MIAMI, Jul 1, 2002 (BUSINESS WIRE) -- Watsco, Inc. (NYSE:WSO) announced today that its Board of Directors has declared regular quarterly cash dividends of 3.0 cents per share on both its Common Stock and Class B Common Stock. The cash dividends are payable on July 31, 2002 to shareholders of record as of July 15, 2002.

Watsco, Inc., with 2001 revenue of $1.2 billion, 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 286 locations and serving over 35,000 contractor customers in 31 states. The Company is actively pursuing opportunities for further growth throughout the country. Additional information about Watsco may be found on the Internet at http://www.watsco.com.

CONTACT: Watsco, Inc., Coconut Grove, Fla. Barry S. Logan, 305/714-4102 e-mail: blogan@watsco.com http://www.watsco.com URL: http://www.businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.

Copyright (C) 2002 Business Wire. All rights reserved.