MARCH 14, 2008 - COVANTA INDIANAPOLIS RECOGNIZED BY EPA FOR ENVIRONMENTAL EXCELLENCE

Indianapolis, March 14, 2008 — Covanta Energy Corporation, the leading provider of Energy-from-Waste solutions, today announced that its Covanta Indianapolis operations have been recognized for environmental excellence by being accepted into the U.S. Environmental Protection Agency’s (EPA) National Environmental Performance Track. Covanta Indianapolis operates the Indianapolis Resource Recovery Facility, which serves the residents of the city and Marion County. The facility processes more than 2,000 tons-per-day of solid waste while generating up to 4,500 pounds of steam per ton of waste. The generated steam is used by the City within the downtown steam loop. The Performance Track is a voluntary partnership program that encourages continuous environmental improvement and recognizes facilities that exceed current regulatory requirements.

“Covanta is driven to provide clean, renewable energy to the city of Indianapolis. Our commitment to environmental performance is critical to that effort and it is a great achievement to be participating in the National Performance Track,” said David Sharp the Facility Business Manager. “Covanta and its employees are honored that the EPA has recognized us for this effort.”

To qualify for Performance Track designation, facilities must meet all federal regulatory requirements and establish goals for environmental improvement above and beyond their legal requirements. Members include major corporations, small businesses, and public facilities. Twenty-three of Covanta’s facilities, including Covanta Indianapolis, have received this recognition.

ABOUT COVANTA
Covanta Energy Corporation is a subsidiary of Covanta Holding Corporation (NYSE: CVA), an internationally recognized owner and operator of energy-from-waste and renewable energy projects. Covanta’s energy-from-waste facilities convert municipal solid waste into renewable energy for numerous communities, predominantly in the United States. As a world premier operator of large-scale energy-from-waste facilities, Covanta is proud to offer an environmentally sound solution to communities’ solid waste disposal needs. With 34 facilities in the United States, Covanta uses municipal solid waste as a fuel to generate clean, renewable energy. Covanta’s modern energy-from-waste facilities safely and securely turn 15 million tons of waste into more than 8 million megawatt hours of clean renewable electricity each year and create 10 billion pounds of steam that are sold to a variety of industries. For more information, visit www.covantaenergy.com.

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 (“SEC”), 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 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," 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 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, include, but are not limited to, those factors, risks and uncertainties that are described in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2007, and in securities filings by Covanta with the SEC.

Although Covanta 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'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 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.

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For more information contact:
Vera Carley, Media Relations Manager
Covanta Energy
973-882-2439
vcarley@covantaenergy.com

Derek Porter, Director of External Affairs
Covanta Energy
703-236-2817
dporter@covantaenergy.com