<SUBMISSION>
<ACCESSION-NUMBER>0000950129-08-004388
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20080811
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20080811
<DATE-OF-FILING-DATE-CHANGE>20080811
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>WASTE MANAGEMENT INC
<CIK>0000823768
<ASSIGNED-SIC>4953
<IRS-NUMBER>731309529
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-12154
<FILM-NUMBER>081004302
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1001 FANNIN STREET
<STREET2>STE 4000
<CITY>HOUSTON
<STATE>TX
<ZIP>77002
<PHONE>7135126200
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1001 FANNIN STREET
<STREET2>SUITE 4000
<CITY>HOUSTON
<STATE>TX
<ZIP>77002
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>USA WASTE SERVICES INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>h59507e8vk.htm
<DESCRIPTION>FORM 8-K - CURRENT REPORT
<TEXT>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, DC 20549<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported): August&nbsp;11, 2008</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Waste Management, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>(Exact Name of Registrant as Specified in Charter)</B></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-12154
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">73-1309529</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top" nowrap><B>(State or Other Jurisdiction of Incorporation)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(Commission File Number)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(IRS Employer Identification No.)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">1001 Fannin, Suite&nbsp;4000 Houston, Texas
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">77002</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>(Address of Principal Executive Offices)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(Zip Code)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Registrant&#146;s Telephone number, including area code: </B>(713)&nbsp;512-6200</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000"><B>(Former Name or Former Address, if Changed Since Last Report)</B></FONT></DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







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<!-- link1 "Item&nbsp;7.01. Regulation&nbsp;FD Disclosure" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On August&nbsp;11, 2008, Waste Management, Inc. (the &#147;Company&#148;) announced that it has made a revised
proposal to the Board of Directors of Republic Services, Inc. (&#147;Republic&#148;) to acquire all of
Republic&#146;s outstanding common stock for $37.00 per share in cash.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company plans to hold a conference call to discuss the revised proposal at 8:00 a.m. Central
time on August&nbsp;11, 2008. The call can be accessed by dialing (888)&nbsp;562-3356 or, for International
calls, (973)&nbsp;582-2700 and asking for the &#147;Waste Management Conference Call &#150; Call ID 59919388.&#148;
The conference call will be webcast simultaneously and available on Waste Management&#146;s website at
www.wm.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Furnished as Exhibit&nbsp;99.1 hereto and incorporated herein by reference is the press release issued
by the Company regarding the revised acquisition proposal.
</DIV>

<!-- link1 "Item&nbsp;9.01 Financial Statements and Exhibits" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibits</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release, dated
August&nbsp;11, 2008, announcing revised proposal to acquire all of Republic
Services, Inc.&#146;s outstanding common stock.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused
this report to be signed on its behalf by the undersigned, hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">WASTE MANAGEMENT, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:      August 11, 2008&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Rick L Wittenbraker
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rick L Wittenbraker&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Senior Vice President</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<!-- link1 "Exhibit&nbsp;Index" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Exhibit&nbsp;Index</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<TR valign="top">
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release, dated August&nbsp;11, 2008, announcing revised proposal
to acquire all of Republic Services, Inc.&#146;s outstanding common stock.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>h59507exv99w1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
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<TITLE>exv99w1</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="h59507h5950700.gif" alt="(WASTE MANAGEMENT LOGO)">
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>For Further Information:<BR>
Waste Management, Inc.<BR>
Analysts: Greg Nikkel &#151; 713.265.1358<BR>
Media: Lynn Brown &#151; 713.394.5093<BR>
Web site: http://www.wm.com</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Joele Frank, Wilkinson Brimmer Katcher<BR>
Dan Katcher / Ed Trissel &#150; 212.355.4449</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>WMI #08-15</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>WASTE MANAGEMENT IMPROVES ALL-CASH PROPOSAL FOR REPUBLIC SERVICES</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><I>Proposes to Acquire Republic for $37.00 Per Share in Cash</I>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><I>Strength of Commitment to Regulatory Approval Evident in $250 Million Reverse Break-Up Fee</I>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><I>Company Willing to Include &#147;Ticking Fee&#148; to Demonstrate Confidence in Timely Regulatory Approval</I>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>HOUSTON &#150; August&nbsp;11, 2008 </B>&#150; Waste Management, Inc. (NYSE: WMI) announced that it has sent the Board
of Directors of Republic Services, Inc. (NYSE: RSG) (&#147;Republic&#148;) a letter today revising its
proposal to acquire all of the outstanding shares of Republic.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the terms of the revised proposal, Waste Management would acquire all of the outstanding
