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WESTERN WASTE ANNOUNCES THIRD QUARTER RESULTS

 WESTERN WASTE ANNOUNCES THIRD QUARTER RESULTS
 LOS ANGELES, May 12 /PRNewswire/ -- Western Waste Industries


(NYSE: WW) today reported that results for the third fiscal quarter and nine months ended March 31, 1992, were adversely affected by writeoffs associated with a recently terminated potential acquisition and the closure of a division, among other factors.
 As a result, for the third quarter, a net loss of $5,184,000, or $.37 per share, was incurred, compared with net earnings of $2,776,000, or $.20 per share, in the prior-year period. Revenue increased to $56,662,000 from $48,914,000 in the same period of 1991.
 For the nine-month period, net income was $202,000, or $.01 per share, vs. $8,298,000, or $.60 per share, a year earlier. Revenue rose to $161,607,000 from $149,917,000.
 Absent the write-offs, net income would have been $2,228,000 or $.16 per share for the third quarter and $7,614,000, or $.54 per share, for the nine months.
 Western Waste's previously announced agreement to acquire G.I. Industries (OTC) was recently terminated. As a result, after careful review, the company has substantially written down its investment in G.I. to reflect the estimated net realizable value. Writedowns related to G.I. in the quarter totaled $6.6 million, including investments, loans and certain direct acquisition costs.
 In addition, Western Waste has written off $4.0 million in connection with the closing of its Stagg Manufacturing Division, which manufactures equipment primarily for the company's own use. The decision came after the company recently reassessed the division's prospects in light of the continuing economic downturn, which significantly affected anticipated outside demand.
 Partially offsetting these shortfalls, the company began construction in January 1992 of new Class 1 and Class 3 landfills for Nassau County, Fla. The construction, expected to be completed this calendar year, will generate an estimated $10.8 million in revenue for the company. Approximately $3.4 million was recorded in the most recent quarter.
 Kosti Shirvanian, president and chief executive officer, said, "These decisions now allow us to concentrate our resources and attention on Western Waste's collection and disposal business, with particular emphasis on our landfill operations."
 Western Waste Industries is a leading integrated solid waste management company, providing collection, recycling, composting and disposal services for commercial, industrial and residential customers. The company has locations in California, Texas, Florida, Arkansas, Louisiana and Colorado.
 WESTERN WASTE INDUSTRIES
 Consolidated Statement of Income
 (In thousands, except per share data)
 (Unaudited)
 Three months Nine months
 ended March 31, ended March 31,
 1992 1991 1992 1991
 Revenue $56,662 $48,914 $161,607 $149,917
 Costs & expenses:
 Operating 43,183 35,621 120,697 109,399
 Selling, general and
 administrative 9,128 7,585 26,276 23,029
 Total costs and
 expenses 52,311 43,206 146,973 132,428
 Income from operations 4,351 5,708 14,634 17,489
 Non-operating income
 (expense)
 Interest expense (968) (1,770) (2,978) (5,177)
 Other (7,831) 540 (7,275) 1,072
 Disposal of a division (4,050) --- (4,050) ---
 Total (12,849) (1,230) (14,303) (4,105)
 Income (loss)
 before income taxes (8,498) 4,478 331 13,384
 Income taxes (benefit) (3,314) 1,702 129 5,086
 Net income (loss) ($5,184) $2,776 $202 $8,298
 Earnings (loss) per
 common share:
 Primary and
 fully diluted ($.37) $.20 $.01 $.60
 Average number of
 shares outstanding 14,094 14,001 14,041 13,813
 -0- 5/12/92
 /CONTACT: Lawrence McQuaide of Western Waste Industries, 310-329-1425; or Craig A. Parsons of Pondel Parsons & Wilkinson, 310-207-9300, for Western Waste Industries/
 (WW) CO: Western Waste Industries ST: California IN: SU: ERN


EH-JL -- LA009 -- 8968 05/12/92 09:07 EDT
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Date:May 12, 1992
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