MILFORD, Mass.–Jan. 12, 2009–Waters Corporation (NYSE: WAT) announced today that fourth quarter 2008 preliminary sales are approximately $418 million.

On December 11, 2008, the Company revised its fourth quarter 2008 sales and earnings outlook due to anticipated reduced sales volume resulting from weaker global economic conditions, constrained capital spending and unfavorable foreign currency translation impacts. In the revised outlook, the Company anticipated achieving fourth quarter 2008 revenues in the range of $410 million to $420 million.

In addition to the effects of unfavorable foreign currency translation, factors that appeared to significantly influence fourth quarter 2008 revenues include: slower spending by more economically sensitive chemical manufacturers, continued weak demand from the global pharmaceutical industry and reduced sales in some developing economies, offset to a degree by stable sales growth of the Company’s recurring revenue product lines and continued strong sales growth in China.

Waters plans to present a detailed analysis of its fourth quarter and full year 2008 business results in its fourth quarter earnings release and subsequent conference call scheduled for January 27, 2009, at 8:30 a.m. eastern time. To listen to the conference call, connect to Waters’ website www.waters.com, choose “Investors” and click on the live webcast. A replay of the webcast will be available until February 3rd at midnight eastern time.

Looking at 2009, market trends that may influence the Company’s 2009 performance include an anticipated continuation of challenging market conditions experienced during the fourth quarter of 2008 into the first half of 2009 and an adverse effect of foreign currency translation on revenues from overseas shipments, based on current exchange rate trends. Operationally, we anticipate that new instrument system introductions and continued growth of the Company’s recurring revenue lines should benefit sales, while prudent expense management and continued optimization of the Company’s manufacturing strategy should benefit operating profits. As a result of these market trends and operational activities, the Company at present expects to generate significant free cash flow to fund select acquisitions and continue its stock repurchase program. Waters plans to present a more detailed outlook of its 2009 business prospects, including anticipated sales and earnings, in its fourth quarter earnings release and subsequent conference call scheduled for January 27, 2009.