Slater has already made two enterprising centuries in the opening three Tests of the Ashes series against England, but Waugh's 126 was his first three-figure score of the season and came as a welcome relief after the controversy surrounding revelations that he, along with Shane Warne, accepted money from an Indian bookmaker four years ago.
``It is nice to get runs and get your confidence going,'' Waugh said. `` It's been a pretty tough week or two. It would be much worse if I wasn't making any runs, so it's good that I'm making runs and feeling good within myself.''
Slater made 113 and with Shane Lee, who has been linked with a possible return as Somerset's overseas player next season, hitting an unbeaten 71, New South Wales finished on 362 for four.
The match between Western Australia and South Australia also ended in a draw, but the match at least yielded a notable individual landmark as Jamie Siddons became the first player to reach 10,000 runs in the 106-year history of the Sheffield Shield.
Siddons, 34, made 125 not out, his 29th hundred in the competition, to take his shield tally to 10,022 runs at an average of 46.61, but after South Australia's declaration at 209 for six Western Australia held out for a draw on 174 for eight.
Only three other players, all retired, have topped 9,000 runs in the competition. Victoria's Dean Jones made 9,622 at 54.06, South Australian David Hookes 9,364 at 47.77 and John Inverarity (Western Australia and South Australia) 9,341 at 38.44. Don Bradman (New South Wales and South Australia) totalled 8,926 but at an average of 110.19 when there were far fewer games.
South Australia took two points for leading on the first innings and keep their position at the top of the six-team table.