EXHIBIT 99
[GRAPHIC OMITTED] NEWS RELEASE
FOR IMMEDIATE RELEASE / THURSDAY, FEBRUARY 13, 2003
Contact: Chad Hyslop (208) 331-8400
chyslop@americanecology.com www.americanecology.com
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AMERICAN ECOLOGY SELLS TEXAS MUNICIPAL WASTE LANDFILL TO ALLIED WASTE FOR $10
MILLION, FUTURE ROYALTIES
COMPANY RETAINS OWNERSHIP OF TEXAS ECOLOGISTS HAZARDOUS WASTE DISPOSAL SITE
BOISE, Idaho - Stephen Romano, President and Chief Executive Officer of
American Ecology Corporation [NASDAQ: ECOL], today announced the sale of the
Company's El Centro municipal and industrial waste landfill located near Corpus
Christi, Texas to a subsidiary of Allied Waste Industries, Inc. ("Allied") for
$10 million cash at closing and future volume-based royalty payments.
"Monetizing this non-core asset provides capital for continued expansion of our
core hazardous, industrial and radioactive waste disposal business," Romano
stated, continuing, "And allows us the opportunity to improve our capital
structure by retiring or repaying relatively high cost capital and/or debt
instruments."
"Allied is well positioned to grow El Centro revenue and earnings through
integration with its substantial existing municipal and industrial waste
collection operation, so this is a good deal for both companies," Romano added.
Under the Agreement, the purchase agreement also provides incentives for
Allied to bring certain industrial waste to the Texas Ecologists hazardous waste
facility, and for the Company to utilize the El Centro landfill.
Opened in July 2002, the El Centro solid waste landfill was carried on the
Company's books at approximately $7 million prior to sale and, when combined
with reduction in liabilities and the recognition of certain future minimum
royalties, should result in a pre-tax gain on sale of approximately $5 million,
which will be recognized during the first quarter of 2003.
"While we are no longer in the municipal waste services business, the
Company will remain an active member of the local community through our Texas
Ecologists hazardous waste facility," Romano noted, concluding "We look forward
to focusing future efforts on growth of our core business."
Conference Call
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The fourth quarter and 2002 full year investor conference call will be held
Thursday, February 20, 2002 at 10:00 am Mountain Time. Interested parties may
submit questions in advance to info@americanecology.com, or by facsimile at
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208-331-7900. To join the call, dial 1-877-679-9055. Participants will be asked
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to provide their name and affiliation prior to joining the call.
American Ecology Corporation, through its subsidiaries, provides
radioactive, PCB, hazardous and non-
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hazardous waste services to commercial and government customers throughout the
United States, such as nuclear power plants, steel mills, medical and academic
institutions and petro-chemical facilities. Headquartered in Boise, Idaho,
American Ecology is the oldest radioactive and hazardous waste services Company
in the United States. This press release contains forward-looking statements
that are based on our current expectations, beliefs, and assumptions about the
industry and markets in which American Ecology Corporation and its subsidiaries
operate. Actual results may differ materially from what is expressed herein and
no assurance can be given that the company can successfully implement its core
business growth strategy, generate future earnings, record a $5 million pre-tax
gain on the sale, or realize all possible royalty payments under the El Centro
sale agreement. For information on factors that could cause actual results to
differ from expectations and financial information regarding the classification
of the El Centro assets, please refer to American Ecology Corporation's Report
on Form 10-K, which will be filed with the Securities and Exchange Commission on
February 18, 2003.
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