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CHEMICAL WASTE MANAGEMENT REPORTS IMPROVED FIRST QUARTER RESULTS

 CHEMICAL WASTE MANAGEMENT REPORTS IMPROVED FIRST QUARTER RESULTS
 OAK BROOK, Ill., April 15 /PRNewswire/ -- Chemical Waste Management, Inc. (NYSE: CHW) today reported improved results for its first quarter ended March 31, 1992.
 Net income for the first quarter totaled $29,930,000, compared with $24,014,000 in the first quarter of 1991. Revenue of $373,276,000 increased from the $304,772,000 reported in last year's first quarter. Earnings per share of $0.15 compared with $0.12 reported in last year's first quarter.
 "During the first quarter, while the general economic weakness continued to affect Chemical Waste Management's results, we experienced improvement over the first quarter of 1991," said D.P. Payne, president and chief executive officer of the company. "Our special projects business demonstrated renewed strength in the quarter, and we also see a greater number of major bidding opportunities than in the year-earlier period," he said.
 "Furthermore, we were pleased to see that land disposal activity showed a strong increase in the final month of the quarter," Payne stated.
 Also during the first quarter, the U.S. Supreme Court agreed to hear Chem Waste's challenge of Alabama's discriminatory tax on out-of-state waste disposed at the company's Emelle, Ala., facility. The solicitor general of the United States had filed a brief on behalf of the federal government urging the U.S. Supreme Court to hear the company's petition.
 The Brand Companies, Inc., a majority owned subsidiary of Chem Waste, reported improved earnings and revenue on Tuesday. Brand's results benefited from its recent acquisitions and the company anticipates further growth of Brand through awards of major projects, such as the recent project awarded by the Philippine government to the company's Marine/Utility Group.
 Chem-Nuclear Systems, Inc., a wholly owned subsidiary, recently acquired Diversified Scientific Services, Inc. The DSSI processing facility recovers energy from mixed wastes, such as solvents, which may be slightly radioactive, and can thermally destroy approximately 1.1 million gallons of solvents annually.
 Chemical Waste Management, Inc. is the largest comprehensive hazardous waste management company in the United States. It provides waste reduction services; recycling and resource recovery; collection, treatment and disposal of hazardous waste; services for the management of radioactive and mixed wastes; and the remediation of environmentally impaired sites.
 CHEMICAL WASTE MANAGEMENT, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 Three Months Ended March 31 1992 1991
 Revenue $373,276,000 $304,772,000
 Costs and Expenses
 Operating $268,773,000 $216,380,000
 Selling and administrative 50,788,000 46,533,000
 Interest expense 7,371,000 1,154,000
 Minority interest and sundry
 expense (income), net (1,736,000) 3,482,000
 Gain on issuance of stock by
 subsidiary -- (3,147,000)
 Income Before Income Taxes $ 48,080,000 $ 40,370,000
 Provision for Income Taxes 18,150,000 16,356,000
 Net Income $ 29,930,000 $ 24,014,000
 Average Shares and Equivalent
 Shares Outstanding 205,507,000 207,987,000
 Earnings Per Common and Common
 Equivalent Share $0.15 $0.12
 Certain amounts in previously issued financial statements have
 been reclassified to conform to 1992 classifications.
 -0- 4/15/92
 /CONTACT: Joseph Pokorny 708-218-1689, or Analysts-contact Bruce Tobecksen, 708-218-1602, both of Chemical Waste Management/
 (CHW) CO: Chemical Waste Management Inc. ST: Illinois IN: CHM SU: ERN


TQ -- NY014 -- 8530 04/15/92 09:26 EDT
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Date:Apr 15, 1992
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