THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Watsco, Inc. (WSO)

5/1/2006 Proxy Information

The following is a summary of certain agreements and transactions among related parties and us. It is our policy that any such agreements and transactions must be entered into in good faith and on fair and reasonable terms that are no less favorable to us than those that would be available to us in a comparable transaction in arms-length dealings with an unrelated third party. We believe that all agreements and transactions described below met that standard at the time they were effected.

Mr. Alvarez, a director, is the President and Chief Executive Officer of Greenberg Traurig, P.A. (“Greenberg”), which serves as one of our outside legal counsels and receives customary fees for legal services. During 2005, we paid this firm $171,028 for services performed. We currently anticipate that this arrangement will continue.

From 1991 to 2005, Gary L. Tapella served as the Chief Executive Officer and President of Rheem Manufacturing Company (“Rheem”). Rheem is one of our key equipment suppliers.

4/29/2005 Proxy Information

Mr. Alvarez, a director, is the President and Chief Executive Officer of Greenberg Traurig, LLP (“Greenberg”), which serves as one of our outside legal counsels and receives customary fees for legal services. During 2004, we paid this firm $89,268 for services performed. We currently anticipate that this arrangement will continue.

During 2004, Messrs. Alvarez and Weiser, directors, reimbursed the Company $39,384 and $42,786, respectively, for their use of the corporate aircraft.

4/29/2004 Proxy Information

Mr. Alvarez, a director, is the President and Chief Executive Officer of Greenberg Traurig (“Greenberg”), P.A., which serves as one of our outside legal counsels and receives customary fees for legal services. During 2003, we paid this firm $195,734 for services performed. We currently anticipate that this arrangement will continue.

On April 15, 2002, prior to the enactment of the Sarbanes-Oxley Act of 2002, we granted Mr. Logan, our Senior Vice President, a loan in the amount of $160,000. The loan bore interest at 5%, payable annually. The loan was approved by the Compensation Committee of our Board of Directors and was made on substantially the same terms as those prevailing at the time for comparable transactions with unrelated persons and did not involve more than normal risk of collectibility. The loan was repaid, including accrued interest, in June 2003. We have complied with and will operate in a manner consistent with legislation enacted in July 2002 prohibiting extensions of credit in the form of a personal loan to or for our directors and executive officers.

4/30/2003 Proxy Information

On April 15, 2002, we granted Mr. Logan, our Vice President—Finance, a loan in the amount of $160,000 for the purchase of a primary residence. The loan bears interest at 5%, payable annually, and matures on April 15, 2007. The loan was approved by the Compensation Committee of our Board of Directors and was made on substantially the same terms as those prevailing at the time for comparable transactions with unrelated persons and does not involve more than normal risk of collectibility. We have complied with and will operate in a manner consistent with legislation enacted in July 2002 prohibiting extensions of credit in the form of a personal loan to or for our directors and executive officers.

Mr. Alvarez, a director, is the President and Chief Executive Officer of Greenberg Traurig, P.A., which serves as one of our outside legal counsels and receives customary fees for legal services. During 2002, we paid this firm $43,346 for services performed. We currently anticipate that this arrangement will continue.