</font></p>
  </td>
  <td width=19 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=583 colspan=12 valign=top style="border-left-style: solid; border-left-width: 1">
  <p><font face="Arial" size="1">&nbsp;</font></p>
  </td>
  <td width=36 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>&nbsp;<br></b></font>
  <font size="2" face="Wingdings">&nbsp;</font></p>
  </td>
  <td width=60 colspan=3 valign=top>
  <p align=center><font face="Arial" size="1"><b>&nbsp;<br></b></font>
  <font size="2" face="Wingdings">&nbsp;</font></p>
  </td>
  <td width=55 colspan=2 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p align=center><font face="Arial" size="1"><b>&nbsp;<br></b></font>
  <font size="2" face="Wingdings">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <P ALIGN="Justify"><font face="Arial" size="1">(2)&nbsp;&nbsp;&nbsp;&nbsp; In the Proxies' discretion, upon any other business that may properly be presented at the Special Meeting or any adjournments or postponements thereof.&nbsp; </font> </p>
  </td>
 </tr>
 <tr>
  <td width=583 colspan=12 valign=top style="border-left-style: solid; border-left-width: 1">
  <p><font face="Arial" size="1">&nbsp;</font></p>
  </td>
  <td width=36 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>&nbsp;<br></b></font>
  <font size="2" face="Wingdings">&nbsp;</font></p>
  </td>
  <td width=60 colspan=3 valign=top>
  <p align=center><font face="Arial" size="1"><b>&nbsp;<br></b></font>
  <font size="2" face="Wingdings">&nbsp;</font></p>
  </td>
  <td width=55 colspan=2 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p align=center><font face="Arial" size="1"><b>&nbsp;<br></b></font>
  <font size="2" face="Wingdings">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=617 colspan=13 valign=top style="border-left-style: solid; border-left-width: 1">

  </td>
  <td width=118 colspan=6 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=355 colspan=5 valign=top style="border-left-style: solid; border-left-width: 1">
  <P ALIGN="Justify"><font face="Arial" size="1">&nbsp;&nbsp;&nbsp; Receipt of the Notice and  Proxy Statement for the Special Meeting of Shareholders.</font></p>
  </td>
  <td width=144 colspan=6 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=235 colspan=8 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=355 colspan=5 valign=top style="border-left-style: solid; border-left-width: 1">
  <P ALIGN="Justify"><font face="Arial" size="1">&nbsp;&nbsp;&nbsp; (Please sign exactly as your  name or names appear on this proxy.&nbsp;  When signing as executor, guardian, trustee, joint owners, agent,  authorized representative or a corporate owner, or other representative,  please give your full title as such.)</font></p>
  </td>
  <td width=144 colspan=6 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=235 colspan=8 valign=top style="border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=228 colspan=2 valign=top style="border-style: solid; border-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=98 valign=top style="border-style: solid; border-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=22 colspan=3 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=216 colspan=5 valign=top style="border-style: solid; border-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=88 colspan=4 valign=top style="border-style: solid; border-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=63 colspan=3 valign=top style="border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style="border-left-style: solid; border-left-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=228 colspan=2 style="border-top-style: solid; border-top-width: 1">
  <p><font face="Arial" size="1">Signature<BR> [PLEASE SIGN WITHIN BOX]</font></p>
  </td>
  <td width=98 style="border-top-style: solid; border-top-width: 1">
  <p><font face="Arial" size="1">Date</font></p>
  </td>
  <td width=22 colspan=3 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=216 colspan=5 style="border-top-style: solid; border-top-width: 1">
  <p><font face="Arial" size="1">Signature (Joint Owners)</font></p>
  </td>
  <td width=88 colspan=4 style="border-top-style: solid; border-top-width: 1">
  <p><font face="Arial" size="1">Date</font></p>
  </td>
  <td width=63 colspan=3 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr height=0>
  <TD WIDTH="19" STYLE="border-left-style: solid; border-left-width: 1; border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="60" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="168" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="98" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="10" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="1"></td>
  <TD WIDTH="11" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="25" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="21" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="38" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="48" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="84" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="34" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="2" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="36" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="16" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="8" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="36" STYLE="border-bottom-style: solid; border-bottom-width: 1"></td>
  <TD WIDTH="19" STYLE="border-right-style: solid; border-right-width: 1; border-bottom-style: solid; border-bottom-width: 1"></td>
 </tr>
</table>

