Allied Waste to Save Millions by Converting Preferred Stock

Date: March 3, 2008

Source: Allied Waste Industries, Inc.

Allied Waste Announces Automatic Conversion of Series D Senior Mandatory Convertible Preferred Stock

Allied Waste Industries, Inc. (NYSE: AW) announced that, effective March 1, 2008, each share of the Company's 61/4% Series D Senior Mandatory Convertible Preferred Stock ("Preferred Stock") will automatically convert into 25.3165 shares of Allied's common stock pursuant to the terms of the certificate of designations governing the Preferred Stock. The Preferred Stock will convert into 60.7 million shares of common stock, which are included in the Company's fully diluted shares outstanding of approximately 443.0 million at December 31, 2007.

The conversion rate, pursuant to the terms set forth in the certificate of designations, is equal to $250.00 divided by the threshold appreciation price of $9.88. Each holder of Preferred Stock on the applicable record date will receive a cash payment equal to the amount of accrued and unpaid dividends.

As a result of the automatic conversion, Allied will no longer pay any future quarterly dividends in cash or stock in respect of the Preferred Stock resulting in an annual cash dividend savings of $37.5 million. Each holder of Preferred Stock on the conversion date will receive cash in lieu of any fractional shares of common stock issued upon conversion of the Preferred Stock.

About Allied Waste Industries, Inc.

Allied Waste is America's second largest non-hazardous solid waste services company and an environmental leader. Headquartered in Phoenix, AZ, Allied Waste provides waste collection, transfer, recycling and disposal services to millions of residential, commercial and industrial customers in over 100 major markets spanning 37 states and Puerto Rico. Our team of 23,000 dedicated employees operates within a highly efficient, integrated organization that generated 2007 revenue of $6.1 billion.

Websites: www.alliedwaste.com and www.disposal.com.

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