AIG Highstar Announces Recapitalization of Advanced Disposal Services

Date: July 19, 2006

Source: AIG Highstar

New York, NY, July 19, 2006 - AIG Highstar Capital (Highstar) and Advanced Disposal Services, Inc. (Advanced Disposal) announce their agreement to recapitalize Advanced Disposal in a transaction valued at approximately $470MM. The parties have agreed to restructure and replace the existing shareholders of Advanced Disposal and position the company for future growth and expansion. The recapitalization is subject to customary closing conditions and regulatory approvals which the parties expect to receive within 30 to 60 days.

Highstar is an investment management team that manages private equity funds investing in infrastructure related assets and businesses. Highstar is sponsored by AIG Global Investment Group (AIGGIG).

Advanced Disposal is a non-hazardous solid waste company based in Jacksonville, Florida. The company provides collection, transfer, and disposal services for commercial, industrial, municipal, and residential customers in the Southeastern United States. The company's operations include numerous integrated hauling locations, transfer stations and solid waste disposal facilities.

Commenting on the recapitalization, Charlie Appleby, President of Advanced Disposal, stated, "This marks an exciting new chapter for the company. While the transaction will be essentially transparent to our existing customers and workforce, it provides us with significant resources to fuel our growth and expansion while ensuring the continuation of excellent customer service by the same management team - from our drivers, dispatchers, sales and service representatives to our general and district managers. This is an ideal strategic alliance between experienced management with a highly successful proven track record and a strong financial backer with relevant industry experience."

Christopher Lee, Managing Partner of Highstar stated, "We are extremely pleased to be participating in the recapitalization of Advanced Disposal as this represents an outstanding opportunity to back a first class management team with well positioned assets in high growth geographic markets. We look forward to supporting the continued growth of the Advanced Disposal business consistent with the company's standards of integrity, customer service, community support and respect for its employees and stakeholders."

AIG Global Investment Group: 70 Pine Street New York, NY 10270

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