Waste Industries USA, Inc. Announces Shareholder Approval of Going Private Transaction and Delisting of its Shares

RALEIGH, N.C., May 8 /PRNewswire-FirstCall/ -- Waste Industries USA, Inc. (NASDAQ:WWIN), a regional, non-hazardous solid waste services company, announced today that its shareholders have approved the previously announced going private transaction at a special meeting held today. The investor group behind the transaction is led by Lonnie C. Poole, Jr., the Company's founder and Chairman, and Jim W. Perry, the Company's President and Chief Executive Officer, and includes financial partners Macquarie Infrastructure Partners and Goldman Sachs. Under the terms of the approved merger agreement, Waste Industries shareholders will receive $38.00 per share in cash.

The transaction is scheduled to be effective on Friday, May 9. In connection with the transaction, Waste Industries shares will be de-listed from the Nasdaq stock exchange prior to the opening of trading on May 9.

About Waste Industries USA, Inc.

Waste Industries USA, Inc. is a vertically integrated solid waste services company that provides collection, transfer, disposal and recycling services to commercial, industrial and residential customer locations in the states of North Carolina, South Carolina, Virginia, Tennessee, Georgia and Mississippi.

Forward Looking Statements

This press release contains "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the statement will include words such as the Company "expects," "believes," "anticipates" or words of similar import. Similarly, statements that describe the Company's future plans, objectives or goals are also forward-looking statements. The forward-looking statements are subject to risks and uncertainties, including the possibility that the proposed transaction could be withdrawn, rejected, or unable to be consummated because of various contingencies, including, but not limited to, the outcome of any legal proceedings that may be instituted against the Company and/or others relating to the proposed transaction, the effect of the announcement on the Company's operating results and business generally, the risk that the proposed transaction disrupts current plans and operations, the inability to satisfy any material conditions to consummation of the proposed transaction, downturns in the Company's business or the state of the corporate credit markets, and the impact of the substantial indebtedness expected to be incurred to accomplish the proposed transaction. Consider these factors carefully in evaluating the forward-looking statements. The risk factors listed in the Company's Form 10-K for the year ended December 31, 2007 and subsequently filed Forms 8-K also provide examples of risks, uncertainties and events that could cause actual results to differ materially from those contained in forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements and is not responsible for changes made to this press release for Internet or wire services.

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Source: Waste Industries USA, Inc.

CONTACT: Carol Dalton, Investor Relations of Waste Industries USA, Inc.,
+1-919-325-3000

Web site: http://www.waste-ind.com/

Company News On-Call: http://www.prnewswire.com/comp/120685.html

2008-05-08 18:55:21 0357278 PRNEWSWIRE