Press Release For Further Information: Analysts: Cherie Rice 713.512.6548 Media: Sarah Voss 713.394.2154 Brownfield Properties, LLC. Alex Levy 904.731.3241 Waste Management Transfers Its Sunbeam Landfill To Brownfield Properties, LLC Developers plan to convert closed site into 18-hole golf course community HOUSTON - August 1, 2002 - The idle Sunbeam Landfill property, owned by Waste Management, Inc. of Florida, a subsidiary of Waste Management, Inc. (NYSE: WMI) officially transferred to Brownfield Properties, LLC at a private ceremony today. The new owners of the 225-acre site plan to transform the land into an 18-hole golf course community. "Our city welcomes such productive projects as Sunbeam. We are doing everything we can to cooperate, while at the same time, ensuring that the site is suitable for this new, functional, yet positive use," said Jacksonville Mayor John Delaney during a brief ceremony held at Sunbeam Landfill. Beneficial reuse The Sunbeam property will provide another stage of productive, beneficial use for the area. During its first period of operation and use, Sunbeam offered safe and protective waste disposal for the residents in the area. "We are proud to see a valuable reuse in place at our Sunbeam Landfill," said A. Maurice Myers, Chairman, President and Chief Executive Officer of Waste Management. "With the cooperation and guidance of many people, especially city and state regulators, we can offer this site as a prime candidate for reclamation under the federally-directed brownfields program." The next steps are for Sunbeam to receive brownfield designation from the city of Jacksonville and permit modification from the Florida Department of Environmental Regulation. The brownfields program is designed to make use of under used properties. Brownfield initiatives are intended to empower states, communities, and other stakeholders in economic development to work together in a timely manner to assess and sustainably reuse such sites. Once designation and permitting is complete, Sunbeam golf plans comprise an 18-hole course, a clubhouse and an aqua driving range. On site, it will also include an adjacent area of attached homes for active adults. The Sunbeam landfill continues to meet and exceed local, state and federal regulatory programs. "It was operated by professionals who knew how to do the job right. Local Jacksonville experts have monitored and maintained the site since it closed in 1986," said March Smith, director of closed sites for Waste Management in the South. A first for Jacksonville Several golf courses have been developed in Florida on closed landfill sites, however, this is the first of its kind planned for the Jacksonville area. As many as 60 such courses exist around the country. Successful construction techniques and operating standards will be applied to the Sunbeam site to make play on the golf course both safe and demanding. Brownfield Properties, LLC, the company that purchased the site from Waste Management, is a development company headquartered in Atlanta, Georgia. Current brownfield projects in Jacksonville include a 43-acre business park on Philips Highway, just north of J. Turner Butler Boulevard. The corporate park will feature 240,000 square feet of office space. To provide challenging golf at Sunbeam, Brownfield Properties selected Roy Case to design the course. Case is a British golf community designer with a track record of golf courses in eight states in the US. Early interest for active adult homes As early stages of the land reuse project were announced, interest in the golf course homes has been high. With only 134 total homes planned, over 60 people have asked to join the waiting list, and 10 couples have reserved homes with deposits. "We are very pleased with the initial reaction to this project. The home designs reflect an upscale quality often found at most golf course communities," said Dane Cates, president of Brownfield Properties, LLC. Sunbeam's condominium homes will feature ground floor designs with attached two car garages. The four floor plans, with layouts ranging from 1300 square feet to over 1800 square feet, include fine-home details: entrance foyers, vaulted ceilings, ceramic tiles, laundry rooms, upgraded carpets and cabinets and more. "This property is a hidden jewel in the middle of the Mandarin area," added Cates. The land is perfect for planning a golf course and well suited for classic homes designed for active adults." With the largest network of landfills in the industry, Waste Management, the former owner of Sunbeam, uses state-of-the-art operational procedures that help protect the environment in approximately 300 landfills owned or operated by its affiliated companies. Each landfill site, active or closed, is maintained carefully to meet or exceed federal, state, and local regulations. Waste Management, Inc. is the industry leader, providing comprehensive waste management services. Based in Houston, the company serves municipal, commercial, industrial and residential customers throughout North America.