<B>WMI Reports Quarterly Numbers</B>

Waste Management, Inc. announced financial results for its third quarter. Revenues for the quarter were $3.12 billion as compared to $3.40 billion in the year ago period. The company reported net loss of $190.8 million for the period, compared with a loss of $947.8 million for the third quarter 1999. On a pro forma basis, after adjusting for unusual costs and certain other items discussed below, third quarter 2000 net income was $207.6 million, or $0.33 per diluted share.

For the nine months ended September 30 Waste Management reported operating revenues of $9.61 billion as compared to $9.79 billion for the comparable period last year. Net loss was $135.5 million for the nine months ended September 30 compared to losses of $282.8 million and $0.46, respectively, for the same period in 1999.

The company further noted that important highlights of the quarter's results include:

Operating cash flow of $560.3 million and adjusted free cash flow of $388.4 million

North American solid waste revenues increased 4.2% to $2.874 billion from $2.758 billion in the third quarter 1999

Internal growth of 3.0% in the North American solid waste business, with 1.7%, or $47.4 million, in volume growth

Price growth in the quarter of 1.3%, or $35.1 million, including fuel surcharges of $16.3 million and improved commodity prices of $3.4 million

Pro forma EBITDA of $895.8 million, or 28.7% as a percent of revenues