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To: Jim Bishop who wrote (31756)	2/29/2000 4:31:00 PM
From: SSP	Read Replies (1) \| Respond to of 150070

WAST - WasteMasters, Inc. Settles $972,000 Judgment for Common Shares EL RENO, Okla., Feb. 29 /PRNewswire/ -- WasteMasters, Inc. (OTC Bulletin Board: WAST) announced today that on February 17, 2000 it reached agreement with Michael Paul Bahor to settle an existing judgment in exchange for 350,000 shares of WasteMasters' Common Stock. The judgment against WasteMasters related to the original engineering studies performed at Rye Creek, Missouri. Mr. Bahor had previously received 150,000 shares as part of a preliminary proposal and settled the judgment for an additional 200,000 shares, or 350,000 total shares, of WAST Common Stock. Douglas Holsted, President of the WasteMasters, stated: "I am proud of the Company's continued accomplishments. As we continue to rid ourselves of these matters, WasteMasters grows stronger. Those having unresolved matters against WasteMasters are finding the stock to be a very attractive settlement at current prices. Mr. Bahor has witnessed what has transpired in the stock over recent weeks and now has an opportunity to share in WAST's advancement and not be a cause of hindrance. I appreciate the manner in which he has stepped forward willing to help WAST continue to develop its strategy. I am also quite pleased with the result of this settlement -- we issued stock at $2.78 per share to settle this matter. We continue to be committed to settle those few matters that remain outstanding. As people continue to see the long-term benefits of stock ownership and are willing to accept some of the benefits to hold this stock for a longer term we will be able to settle all outstanding matters." David N. Fuselier of The Ridgefield Group, the Company's consultants stated, "It is evident that Management is continuing to be diligent in its efforts to settle all outstanding legal matters. This particular settlement is interesting because it comes at a time when WasteMasters is preparing to take possession of Rye Creek Landfill. Bahor was one of numerous lawsuits appearing in last year's 10-K. Many of these suits were settled in the last three quarters and will not be a part of the forthcoming 10-K." Leon Blaser, Chairman of WasteMasters agreed, "For some time now we have carried the Bahor judgment on our financials as an accrued liability which reduced WasteMasters equity. With this settlement we will reduce our legal liabilities and increase our net equity by $700,000. There are just a few suits that remain to be settled." For further information contact Douglas Holsted, President of WasteMasters, Inc. at (405) 262-0800. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe WasteMasters' hopes, plans, objectives, goals, intentions, or expectations are forward- looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond WasteMasters' control, will affect actual results. WasteMasters undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with WasteMasters' annual report on Form 10-KSB for the fiscal year ended December 31, 1998 and other filings with the U.S. Securities and Exchange Commission by WasteMasters. SOURCE WasteMasters, Inc. -0- 02/29/2000 /CONTACT: Douglas Holsted, President of WasteMasters, Inc., 405-262-0800/ (WAST)