Press Release
(March 29, 2007)

Press Release

Bethesda, Md., March 29, 2007 – A U.S. industry team formed by AREVA Inc., Washington Group International (NYSE: WNG) and BWX Technologies, Inc. today announced the addition of a new team member, Japan Nuclear Fuel Ltd. (JNFL), as it prepares to respond to upcoming opportunities with the U.S. Department of Energy (DOE).

The four-member collaboration fully endorses the DOE’s Global Nuclear Energy Partnership (GNEP) vision and brings unparalleled domestic and international expertise to support the program. Under GNEP, the DOE is seeking industry’s interest in a Nuclear Fuel Recycling Center and an Advanced Recycling Reactor to close the nuclear fuel cycle in the United States. This recycling initiative will make nuclear energy a truly sustainable energy resource.

“Our integrated team brings years of experience working together globally, with the DOE and the national laboratories,” said Michael McMurphy, president of Maryland-based AREVA Inc. “We believe our team reflects the ‘Global’ and ‘Partnership’ aspects of GNEP. We’re ready to support the DOE and the nuclear energy industry by establishing the U.S. as a key player in fuel cycle technology and by providing confidence in our nation’s ability to meet its nuclear waste management responsibilities.”

With the addition of JNFL’s vast expertise in developing and operating its Rokkasho Reprocessing Plant in Japan, the industry group brings together state-of-the-art technical capability, advanced safeguards and international regulatory experience, and unmatched industry know-how in the design, construction and operation of the Nuclear Fuel Recycling Center proposed in GNEP.

The companies fully support DOE’s vision to develop advanced technologies to recycle used light-water reactor nuclear fuel, reduce waste and further limit the risk of nuclear proliferation while developing a sustainable business plan with public and private participation.

More about the partners:

Japan Nuclear Fuel Ltd. (JNFL) is Japan's pioneer company in the field of commercial used nuclear fuel reprocessing as well as uranium enrichment, storage and disposal of nuclear waste and Mixed-Oxide fuel fabrication. In Rokkasho-mura, Aomori Prefecture, the test operation of the world’s newest commercial reprocessing plant, for which JNFL applied state of the art reprocessing technology and implemented IAEA's full scope safeguards capability, is successfully in progress. The mission of JNFL is to establish nuclear fuel cycle technologies for the peaceful use of nuclear energy.

AREVA is the largest U.S. nuclear energy vendor and the world’s largest fuel cycle company. AREVA has been at the forefront of development, deployment and operations of treatment and recycling facilities as well as sodium-cooled reactors. Headquartered in Bethesda, MD, AREVA Inc.’s 5,000 U.S. energy employees are committed to serve the nation and pave the way for the future of the electricity market. With 40 locations across the nation and nearly $2 billion in energy revenues in 2006, AREVA Inc., through its subsidiaries combines homegrown leadership, access to worldwide expertise and a proven track record of performance. In the U.S. and in over 100 countries around the world, AREVA is engaged in the 21st century’s greatest challenges: making energy available to all, protecting the planet, and acting responsibly towards future generations.

A primary contractor for the U.S. Department of Energy and its predecessor agencies since 1942, Washington Group International is a global leader in engineering, procurement, construction, pre-operational testing, start-up and safe and efficient operation of complex nuclear and non-nuclear facilities. Headquartered in Boise, Idaho, with more than $3 billion in annual revenue, the company has approximately 25,000 people at work around the world providing solutions in power, environmental management, defense, oil and gas processing, mining, industrial facilities, transportation, and water resources.

BWX Technologies, Inc. has a 50-year history of owning and operating nuclear and national security production facilities both commercially and for the DOE. BWXT is licensed by the Nuclear Regulatory Commission to fabricate, process, use and store highly enriched uranium. BWXT currently has a contract with the DOE at its Lynchburg Technology Center where it has demonstrated that spent nuclear fuel can be temporarily stored, transferred and repackaged safely and securely. BWXT is a wholly owned subsidiary of McDermott International, Inc. (NYSE: MDR), a leading worldwide energy services company.