shares of Republic for $37.00 per share in cash. This is a premium of 32.6% to Republic&#146;s closing
stock price on July&nbsp;11, 2008, the last trading day prior to public disclosure of Waste Management&#146;s
proposal, and is above Republic&#146;s all-time high stock price. The proposal also provides the
certainty of an all-cash transaction that is within the range of value determined by Republic&#146;s own
financial advisor for its pending transaction with Allied Waste Industries, Inc. (&#147;Allied&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In its revised proposal, Waste Management addressed the concerns expressed by Republic&#146;s Board by
stating that it:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#150;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>would pay Republic a fee of $250&nbsp;million if the parties are unable to close a
transaction due to opposition from the U.S. Department of Justice;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#150;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>would provide further assurance on its ability to close the transaction in a timely
manner by including a &#147;ticking fee,&#148; increasing the $37.00 per share price by an interest
component, in the event its proposed transaction does not close on or before a mutually
acceptable date due to antitrust clearance delays;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#150;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>has confirmed that financing is available and expects to execute commitment letters
after it begins discussions with Republic on a merger agreement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#150;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>believes that the company&#146;s post-transaction financial profile will allow Waste
Management to remain investment grade, and is committed to take appropriate actions to
ensure that result.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Our $37.00 all-cash proposal clearly offers Republic stockholders a better and more certain value
alternative than is contemplated in the Republic-Allied transaction,&#148; said David P. Steiner, Waste
Management&#146;s CEO. &#147;We believe our proposal is clearly superior for Republic&#146;s stockholders and is
designed so we can work cooperatively with Republic to structure a transaction that would benefit
both Republic and Waste Management stockholders.&#148;
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The company also noted that, based on conversations with market area general managers to begin
planning for the integration of Republic&#146;s operations, it believes that it can achieve synergies 25
to 35&nbsp;percent higher than the company&#146;s original estimate of $150&nbsp;million. In addition, if the
company is able to identify incremental value or synergies in due diligence, it will consider
sharing that benefit with the Republic stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Steiner concluded, &#147;We want to work with Republic&#146;s Board and superb management team to address
all of their concerns. We believe our proposal is the first step in that process, and we look
forward to working together to achieve a transaction that creates certain and immediate value for
Republic&#146;s stockholders and great long-term value for our stockholders. We also continue to expect
that the transaction will be accretive to Waste Management in the first year following closing.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Below is the full text of the letter that Waste Management sent to the Republic Board of Directors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August&nbsp;11, 2008
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 2%; margin-top: 6pt">The Board of Directors<BR>
Republic Services, Inc.<BR>
c/o Mr.&nbsp;James E. O&#146;Connor<BR>
Chairman and Chief Executive Officer<BR>
110 S.E. 6<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Street, 28<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Floor<BR>
Fort Lauderdale, Florida 33301
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>Re: All Cash Proposal for $37.00 per Share to Acquire All of the Outstanding Shares of
Republic Services</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Dear Members of the Board of Directors:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On behalf of the Board of Directors of Waste Management, Inc. (&#147;Waste Management&#148;), I
am pleased to present our revised proposal to acquire all of the outstanding common stock of
Republic Services, Inc. (&#147;Republic&#148;) at a price of $37.00 per share in cash. Our new
proposal would provide superior value to Republic stockholders and addresses each of the
issues raised in your July&nbsp;18 letter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><I>Price</I></U>. After our proposal was announced on July&nbsp;14, we worked with our market
area general managers to begin planning for the integration of Republic&#146;s operations with
our local operations. We believe we can integrate the operations with very little risk to
our business and that we can achieve synergies 25 to 35% higher than our original estimate
of $150&nbsp;million. We are now prepared to increase our offer to $37.00 per share. If, in
our diligence, we discover incremental value or synergies, we will consider sharing that
benefit with Republic&#146;s stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This $37.00 price represents a 32.6% premium to Republic&#146;s closing stock price on July
11, 2008, the last trading day prior to public disclosure of Waste Management&#146;s initial
proposal; and is above Republic&#146;s all-time high stock price.&nbsp; Our proposal also provides the
certainty of an all-cash transaction that is within the range of value determined by
Republic&#146;s own financial advisor in connection with your pending transaction with Allied
Waste Industries, Inc. (&#147;Allied&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><I>Regulatory Review and Timing</I></U>. We strongly believe our proposal presents less
risk on regulatory matters to Republic&#146;s stockholders than Republic&#146;s proposed merger
transaction with Allied &#150; a belief that is underscored by the significant commitments
outlined in our July&nbsp;14 letter and the additional commitments and actions described below.
