Covanta Holding Corporation Announces Plans To Begin Trading on the New York Stock Exchange on October 5, 2005

FAIRFIELD, N.J., Sept. 30  /PRNewswire-FirstCall/ -- Covanta Holding Corporation, formerly Danielson Holding Corporation, (AMEX:DHC) announced today that it intends to move to the New York Stock Exchange (NYSE) with trading to commence on October 5, 2005.  Covanta Holding Corporation will trade on the NYSE under the symbol CVA.

Covanta Holding Corporation, formerly Danielson Holding Corporation, is engaged in waste disposal, energy services and specialty insurance through its subsidiaries. Covanta Holding Corporation's subsidiary, Covanta Energy Corporation, is an internationally recognized owner and operator of waste-to-energy and power generation projects.  Covanta Energy's waste-to-energy facilities convert municipal solid waste into renewable energy for numerous communities, predominantly in the United States.

NOTE:  Covanta Holding Corporation's charter contains restrictions that prohibit parties from acquiring 5% or more of Covanta Holding Corporation's common stock without its prior consent.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission, all as may be amended from time to time.  Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Covanta Holding and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.  Statements that are not historical fact are forward-looking statements.  Forward looking statements can be identified by, among other things, the use of forward-looking language, such as the words "plan," "believe," "expect," "anticipate," "intend," "estimate," "project," "may," "will," "would," "could," "should," "seeks," or "scheduled to," "proposed," or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions.  These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws.  Covanta cautions investors that any forward-looking statements made by Covanta Holding are not guarantees or indicative of future performance.  Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Covanta Holding, include, but are not limited to, those factors, risks and uncertainties that are described in Item 1 of Covanta Holding's Annual Report on Form 10-K for the year ended December 31, 2004, as amended, and in other securities filings by Covanta Holding or Covanta Energy.

Although Covanta Holding believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements.  Covanta Holding's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties.  The forward-looking statements contained in this press release are made only as of the date hereof and Covanta Holding does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law. 

DATASOURCE: Covanta Holding Corporation



CONTACT:  Elizabeth O'Melia, [phone], or Doreen Lubeck,

[phone], both of Covanta Holding Corporation

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