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Japan's National Police Agency Awards Waters Corporation $8M Contract

Order is Company's Largest Ever

MILFORD, Mass.--(BUSINESS WIRE)--Jan. 21, 1999--The National Police Agency in Japan has awarded Waters Corporation (NYSE:WAT - news) an $8M contract for liquid chromatography/mass spectrometry systems. It is Waters' largest single order ever.

Police laboratories across Japan will take delivery of these products in 1999. Waters' subsidiary in Japan, Nihon Waters K.K., is now working with the National Police Agency to educate, train and support the contingent of scientists assigned to operate the instrumentation.

Liquid chromatography/mass spectrometry (LC/MS) instruments are very sensitive scientific instruments for measuring and identifying trace amount of chemicals in urine, blood, water, and thousands of other samples. Waters' systems combine its core HPLC technology with the mass spectrometry technology of its Micromass Limited subsidiary, acquired in 1997. While most such instruments in use today are employed by drug discovery chemists in the pharmaceutical industry, forensic scientists rely on them to investigate crimes. The United States Federal Bureau of Investigation, Bureau of Alcohol, Tobacco, and Firearms, and municipal police departments are similarly equipped to analyze the aftermath of poisonings, bombings, and other crimes for residual trace chemicals.

Waters Corporation holds worldwide leading positions in three complementary analytical instrument technologies -- high performance liquid chromatography, thermal analysis, and mass spectrometry -- which account for $3 billion in annual revenue of the $14 billion analytical instrument industry total.

CAUTIONARY STATEMENT

Certain statements contained herein are forward looking. Many factors could cause actual results to differ from these statements, including loss of market share through competition, introduction of competing products by other companies, pressures on prices from competitors and/or customers, regulatory obstacles to new product introductions, lack of acceptance of new products, changes in the healthcare market and the pharmaceutical industry, changes in distribution of the Company's products, and interest rate and foreign exchange fluctuations. Such factors are discussed in detail in the Company's filings with the Securities and Exchange Commission.