  </center>
</div>

</div><font face="Arial"><br clear=all>


</font>


<div>

<p>&nbsp;</p>

<p>&nbsp;</p>

<div align="center">
  <center>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="600" STYLE="border-collapse: collapse; border-style: solid; border-width: 1; padding-left: 4; padding-right: 4; padding-top: 1; padding-bottom: 1">
 <tr>
  <TD WIDTH="734" VALIGN="TOP">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 valign=top>
  <p align=center><font face="Arial" size="2"><b>&nbsp;</b></font></p>
  <p align=center><font face="Arial" size="2"><b>PROXY FOR 2003 SPECIAL MEETING OF SHAREHOLDERS<br>
  SOLICITED BY THE BOARD OF DIRECTORS OF MASTEC, INC.</b></font></p>
  <p align=center><font face="Arial" size="2"><b>&nbsp;</b></font></p>
  </td>
 </tr>
 <tr>
  <td width=734 valign=top>
  <p align="justify"><font face="Arial" size="2">The undersigned hereby
  constitutes and appoints Donald P. Weinstein and Cristina Canales (the
  &quot;Proxies&quot;), or any one of them, with full power of substitution,
  attorneys and proxies for the undersigned, to vote all shares of common stock
  of MasTec, Inc. (&quot;MasTec&quot;) that the undersigned would be entitled
  to vote at the Special Meeting of Shareholders to be held at MasTec's
  corporate offices, 3155 N.W. 77<sup>th</sup> Avenue, Miami, Florida 33122, at
  9:30 a.m. on Wednesday, December 10, 2003, or any adjournments or postponements
  thereof, on all matters properly coming before the Special Meeting, including,
  but not limited to, the matters stated on the reverse side.</font></p>
  <p align="justify"><font face="Arial" size="2">If shares of MasTec common stock
  are issued to or held for the account of the undersigned under the MasTec
  401(k) Retirement Plan (the &quot;401(k) Plan&quot;), then the undersigned
  hereby directs the Trustee of the 401(k) Plan to vote all shares of MasTec
  common stock in the undersigned's name and/or account under the 401(k) Plan
  in accordance with the instructions given herein, at the Special Meeting and
  at any adjournments or postponements thereof, on all matters properly coming
  before the Special Meeting, including, but not limited to, the matters stated
  on the reverse side.</font></p>
  <p align="justify"><font face="Arial" size="2"><b>ANY PROPER PROXY RECEIVED BY
  MASTEC AS TO WHICH NO CHOICE HAS BEEN INDICATED WILL BE VOTED BY THE PROXIES
  &quot;FOR&quot; PROPOSAL NUMBER 1 SET FORTH ON THE REVERSE SIDE AND IN THE PROXIES&#146; DISCRETION
  ON ANY OTHER MATTER PROPERLY BROUGHT BEFORE THE SPECIAL MEETING.&nbsp; YOUR PROXY CANNOT BE VOTED UNLESS YOU SIGN,
  DATE AND RETURN THIS CARD OR FOLLOW THE INSTRUCTIONS FOR INTERNET OR
  TELEPHONE VOTING SET FORTH ON THE REVERSE SIDE.</b></font></p>
  <p align=center><font face="Arial" size="2">(Continued
  and to be signed on reverse)</font></p>
  <p align=center>&nbsp;</p>
  </td>
 </tr>
</table>

