Abstract: A weep screed for use in exterior construction has a vertical member and upper and lower outwardly projecting flanges affixed to the vertical member. The vertical member is adapted to be form-fit to the base of a vertical wall overlying a concrete foundation. The upper outwardly projecting flange is coextensive with the length of the screed and has a plurality of apertures therein, the apertures being spaced from one another along the length of the weep screed to provide drainage for water accumulating on an upper surface of the upper outwardly projecting flange. The lower outwardly projecting flange, which is coextensive in length with the upper outwardly projecting flange, is impermeable to water. The lower flange collects water received from the upper member and directs the flow of such water outwardly, away from the vertical wall and foundation.