Waste Management Announces Pricing of $600 Million Senior Notes

HOUSTON--(Business Wire)--
Waste Management, Inc. (NYSE: WM) announced today that it has priced an
underwritten public offering of $600 million aggregate principal amount of
6.125% senior notes due November 30, 2039 under a shelf registration statement
previously filed with the Securities and Exchange Commission. The notes will be
fully and unconditionally guaranteed by the Company`s wholly-owned subsidiary,
Waste Management Holdings, Inc. The notes are expected to be assigned ratings of
BBB by both Standard & Poor`s and Fitch and Baa3 by Moody`s. The offering is
expected to close on November 17, 2009.

The Company plans to use a portion of the net proceeds to fund certain equity
investments and acquisitions and all remaining proceeds will be used for general
corporate purposes, including additions to working capital, capital expenditures
and the funding of other potential acquisitions and investments in businesses.

BNP Paribas Securities Corp., J.P. Morgan Securities Inc., Scotia Capital (USA)
Inc., and Wells Fargo Securities, LLC. acted as joint book-running and joint
lead managers of the offering. In addition, Calyon Securities (USA) Inc.,
Citigroup Global Markets Inc., Comerica Securities, Inc., Daiwa Securities
America Inc., Goldman Sachs & Co., Mitsubishi UFJ Securities (USA), Inc., Mizuho
Securities, Inc., Morgan Keegan & Company, Inc., SunTrust Capital Markets, Inc.,
and U.S. Bancorp Investments, Inc. acted as co-managers of the offering. Copies
of the final prospectus supplement and related prospectus for this offering may
be obtained by visiting EDGAR on the SEC website at www.sec.gov or, upon
request, from any of the joint book-running and joint lead managers at: BNP
Paribas Securities Corp., 787 Seventh Avenue, New York, New York, 10019, or call
1-212-841-3000; J.P. Morgan Securities Inc, 270 Park Avenue, New York, New York,
10017, or call 1-212-834-4533; Scotia Capital (USA) Inc., One Liberty Plaza, New
York, New York 10006, or call 1-212-233-6459, or Wells Fargo Securities, LLC.,
301 South College Street, Charlotte, North Carolina, 28288, or call
1-800-922-4684.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy the notes described herein, nor shall there be any sale of these
notes in any state in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction.The notes will be offered only by means of a prospectus, including
the prospectus supplement relating to the notes, meeting the requirements of
Section 10 of the Securities Act of 1933, as amended.

About Waste Management

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.

This press release may contain forward-looking statements.The Company, from time
to time, provides estimates of financial and other data, comments on
expectations relating to future periods and makes statements of opinion, view or
belief about current and future events.Statements relating to future events and
performance are "forward-looking statements."The forward-looking statements that
the Company makes are the Company`s expectations, opinion, view or belief at the
point in time of issuance but may change at some future point in time.By issuing
estimates or making statements based on current expectations, opinions, views or
beliefs, the Company has no obligation, and is not undertaking any obligation,
to update such estimates or statements or to provide any other information
relating to such estimates or statements.Information regarding factors that
could materially affect results and the accuracy of any forward-looking
statements made by the Companymay be found in Part I, Item 1 of the Company`s
Annual Report on Form 10-K for the year ended December 31, 2008 and in
subsequent reports filed with the Securities and Exchange Commission under the
Securities Exchange Act of 1934, as amended. We caution you not to place undue
reliance on any forward-looking statements, which speak only as of their dates.

Waste Management, Inc.
Analysts:
Jim Alderson, 713-394-2281
or
Media:
Lynn Brown, 713-394-5093
http://www.wm.com

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