  </center>
</div>

<p>&nbsp;</p>

<p align=center>&nbsp;</p>

<p>&nbsp;</p>

</div>

</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>masteclogo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 masteclogo.jpg
M_]C_X``02D9)1@`!`0$3B!.(``#_VP!#``,"`@,"`@,#`P,$`P,$!0@%!00$
M!0H'!P8(#`H,#`L*"PL-#A(0#0X1#@L+$!80$1,4%145#`\7&!84&!(4%13_
MVP!#`0,$!`4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P``1"``A`)P#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#]4.N:`,=L
M56U"]BTVPN;N4$Q01M*X49.%&3C\J\L^#7[3'A+XY:[K.D^'H=2BNM+0/.;V
M!44@L5^4AVSR/:M84*DX2G&+<5N^US"=:G3G&$I6;V7<\^\=?MZ>#_`'Q%U/
MPC?:#K4U[878M)+B$0^46X^89<''/I7I_P`;/CYX=^!O@NU\1ZL+B^M[J9(;
M6'3U#M.S#=PQ(4#;ELD\@<<D5^?OQ4\"Q^/?VBOC9!]BN;^\T^TN;^S@M0S.
M9D>$#Y5Y;AFXK0B^(=S^T)'\!OAU90KJ46G-#'J>E,`/EMLJS%FV@@VR.V`3
MZ<FON7DF&G&C4A?E23GKTM>_EU1\4LXQ,'5IRMS-M1TZWM\S[<_9Z_::T+]H
MO^WO[%TS4--_L@P>;]O6/Y_-\S;MV,>GE'.?45[(.`*^%_\`@F=$EOJ7Q6CC
M4*B3V*JH[`-=8%?47QP^..@_`;P:VO:[YLS2/Y-I:0*2]S-@D(#C"\`DD]`#
MU.`?G,RP4:./EA<,FUI9;O5)_J?0Y=C'4P,<3B)+K=[;-H]&R>/2@^W6OB/4
MOBQ^U)XUNSKW@_P6VF>%[L++9VEZ+0S*F,')D96Y()&5'!%>T?L__M1:7\<-
M5U70)](O?#7BG3%,EQI-\"9`BL$9L[5VE6905(!^;H<&L:^65J%/VEU)+>S3
M:];;&E',J-:HJ=G%O:ZLGZ'N@QZ45@>.?&%C\/\`PCJWB+4A*]AIMN]S,L"A
MG**,G:"1D_C7R+=?M$_'GXT:;9>(/A1X)^P:%F2*62ZGM;CS74@'&\H1CGMW
MK'"X"MBHN<6E%:-MV5^WJ;8G'4L+)0DFY/6R5W;N?;)XQZ5\N?$3]O\`\'_#
M?QOK7AB^\/:Y<W>E7+6TDT`A\MV'=<N#CZBM[X!?M86/Q0\1R^"?$&EW7A[Q
MS9*8Y;2;#I<-&@,K*R@!>0QVGC&,$YKVB\\$^'=0N)+FZT'3;BXD^9Y9K.-G
M8^I)7)K6%.G@JSAC:;EIHD[?.ZW1E.K4QE%3P=11UU;5_E9[,^5A_P`%-?`@
M/'A?Q#_WS!_\<KV/]GS]IC0OVBEUQM%TO4=.&E&`2_;Q'\_F[\;=C'IY9SGU
M%?+?[&?A_2]4_:.^)MK>Z;9W=M#<W`CAF@5T3]_*.`1@=!TK[UTKP[I6@B7^
MS=.M-.\S'F?985CWXSC.T#.,G\Z]3.*."PDO84:;4K)I\U]]=CSLJJXW%+VU
M6HG&[35NVFYI@`YI.!7RU\4OVM-5N_&&L^`/A5X9O?%'BFS!BDU&`*;>TF#8
M8,&&"`<J68J-W'/!/'^'/VK?B=\&]6M[+XX^$KN&SU"5$M]3M$A$5N/FSGR\
MJYZ?+N!`!->=#*<34@I)*[U46US-=TCOGFF&A-Q;=EHW;1/LV?:_;I2#BJ>F
M:E;:UIMI?V4R7-G=1)/#-&<K(C`,K#V((->,?'K]J32?@UK.G>&[/2+[Q3XN
MU)0\&DV"D/L8E58MM.22K`*`3\ISCC/G4</4KU/9TU>7];]COJXBE0I^UJ2M
M$]R!)ZC`HP37Q+IO[0WQY^#LLFO?%OP9/=^$6"P&73UME-L[.N)',9;C&X8;
M:"649R17UQX#\>:/\1?"6G>(]$N#<Z7?H9(9'4HW#%6!#<@AE8>G'&1S75B<
M#6PJ4W:47I=.ZOVOW.?#8VEB6X*Z:ULU9V[^AX=^U/\`&GQE\./%'A'P_P"'
M]*M;[2M>\R#49YK665X4+QH2K(X"G:['+`]*\I^(6C6_[&A7Q!\(I3XHU77Y
MWMM2M]4<7J0QK\ZE5@\ME.XD98FOMS6-/_M72;RS#>6;B%X@Y&=NY2,_K7S_
M`/LR_LIWOP"\7>)M8NO$$&LIJT8C2**V,1CQ(7R26.>N*]'"XNA"A:2MR[QU
