MED/WASTE, Inc. Acquires $35 Million Credit Facility; Hires Sutro & Co. Incorporated for Investment Banking; Appoints Ross M. Johnston, Esq. as VP Legal Affairs

MIAMI LAKES, FL (Jan. 26) BUSINESS WIRE- Jan. 26, 1999--MED/WASTE, INC. (Nasdaq: MWDS), a medical waste management company offering services to hospitals, satellite medical facilities, physician and dental offices from New York to Florida, east of the Mississippi River, today announced the closing of a $35 million credit facility with Union Planters Bank, N.A. as agent. The loan consists of a $10,000,000 revolving credit facility for working capital and a $25,000,000 convertible credit facility to be used to refinance current debt and finance capital expenditures and acquisitions. The agreement provides for an immediate increase in working capital of approximately $1,300,000 and refinances an existing $5,000,000 line of credit and a $13,000,000 term loan, both with Union Planters Bank, N.A.

Daniel A. Stauber, President and Chief Executive Officer of Med/Waste, Inc. said, "This $35 million credit facility marks the beginning of a new era at Med/Waste. We can now proceed with several projects crucial to our success such as the completion of the Hampton, SC incinerator expansion and several acquisitions. This credit facility will also reduce interest costs, furthering our ability to improve our information systems and gain significant operating efficiencies."

In addition to the financing, Med/Waste, Inc. hired Sutro & Co. Incorporated, a premier West Coast-based investment banking firm specializing in health care. Sutro's highly experienced team of investment banking professionals guide clients through every stage of growth from private placements to initial public offerings to follow-on offerings and mergers and acquisitions. From this point forward, Sutro & Co. will serve as the Company's exclusive financial advisor on any upcoming acquisitions or financing transactions Med/Waste may undertake.

The Company also announced that Ross M. Johnston, Esq. has joined Med/Waste as Vice President Legal Affairs. Mr. Johnston brings 17 years of experience in environmental, waste and legal issues. He spent almost three years with Browning-Ferris Industries of Florida as Director of Public Affairs responsible for governmental, public and community affairs. From 1989 to 1995, Johnston was Vice President Legal Affairs and General Counsel for MedX, Inc. during a period when there was an enormous amount of new legislation pending in the medical waste industry. Johnston has expertise in environmental litigation, permitting processes for incinerators, sterilizers, recycling and transfer stations, legislative monitoring and corporate compliance, as well as due diligence for mergers and acquisitions.

Mr. Stauber continued, "Ross Johnston is an important addition to our management team. We look forward to working with him on all aspects of our business especially on permitting and due diligence matters. Recently, we announced several additions to management that, as a group, should propel us into a much larger company sooner than anticipated. This year will be a very exciting year for us as the Hampton, SC incinerator expansion comes on line, several pending acquisitions are completed and we begin to realize the financial benefits from these developments."

Med/Waste, Inc. provides medical waste management services to more than 20,000 healthcare facilities for customers throughout the Eastern United Sates. Such services include collection, treatment through incineration or autoclaving, and disposal, as well as the sale and service of reusable sharps containers for medical and special waste. Med/Waste's goal is to become the premier medical waste management company in the region, offering cradle-to-grave services and superior customer service.

The statements in this press release that are not historical facts and constitute "forward-looking statements" that involve risks, uncertainties and other facts which may cause actual results to be materially different from those set forth in the forward-looking statements. Such factors include but are not limited to the following: general economic and business conditions; competition; the ability to implement and the effectiveness of business strategy and development plans; quality of management; business abilities and judgement of personnel; availability of qualified personnel; labor and employee benefit costs and availability and cost of raw materials and supplies. Med/Waste, Inc. will not undertake and specifically declines any obligation to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated and unanticipated events.

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CONTACT: Company Contact:
Med/Waste, Inc.

Daniel A. Stauber, President & CEO
Tel: 305/819-8877

or
Financial Communications Contact:

Lippert/Heilshorn & Associates, Inc.
Lisa D. Lettieri, Vice President

Tel: 212/838-3777
www.lhai.com or lisa@lhai.com

KEYWORD: FLORIDA
INDUSTRY KEYWORD: MEDICINE BANKING MERGERS/ACQ MANAGEMENT CHANGES
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