Waste Management Expands Relationship with NASCAR

HOUSTON--Nov. 8, 2004--Waste Management Inc. , a proud sponsor of NASCAR, announced today that during the 2005 season, it will sponsor the No. 17 Waste Management Ford Taurus driven by Matt Kenseth in the NASCAR Busch Series, as well as Kenseth's No. 17 NASCAR NEXTEL Cup Series car as an associate sponsor. Waste Management will also support NASCAR in its continued commitment to diversity, through several different initiatives. To begin with, Waste Management will sponsor driver Bill Lester's No. 22 Toyota Tundra in the NASCAR Craftsman Truck Series for the balance of 2004 and throughout 2005. Additionally, Waste Management will support an entry in the NASCAR Dodge Weekly Series as part of the sport's Drive for Diversity initiative.

"Waste Management is proud to announce this new racing program that will support our company's key performance goals, and we expect will inspire our employees and customers, as well as provide value for our shareholders," said Waste Management Chief Executive Officer David Steiner.

The No. 17 Waste Management Ford Taurus will make its racing debut Nov. 6 at the Phoenix International Raceway in the Bashas' Supermarkets 200 NASCAR Busch Series race (NBC, 3 p.m. EDT). In 2005, Waste Management will be the primary sponsor in an additional 14 races of Matt Kenseth's NASCAR Busch Series schedule for Roush Racing, and an associate sponsor on Kenseth's NASCAR NEXTEL Cup Series ride for the full season.

"Matt Kenseth is a great fit for our company because he is a champion and leader in the sport," added Steiner. "His professionalism, attention to detail and integrity is what we see in and expect from Waste Management's employees."

Waste Management will be the primary sponsor for Lester/Bill Davis Racing five NASCAR Craftsman Truck Series events spanning 2004 and 2005, as well as an associate sponsor throughout the balance of 2004 and the full 2005 season.

"Bill Lester clearly has the drive and talent to succeed at the top level of the Sport," added Steiner. "Waste Management will provide the opportunity and resources for Bill to compete head-to-head with many of the best drivers in the country.

"NASCAR is concentrating on making our sport, on and off the track, look more like America," said NASCAR President Mike Helton. "For NASCAR to continue to succeed and grow, no other issue is more important. Sponsorship is a key ingredient for success in diversity, and we want to thank Waste Management for expanding its involvement in NASCAR by supporting diversity and providing opportunities and possibilities for a new generation of competitors."

The Drive for Diversity initiative, operated by Access Marketing and Communications, is aimed at developing minority and female drivers and crewmembers. In 2004, Drive for Diversity's inaugural season, five drivers were selected to compete in the NASCAR Dodge Weekly Series and six crew members to compete nationally in NASCAR Craftsman Truck Series and Busch Series teams. Waste Management's Drive for Diversity Team will be owned by Sam Belnavis, an African-American pioneer in NASCAR who is also chief diversity officer of Roush Racing. Waste Management's Drive for Diversity driver will be identified in the coming months.

Additionally, Carlton Yearwood, Waste Management's Vice President of Business Ethics and Diversity, will join NASCAR's Diversity Council, which is committed to promoting diversity throughout the motor sports industry.

"Waste Management has been interested in expanding our very successful relationship with NASCAR to include the NASCAR Busch Series, which is the second most popular form of motor sports in the U.S., and NASCAR's diversity program," said Waste Management's Chief Executive Officer David Steiner. "NASCAR and Waste Management are known for our commitment to safety, teamwork, top performance and inclusion. So our sponsorship is a perfect fit."

Since 2001, Waste Management has been a title sponsor of NASCAR's "Picking Up Places" award, which recognizes the driver of the car who advances the most places in the field from qualifying to race finish, during every NASCAR NEXTEL Cup Series and NASCAR Craftsman Truck Series event.

The company also provides waste and recycling services to nearly all of the tracks holding NASCAR NEXTEL Cup Series and NASCAR Busch Series races. In addition, WM is involved at a local level as a service provider for many of the NASCAR Dodge Weekly Series tracks.

Kenseth won the 2003 NASCAR premier series championship with one of the most consistent performances in series history. He won one race, added 11 top-five finishes but also collected a series-high 25 top 10's en route to the title. He has nine career premier series wins, including two this season. He is one of the drivers who will find a place in the Chase for the NASCAR NEXTEL Cup, the final 10-race sprint to the 2004 NASCAR NEXTEL Cup championship. A native of Cambridge, Wisconsin, Kenseth also has 16 career NASCAR Busch Series victories; two of those wins have come this season. He finished second in the 1998 NASCAR Busch Series championship and third in 1999.

Lester, 43, is a University of California Berkeley computer-engineering graduate. He is in his third season of competition on the NASCAR Craftsman Truck Series. He currently drives a Toyota Tundra for Bill Davis Racing. He won the Bud Pole for the inaugural NASCAR Craftsman Truck race at Lowe's Motor Speedway in 2002. Lester's most recent top 10 finish came in July at Gateway International Raceway near St. Louis.

For more information about Drive for Diversity go to: www.drivefordiversity.com

Waste Management Inc. is its industry's leading provider of comprehensive waste management and environmental services. Based in Houston, the Company serves municipal, commercial, industrial and residential customers throughout North America.