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<DIV>UPI Chicago, 7/16/99</DIV>
<DIV> </DIV>
<DIV>After the bell today Waste Management Inc. (WMI) announced their long
awaited Internet strategy. Speculation began earlier this week on the
popular CNBC morning business show, Squawk Box, that WMI was working on such a
strategy. The company which specializes in solid waste removal and
processing and has been struggling of late due to accounting
irregularities, is down approximate 40% from its 52 week high of 60 but closed
up 3/16 at 36-1/4 today.</DIV>
<DIV> </DIV>
<DIV>An unnamed company spokesperson announced that WMI has reached a definitive
agreement with both America On Line (AOL) and Yahoo to dispose of the waste
created each time a computer user empties the Windows recycle bin. Using a
proprietary Internet connection, the waste will be transported to one of six yet
to be constructed processing facility, where it will be recycled in new bits and
bites, which will then be sold to consumers. The new service which will be
called WMI.com will allow Internet consumers to be able to purchase
recycled bits and bites on line for less than the cost of new ones from your
local computer store. The spokesperson went on to say that recycled bits
are every bit as good as new ones.</DIV>
<DIV> </DIV>
<DIV>Some Government regulators have, in the past, expressed concerns about
privacy issues, however the WMI spokesperson assured reporters that the waste
files would be thoroughly shredded prior to recycling and that no unauthorized
WMI employees would have access to any data that they may contain.</DIV>
<DIV> </DIV>
<DIV>In a related story the Federal Bureau of Investigation (FBI) has expressed
concerns that criminals and subversives would be able to destroy evidence of
their crimes by using the new service. Siting national security, the FBI
has asked the House Judiciary Committee to begin hearings towards developing
legislation which would allow law enforcement agencies access to critical data
prior to shredding.</DIV>
<DIV> </DIV>
<DIV>On Wall Street, one Internet analyst predicted this announcement would
"revolutionize Internet waste removal" and raised his 3 day target for the stock
to 135-3/16. Upon further questioning, the analyst however admitted
his firm held more than 10,000 Aug 60 calls, symbol WMIHL. Shares in WMI
where halted prior to the announcement, however, an SEC spokesperson has assured
potential investors that the stock will be open for trading as usual
Monday.</DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV>We all better get in on this before it's to late.</DIV>
<DIV> </DIV>
<DIV>
Good luck and good trading,</DIV>
<DIV> </DIV>
<DIV>
Ray Raffurty</DIV></BODY></HTML>
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