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Waters Corporation Added to S&P 500 Index

Company Replaces FMC Corporation

Milford, MA, Thursday, January 2, 2002—Standard and Poors added Waters Corporation to its S&P 500 Index at the close of trading Monday, December 31. Waters replaces FMC Corporation, a chemical company.

Waters Corporation is now a component of the S&P 500 Electronic Equipment and Instruments sub-industry group. Until now, Waters has been a component of the S&P Midcap 400 Index.

About the S&P 500 Index

Widely regarded as the standard for measuring large-cap U.S. stock market performance, this popular index includes a representative sample of leading companies in leading industries. The S&P 500 is used by 97% of U.S. money managers and pension plan sponsors. More than $1 trillion is indexed to the S&P 500.

About Waters Corporation

For 40 years, the Waters (NYSE: WAT) name has been synonymous with superior quality, innovation, and leadership in HPLC. As the largest company in the industry devoted to HPLC, thermal analysis, and mass spectrometry, Waters reported record revenues of $795M in 2000 and has 3,500 employees.

Contact: Brian Mazar, Investor Relations, 508-482-2913