</DIV>

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</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As you know, Allied is subject to consent decrees with the Department of Justice and
certain State Attorneys General that will result in divestitures due to a combination of
Republic and Allied. In order to complete a merger with Republic, we will also have to
divest assets pursuant to a consent decree. We will commit to effect those consent decree
divestitures that we know will be necessary. Allied has not made such a commitment as part
of its merger agreement with Republic.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your letter of July&nbsp;18 expressed a concern that antitrust issues would extend the time
required to complete a transaction with Waste Management, and uses that as one of the
reasons you are unwilling to engage with us. We already have made a Hart-Scott-Rodino
filing with the Department of Justice and notified the applicable State Attorneys General,
thereby commencing an antitrust review of our proposed transaction with Republic. Moreover,
we have met with the Department of Justice as to our proposed transaction, and on a
voluntary basis have produced and are continuing to produce substantial information to the
Department of Justice as to competitive overlaps. We are also in discussions with
prospective purchasers of the assets that we would be required to divest. Based on our
progress to date, we now anticipate that our proposed transaction with Republic would close
in late 2008 or early 2009.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To evidence our confidence that antitrust clearance will be obtained within an
acceptable timeframe, our merger agreement with Republic will provide that Waste Management
would pay Republic a fee of $250&nbsp;million if we are unable to close our deal due to
opposition from the U.S. Department of Justice. This is a substantial commitment that
should alleviate any concerns that our proposed transaction presents additional regulatory
complexity, risk or delay, when compared to the Allied transaction. In fact, our new
proposal constitutes a commitment that is clearly superior to the commitment made by Allied.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moreover, to demonstrate our confidence that we can close in a timely manner, we are
willing to include a &#147;ticking fee&#148; in our merger agreement with Republic &#151; this would
increase our $37.00 per share price by an interest component &#151; in the event our proposed
transaction does not close on or before a mutually acceptable date due to delays in
antitrust clearance.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe our actions demonstrate that we have addressed any antitrust risks to
Republic&#146;s stockholders. However, we are certainly open to discussions with Republic to
determine how to alleviate any additional antitrust concerns.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><I>Credit Ratings</I></U>. Our review of the combined companies indicates that our debt
would receive an investment grade rating based upon published rating agency criteria. To
the extent that other factors are taken into consideration, we believe that our company&#146;s
post-transaction financial profile and our commitment to apply excess cash to reduce our
debt after we close our merger with Republic will be positive factors. We will engage the
agencies&#146; ratings advisory services to review our plans and advise us as to how we can
ensure that we will retain our investment grade rating. Should it become necessary to take
additional corporate action to maintain our ratings, we are committed to taking such action.
Given our significant cash flow, sizable asset base and strong financial condition, we
believe we have multiple options to ensure we maintain investment grade ratings.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As you know, the rating agencies normally conduct a review of a proposed merger
transaction in order to issue their expected rating for the combined company following the
transaction. However, the agencies will not issue a determination without the consent of
both merger parties. Given the level of our commitment described above, and in order to
enable all parties involved to share in our confidence as soon as possible, we would request
that Republic provide its consent to the ratings agencies to allow the agencies to commence
their review of the proposed merger. We note that the agencies need not provide Republic&#146;s
information to Waste Management in connection with their review. Consequently, there is no
risk or cost to Republic in
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">granting such consent. Following your consent, we would meet with the rating agencies to
review our plans that support investment grade ratings, and work with the agencies to ensure
that result.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><I>Financing</I></U><I>. </I>Since our proposal was made public on July&nbsp;14, we have been working
with our financial advisor, Credit Suisse Securities (USA)&nbsp;LLC, to arrange financing for our
transaction with Republic. We have had extensive discussions with leading global banks
regarding financing for the purchase price, transaction costs and other financings necessary
for our operations. It is clear that financing is available. The credit committees of
these banks have approved financing well in excess of the purchase price. We expect to
execute commitment letters after we begin discussions with Republic on a merger agreement.
Credit Suisse has indicated that certain terms of the financing may improve once we and
Republic are cooperating to negotiate our merger transaction, which is our ultimate goal.
