Covanta Holding Corporation Announces Departure of CFO, Effective at End of Third Quarter

Date: April 3, 2006

Source: PR Newswire

Covanta Holding Corporation (NYSE: CVA) announced today that Craig D. Abolt, Senior Vice President and Chief Financial Officer, will leave his position in order to pursue other opportunities. Mr. Abolt has agreed to remain in his current position through the end of the third quarter to ensure a smooth transition and provide ample time to name a successor. The Company said that it has retained an executive recruitment firm to assist in its search for Mr. Abolt's successor.

Anthony J. Orlando, President and Chief Executive Officer, stated, "Craig has been a central member of our management team for the last two years, during which time the company has accomplished significant growth. In particular, he was instrumental in our successful refinancing associated with the acquisition of American Ref-Fuel Holdings Corp. last year, and in our subsequent integration of the businesses. We thank Craig for his important contributions and wish him the best in his future endeavors."

"Over the past two years, we have accomplished a great deal and shaped a bright future for Covanta," Abolt said. "I am particularly proud that we've assembled such a talented and dedicated group of finance professionals that will serve the Company well in the years ahead."

More information: www.covantaholding.com.

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