Waste Management Announces President of Wheelabrator Technologies Inc.

March 7, 2006 at 6:07 PM EST

HOUSTON--(BUSINESS WIRE)--March 7, 2006--Waste Management, Inc. (NYSE:WMI) today announced Mark A. Weidman as the new president of Wheelabrator Technologies Inc., a wholly-owned subsidiary of the company. He succeeds Drennan Lowell, who is retiring.

"As vice president of operations at Wheelabrator since 2001, Mark has been instrumental in setting and achieving the goals that ensured continuous improvement in all areas of the operation. He also has been instrumental in helping attain OSHA Voluntary Protection Program status for 17 facilities," said Larry O'Donnell, president and chief operating officer of Waste Management. "In his new position, Mark will undoubtedly keep Wheelabrator on the fast track to excellence."

Prior to joining Wheelabrator as its vice president of operations, Weidman served as the president & chief operating officer of the processing division at Synagro Technologies, Inc., a Houston based residuals management company. Prior to that, he worked for Wheelabrator/Bio Gro for eleven years, where he was appointed president in 1996. Weidman also worked in industrial and municipal water and wastewater treatment operations and design, and hazardous waste management for nine years. He is a graduate of Penn State University and a registered professional engineer.

Based in Hampton, New Hampshire, Wheelabrator is a wholly-owned subsidiary of Waste Management that owns or operates 17 waste-to-energy facilities and six independent power production plants. Wheelabrator's facilities generate enough renewable energy to power 600,000 homes each year.

Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the Company provides collection, transfer, recycling and resource recovery, and disposal services. It is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. The Company's customers include residential, commercial, industrial, and municipal customers throughout North America.

Certain statements contained in this press release include statements that are "forward-looking statements." Outlined below are some of the risks that the Company faces and that could affect our financial statements for 2006 and beyond and that could cause actual results to be materially different from those that may be set forth in forward-looking statements made by the Company. However, they are not the only risks that the Company faces. There may be additional risks that we do not presently know or that we currently believe are immaterial which could also impair our business. We caution you not to place undue reliance on these forward-looking statements, which speak only as of their dates. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, the Company, from time to time, provides estimates of financial and other data relating to future periods. Such estimates and other information are the Company's expectations at the point in time of issuance but may change at some future point in time. By issuing such estimates the Company has no obligation, and is not undertaking any obligation, to update such estimates or provide any other information relating to such estimates. The following are some of the risks we face:

    --  competition may negatively affect our profitability or cash
        flows, our price increases may have negative effects on
        volumes and price roll-backs and lower than average pricing to
        retain and attract customers may negatively affect our yield
        on base business;

    --  we may be unable to maintain or expand margins as volumes
        increase if we are unable to control variable costs or fixed
        cost base increases;

    --  we may be unable to attract or retain qualified personnel,
        including licensed commercial drivers and truck maintenance
        professionals, due to any number of factors including
        qualified workforce shortages;

    --  we may not be able to successfully execute our continue our
        plans and programs such as pricing increases, passing on
        increased costs to our customers, divesting of
        under-performing assets and purchasing accretive businesses,
        any of which could negatively affect our revenues and margins;

    --  fuel price increases or fuel supply shortages may increase our

    --  fluctuating commodity prices may have negative effects on our
        operating revenues and expenses;

    --  inflation and resulting higher interest rates may have
        negative effects on the economy, which could result in
        decreases in volumes of waste generated and increases in our
        financing and operating costs;

    --  the possible inability of our insurers to meet their
        obligations may cause our expenses to increase;

    --  weather conditions cause our quarter to quarter results to
        fluctuate, and extremely harsh weather or natural disasters
        may cause us to shut down operations;

    --  possible changes in our estimates of site remediation
        requirements, final capping, closure and post-closure
        obligations, compliance and regulatory developments may
        increase our expenses;

    --  regulations may negatively impact our business by, among other
        things, increasing the cost to comply with regulatory
        requirements and the potential liabilities associated with
        disposal operations;

    --  if we are unable to obtain and maintain permits needed to
        operate our facilities our results of operations will be
        negatively impacted;

    --  limitations or bans on disposal or transportation of
        out-of-state or cross-border waste or certain categories of
        waste can increase our expenses;

    --  possible charges as a result of shut-down operations,
        uncompleted development or expansion projects or other events
        may negatively affect earnings;

    --  trends toward requiring recycling, waste reduction at the
        source and prohibiting the disposal of certain types of wastes
        could have negative effects on volumes of waste going to
        landfills and waste-to-energy facilities, which are higher
        margin businesses than recycling;

    --  management's attention may be diverted and operating expenses
        may increase due to efforts by labor unions to organize our

    --  negative outcomes of litigation or threatened litigation may
        increase our costs;

    --  possible errors or problems in connection with the
        implementation and deployment of new information technology
        systems may decrease our efficiencies and increase our costs
        to operate;

    --  the adoption of new accounting standards or interpretations
        may cause fluctuations in quarterly results of operations or
        adversely impact our results of operations; and

    --  the reduction or elimination of our dividend or share
        repurchase program or the need for additional capital if cash
        flows are less than we expect or capital expenditures are more
        than we expect, and the possibility that we cannot obtain
        additional capital on acceptable terms if needed.

Additional information regarding these and/or other factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in Part I, Item 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2005.
CONTACT: Waste Management, Inc., Houston
             Greg Nikkel, 713-265-1358
             Lynn Brown, 713-394-5093

SOURCE: Waste Management, Inc.