Progressive Waste (BIN) Increases Buyback Plan by $300M

Progressive Waste Solutions Ltd. (NYSE: BIN) has authorized a $300 million increase to the Company's share repurchase program. The Board of Directors also authorized an extension of the program's term through December 31, 2014, to be implemented in accordance with Toronto Stock Exchange regulations.

This repurchase authorization is in addition to the amount remaining under the Company's existing normal course issuer bid ("NCIB"), which authorizes the repurchase of up to 4,000,000 common shares between August 19, 2011 and August 18, 2012. As of December 16, 2011, approximately 2.5 million common shares have been purchased at a total cost of US$53.4 million under the NCIB. Including the repurchase of one million common shares in the secondary offering of common shares held by TC Carting III, L.L.C., total shares repurchased in 2011 amount to approximately 3.5 million common shares at a total cost of $76.9 million.

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