To address any concerns you may have as to financing, Credit Suisse is available to you and
your financial advisor to confirm our ability to finance our proposed transaction and that
the financing can be finalized promptly once our companies begin discussions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our revised proposal clearly demonstrates that we intend to consummate a transaction
with Republic that benefits Republic&#146;s stockholders. In addition, the acquisition of
Republic&#146;s business, in combination with our own, will provide an opportunity to grow our
business in a meaningful way that we believe will benefit our stockholders. Clearly, our
cash proposal represents a greater benefit to Republic&#146;s stockholders than the proposed
merger with Allied, which we believe represents significant business, integration and
operational risks to Republic&#146;s stockholders on a going-forward basis.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each issue outlined in your July&nbsp;18 letter is addressed by our revised proposal, and
our proposal charts a course without any additional risk, cost or delay to Republic. It is
apparent that many Republic stockholders have serious doubts about a merger with Allied and
we believe that many Republic stockholders would prefer the certainty of our $37.00 per
share all-cash proposal. As a result, we trust that Republic&#146;s Board will give our proposal
serious and positive consideration and will recognize that it is, or could reasonably be
expected to lead to, a transaction superior to Republic&#146;s proposed merger with Allied. We
look forward to working with you and Republic&#146;s fine management team to address any other
concerns you may have and to consummate our proposed transaction. This is a non-binding
proposal that is subject to the contemplated execution of a definitive merger agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We look forward to hearing from Republic&#146;s Board on our proposal at the earliest
possible time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Sincerely,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">/s/ David P. Steiner<BR>
Chief Executive Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Conference Call and Webcast</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Waste Management has scheduled a conference call with analysts for 9:00 a.m. Eastern Time on August
11, 2008 to discuss its revised proposal for Republic. You may listen to the analyst conference
call by telephone by contacting the conference call operator 5-10 minutes prior to the scheduled
start time and asking for the &#147;Waste Management Conference Call &#150; Call ID 59919388.&#148; US/Canada
Dial-In #: (888)&nbsp;562-3356. Int&#146;l/Local Dial-In #: (973)&nbsp;582-2700<B>. </B>It also will be webcast
simultaneously and available on Waste Management&#146;s website at
<U>www.wm.com</U>.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For those unable to listen to the live call, a replay will be available 24 hours a day beginning at
approximately 12:00&nbsp;p.m. Eastern Time on August&nbsp;11, 2008 through August&nbsp;18, 2008. To hear a replay
of the call over the Internet, access the Waste Management website at www.wm.com. To hear a
telephonic replay of the call, dial (800)&nbsp;642-1687 or
(706)&nbsp;645-9291 and enter conference code
59919388.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Waste Management</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste
management services in North America. Through its subsidiaries, the company provides collection,
transfer, recycling and resource recovery, and disposal services. It is also a leading developer,
operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States.
The company&#146;s customers include residential, commercial, industrial, and municipal customers
throughout North America.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Forward-Looking Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This press release contains forward-looking statements regarding, among other things, the proposed
acquisition of Republic by Waste Management and the anticipated consequences and benefits of such
acquisition, and other financial and operational items relating to Waste Management and Republic.
Statements made in the future tense, and statements using words such as &#147;intends,&#148; &#147;estimates,&#148;
&#147;expects,&#148; &#147;projects,&#148; &#147;plans,&#148; &#147;anticipates,&#148; and &#147;believes,&#148; and similar expressions are intended
to identify forward-looking statements. Forward-looking statements are not a guarantee of
performance and are subject to a number of risks and uncertainties, many of which are difficult to
predict and are beyond the control of Waste Management. These risks and uncertainties could cause
actual events and results to differ materially from those expressed in or implied by the
forward-looking statements, and therefore should be carefully considered. Relevant risks and
uncertainties relating to the proposed transaction include, but are not limited to: the risk that
required regulatory review and approval may not be obtained in a timely manner, if at all;
Republic&#146;s directors and stockholders may not approve the proposed transaction; the anticipated
benefits and synergies of the proposed transaction may not be realized; the integration of
Republic&#146;s operations with Waste Management could be materially delayed or may be more costly or
difficult than expected; financing may not be available or may not be available on satisfactory
terms; the reaction of the credit markets (including rating agencies) to the proposed transaction
and expected refinancings may not be as anticipated; the proposed transaction may not be
consummated; and legal proceedings may be commenced against Waste Management. For a description of
relevant risks and uncertainties generally applicable to Waste Management, please see Waste
Management&#146;s filings with the Securities and Exchange Commission, which are available on Waste
Management&#146;s website or at www.sec.gov. In providing forward-looking statements, Waste Management
does not intend, and is not undertaking any duty or obligation, to update these statements as a
result of new information, future events or otherwise.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"># # #
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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