Metaz 01% Ointment typically contains mometasone furoate, a corticosteroid used to treat a variety of skin conditions such as eczema, dermatitis, allergies, and rash. The 01% concentration indicates that the ointment contains 1 mg of mometasone furoate per gram of the ointment. Mometasone furoate works by reducing inflammation, redness, and swelling associated with certain skin conditions. It helps to suppress the immune response in the skin that causes these symptoms.