MIAMI--(BUSINESS WIRE)--Dec. 26, 2002--Watsco, Inc. (NYSE:WSO) today announced the appointment of William (Bill) Graham to the Company's Board of Directors.

Mr. Graham, 50, is the President and Chief Executive Officer of The Graham Companies, a privately-held company based in Miami Lakes, Florida. The Graham Companies, which was founded in 1932 and employs over 700 people in South Florida and Georgia, is a family of diversified businesses including residential and commercial property development and management and other activities.

A native of Miami, Florida, Mr. Graham graduated from Florida State University with a Bachelor of Science Degree in Business Management. Mr. Graham is also active in numerous South Florida charitable and professional organizations.

"Bill Graham's appointment brings another layer of business-building experience and know-how to our Board," commented Albert H. Nahmad, Watsco's Chairman and Chief Executive Officer. The Graham Companies is a prominent and well-respected enterprise, and has enjoyed many successes under the leadership of Bill Graham. We welcome his entrepreneurship and strong spirit to Watsco's Board of Directors."

Watsco, Inc. is the nation's largest independent distributor of air conditioning, heating and refrigeration equipment and related products in the distribution segment of the HVAC/R industry, currently operating 284 locations serving customers in 30 states. Additional information about Watsco may be found on the Internet at http://www.watsco.com.

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