Capital Environmental Purchases Florida Recycling Operation

Date: November 24, 2003

Source: News Room

Capital Environmental Resource Inc. (NasdaqSC: CERI) has agreed to buy Florida Recycling Services Inc. for $128 million in cash and 3.25 million common shares, valued at approximately $20 million. Capital Environment also agreed recently to purchase the northern and central Florida operations of Allied Waste Industries Inc. (NYSE:AW) for $120 million. Florida Recycling, with 2002 revenue of $85 million, serves the Orlando, Daytona, Fort Myers and Tampa areas. Upon the completion of both deals, Capital Environmental will have 13 collection companies, four landfills, six transfer/processing facilities and four recycling plants in Florida.
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