Synagro Technologies Announces Stockholder Approval of the Proposed Merger with Affiliates of The Carlyle Group

  
    
  
  
    
      Synagro Technologies, Inc. (NasdaqGM:SYGR) announced today that 
      its stockholders approved the Agreement and Plan of Merger (the “Merger 
      Agreement”) among Synagro, Synatech Holdings, 
      Inc. (“Parent”), and 
      Synatech, Inc., whereby Synagro will become a wholly owned subsidiary of 
      Parent, an affiliate of The Carlyle Group (“Carlyle”). 
      As a result of this approval, the parties expect to consummate the 
      merger on April 2, 2007, in accordance with the terms of the Merger 
      Agreement.
    
    
      Additionally, as contemplated by the Merger Agreement, Synagro announced 
      that its Board of Directors has declared a cash dividend to all of its 
      stockholders of record as of the close of business today, March 29, 
      2007, as contemplated by the Merger Agreement. The amount of the 
      dividend will be $0.10 per share multiplied by a fraction, the numerator 
      of which is the number of days beginning on February 28, 2007 and ending 
      on the closing date of the merger, and the denominator of which is 90 
      days as provided in the Merger Agreement. The dividend will be paid as 
      promptly as practicable after the closing of the merger.
    
    
      About Synagro
    
    
      Synagro believes that it is the largest recycler of biosolids and other 
      organic residuals in the United States and is the only national company 
      focused exclusively on the estimated $8 billion organic residuals 
      industry, which includes water and wastewater residuals. The Company 
      serves more than 600 municipal and industrial water and wastewater 
      treatment accounts with operations in 33 states and the District of 
      Columbia. The Company offers a broad range of water and wastewater 
      residuals management services focusing on the beneficial reuse of 
      organic, non-hazardous residuals resulting from the wastewater treatment 
      process, including drying and pelletization, composting, product 
      marketing, incineration, alkaline stabilization, land application, 
      collection and transportation, regulatory compliance, dewatering, and 
      facility cleanout services. Additional information about the Company is 
      available at www.synagro.com.
    
    
      About Carlyle
    
    
      The Carlyle Group is a global private equity firm with $56.0 billion 
      under management. Carlyle invests in buyouts, venture & growth capital, 
      real estate, and leveraged finance in Asia, Europe and North America, 
      focusing on aerospace & defense, automotive & transportation, consumer & 
      retail, energy & power, healthcare, industrial, technology & business 
      services, and telecommunications & media. Since 1987, the firm has 
      invested $26.4 billion of equity in 601 transactions for a total 
      purchase price of $126.5 billion. The Carlyle Group employs more than 
      780 people in 18 countries. In the aggregate, Carlyle portfolio 
      companies have more than $68 billion in revenue and employ more than 
      200,000 people around the world. Additional information about Carlyle is 
      available at www.carlyle.com.
    
    
      The foregoing contains forward-looking statements, the results of which 
      may materially differ from those implied due to known and unknown risks 
      and uncertainties, some of which are discussed below.
    
    
      Safe Harbor Statement
    
    
      This press release contains certain forward-looking statements, 
      within the meaning of the Private Securities Litigation Reform Act of 
      1995, which involve known and unknown risks, uncertainties or other 
      factors not under Synagro’s control which may 
      cause the actual results, performance or achievement of Synagro to be 
      materially different from the results, performance or other expectations 
      implied by these forward-looking statements. These factors 
      include, but are not limited to, risks associated with consummating our 
      pending merger.