MM/U[6//Q&$K3JWB[\VSZPTZ=[F3^S]\+="\3W$_Q2N;^6'Q]XITJ4:CI7G(M
MO;M(0&VP[?,0#8OWF/4U\_\`[%_P1U+0?VF]5_M)I[=O"`O469;=A#>/E[4[
M6;&!B0N#CG`XYKU?X->#/$&F_MU_$'6[K0M2M=&N+>X$.HS6<B6\I+0X"R$;
M3G!Z'L:^R6`,;8X)%=6(Q]3!\]*$N958K_MU/[/R6AR4,##%J%64>5TY/_MY
M]_F]3X=_X)H_\ACXM?\`7Q8_^A7=>R?MF:S\.="^&UK=_$709O$D*7?_`!+-
M.@GE@,ER48#+QLNT!=Q))/`.`3@5YG_P3S\&>(?".J_$]M<T+4]%6ZGLS;G4
M;.2`3`-=9*;P-V-RYQZCUKJ?V[_@;XA^+?@C3+SPM9OJ>IZ5/YDMDL^TR0D$
M$HA^5G!(/4'`.,G`.F)=*KG5YSM&ZU3M]E=>A.']K3R?W(WDKZ-7ZOIU+/P[
M^-WQ8\5^#-,U#P_\&K/^Q'A"6HG\2I$X1?E&0\>[MWZUX_\`L>W>H7W[9WQ/
MGU;3TTW4Y;.^>XLDF$RP2&\@W('``8`Y&>]=Q9_M/_$B;P;;^&]!^#/BFR\1
MBU%C;7MW;L+>.54"K(Q>,+MR.A8#WKCOV*/A_P"//"_[2?C*_P#&FD:I%<S:
M9=1SZK=6TBV]S.;J`DI*5"ONPQ&.H!-;^S5+#XERC&%UHD[MZ^K.5S=3$891
ME*5GJVDDM/1'V!\9/!=W\1?A;XG\,V$T,%[JEC+:Q27!(C5F&`6P"<?05\9>
M!?B=\4_V,/"%EX/\0_#F'7+6XDENK*6QOB74%AO#F-9!U88^[QGK7U=^T=HW
MCG6_A??1?#N_EL/$L4J31M!(J/*BYW1J6X!/'7`KP3P!^U!\5/`_AM="\;?"
M;Q;XFU^P=X7U*VLW*38.!\R1LK'&?G!(/XUP9;SO#2CRQG!RNXN5G>VZ=UH>
MCF'(L0I7E"26DDKJU]FNY/\`LX?$WX+_`!*^,[:GI/A#4?#GQ)N8Y9))+N>>
M1&;R\3!1YA08`(Y53[`U]CMRIQZ5\/?!7X5>,?B%^U%/\6[_`,'W?@7PW.//
MCM+N00SEUB$17RP`WS.A9MRKD-GG-?<+#Y37)FT*4*\?92O[JNK\W*^U_(ZL
MJG5G0DZD;:NSM:Z[V\SX(_8B_P"3FOBG_P!?-Q_Z42U]T:_?2:9HFH7<04RV
M]O)*H;H2JDC/Y5\8_L=^"/$?AW]HGXE:AJGA_5=,L+JXG,%U>6<D44H,\A!5
MF4!L@@\>M?;4L2SQ/&X#HP*L&&00>U;YW4A/&*2=URQ_(SR:$HX1IZ.\OS/S
M+_8]\?\`C>\^+7CGQ)X:\(VGBG6=622[O;=M16RBA\R?S&*EPV1N.`,]*]D_
M:.\&?&?]H?PC9:)/\,;#1);6\6[2[7Q%%,<!&4IMPHYW`Y_V?>L%?AI\2?V5
M/CGXC\;>'O"\GB_P;JLTTDUIHR#SEBED+)$(\%E*.R\JI&U<\#ITGB']HSXZ
M?$K5=+T_X??#+6/"4J>8][-KUF/*="4"E6E1`"OS$@$DYZ<5[M>I*IB88K"Q
MA:RLW*UK+9JZ_(\"A!0H2PV)<E*[NDKWN]T[?J?47PKT6]\-_#3PII&I1B&_
ML-*M;6X16#`2)"JL`1P>0>17QK96=Q\3_P#@HI>1:M?.(_#7[VQ"(J_)"%=8
MC@<C=,YR>>>M?<7AZ+48-`TV/5YHKG54MHEO)H5VI),$'F,H[`MD@5\?_M5?
M`GQKX>^*MA\7_AK9+<WELB/?6-G&3.\B,292F?WH92JE0,_(.#GCP<JJP]O5
MA.2C*<9)/I=_YGNYG2FJ%)PBY1@TVNK2_P`CZS\<^!M%^(_A>\\/>(K+^T=&
MO-@GMO->+?M<.OS(RL,,JG@]J=X)\#:)\/O#%EX?\/V0L-'L@RV]N9'DV!F+
MGYG)8_,Q/)/6ODKQU^T#\9_B_IEOX:\"?#7Q+X)U6XN$,NK:A$8T2$9R`[QJ
M%YVDD$G`(`.:^H?A1H/B#PO\/=&TSQ7K!\0>(8(V^UZ@3M\QB[,![[00N>^V
MN#$8>MA:"52HM7\*=^F^EUY=SMPV(I8JLW3IO1?$U;KMKJ=K2#I117F'JHC7
M[YI_:BBJ>Y$-AL70TYNAHHI/<(?`1#M3UZT451C'<>?NU"_W:**42ZFP^/[J
MT\]***G[3-(_"B./[QJ6BBFR:>Q'-]VFIVHHI]")?&2GJ*23[IHHJ5N;/8C7
+[]2BBBG(BGL?_]D_
`
end

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
