CORAL GABLES, Fla., May 3, 2011 /PRNewswire via COMTEX/

MasTec, Inc. (NYSE: MTZ) today announced that it exercised its option to merge the remaining 67% ownership interest of EC Source Services LLC (ECS) into MasTec's existing operations. EC Source, founded by Martin J. Maslonka, is a nationally recognized full-service engineering, procurement and construction program management entity focused on deploying extra high voltage (EHV) electrical transmission systems throughoutNorth America.

Terms of the transaction call for the issuance of 5,129,644 shares of MasTec common stock, the assumption of approximately $8.6 million in debt, plus a 5-year contingent earn-out equal to 20% of the excess of ECS's annual EBITDA over $15 million. The shares of MasTec common stock are subject to a three-year lockup that expires 25% on each of the first and second anniversaries of the closing and 50% on the third anniversary of the closing. MasTec previously announced in November 2010 that it purchased for $10 million in cash a 33% ownership interest in ECS together with an option to acquire the remainder of the outstanding equity in ECS, which it exercised on April 29, 2011. EC Source's cash at closing was approximately $8.7 million.

Mr. Jose Mas, MasTec's Chief Executive Officer commented, "The merger of EC Source with our existing operations should be a growth driver for MasTec, as it will provide us with an excellent platform by which to expand our EHV transmission and substation capabilities. We are thrilled to have the EC Source team join MasTec and to have Martin Maslonka head of our energy transmission services."

Mr. Mas continued, "With EC Source's substantial backlog, which includes the recently awarded PacifiCorp contract, and the robust bidding environment we are currently experiencing, we expect significant growth opportunities in this business."

Martin Maslonka added, "Bringing the combined resources of a well managed and solidly capitalized company such as MasTec and the industry leading technical resources of ECS to respond to the robust demand for new electrical transmission infrastructure should deliver immediate and ongoing benefits to our clients and the electrical transmission industry in general."

MasTec, Inc. is a leading infrastructure construction company operating mainly throughout North Americaacross a range of industries. The Company's activities include the building, installation, maintenance and upgrade of energy, communication and utility infrastructure, including but not limited to: electrical utility transmission and distribution, wind farms, solar farms, other renewable energy, natural gas and petroleum pipeline infrastructure, wireless, wireline, satellite communication, industrial infrastructure and water and sewer systems. MasTec's customers are in the following industries: utilities (including wind farms, solar farms and other renewable energy, natural gas gathering systems and pipeline infrastructure), communications (including wired and wireless telephony and satellite television) and government (including water, sewer and other utility and communications work on military bases). The Company's corporate website is located at www.mastec.com.