WMI Reports Year-end and Fourth Quarter Results

Houston -- Waste Management Inc. has announced fourth quarter financial results and results from the year ended Dec. 31, 2002. Revenues for the quarter were $2.91 billion compared with $2.79 billion one year ago. Net income for the quarter was $236 million or 39 cents per diluted share compared with $158 million or 25 cents per diluted share for the fourth quarter 2001.

For the full year 2002, Waste Management reported operating revenues of $11.14 billion compared with $11.32 billion in 2001. Net income for the year 2002 was $822 million compared with $503 million from 2001. For complete results, visit Waste Management’s Web site, www.wm.com.