WNG Washington Grp Int#

BOISE, Idaho, and LONDON, Aug. 15 /PRNewswire/ -- A joint venture led by Washington Group International (NYSE:WNG) has been selected to negotiate with the U.K. Nuclear Decommissioning Authority (NDA) to operate the U.K.'s national low level nuclear waste repository located in West Cumbria in northern England. Subject to satisfactory conclusion of negotiations, the contract is due to be awarded in October 2007. The NDA estimates the contract could have a value of $400 million to $1 billion (200 million pounds sterling to 500 million pounds sterling) and will have an initial period of five years with the potential of further extension periods, subject to performance and NDA management approval, up to a total of 17 years. The international team, which is comprised of Washington Group International, Studsvik UK, AREVA NC, and Serco Assurance, brings together a unique capability focused on delivering the NDA's low level waste management objectives. The first element of the contract focuses on managing the site and maintaining future capacity of its existing storage vaults. It also includes gaining regulatory approval for a new vault and plans for the long-term future of the site. The second element focuses on developing a U.K.-wide low level waste solution to manage the increased levels of waste expected to be generated by the NDA's planned decommissioning of obsolete nuclear facilities across the country. "Our teaming participants are market leaders in the nuclear decommissioning and waste management industries in the United Kingdom, United States, Sweden, and France. This selection by the NDA validates exactly what we believed when we put our team together," said Stephen G. Hanks, president and chief executive officer of Washington Group International. "This opportunity to help manage the NDA's low level waste operations will enable us to bring our unique capabilities to bear on the challenges of the NDA." Washington Group International is one of the world's leading engineering, construction, and management companies, with more than 25,000 employees at work in more than 40 countries providing solutions in environmental management, power, oil and gas processing, defense, mining, industrial facilities, transportation, and water resources. Over the last 60 years, Washington Group has developed particular expertise in nuclear engineering, nuclear operations, and nuclear waste management and is the market leader in the environmental management, nuclear waste management, and cleanup of nuclear sites for the U.S. government. It has the best safety record in the U.S. nuclear industry, and over the past three decades has managed nuclear waste repositories across the United States. The company also has been responsible for the design, construction, and operation of the first deep geological repository in the United States licensed to dispose of nuclear waste. Washington Group has worked in the United Kingdom since 1999 as a contractor to BNFL, including the U.K. low level waste repository and various Magnox nuclear power stations, and has provided consultancy services to the NDA. Studsvik has 1,200 employees in seven countries and is a leading supplier of services to the international nuclear industry. The company has almost 50 years of experience in nuclear technology and services in a radiological environment. Studsvik operates in a high-growth market and provides qualified services through four strategic business areas: operating efficiency and safety, service and maintenance, waste treatment, and decommissioning. AREVA is the world leader in nuclear power and the only company to cover all industrial activities in this field. AREVA has developed unique experience in spent fuel and high level waste management, and the company's 58,000 employees are committed to continuous improvement on a daily basis, making sustainable development the focal point of the group's industrial strategy. AREVA has manufacturing facilities in 40 countries and a sales network in more than 100 and offers customers reliable technological solutions for carbon-dioxide-free power generation and electricity transmission and distribution. Serco Assurance is a specialist technical support organization working in partnership with organizations in both the public and private sectors, including the nuclear, defense, utilities, and transport industries where the company has a well-established track record both in the United Kingdom and overseas. Serco Assurance is a leading provider of independent safety, risk, and environmental management; plant performance and integrity; and engineering services. Washington Group International (NYSE:WNG) provides the talent, innovation, and proven performance to deliver integrated engineering, construction, and management solutions for businesses and governments worldwide. 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. For more information, visit http://www.wgint.com/. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are identified by the use of forward-looking terminology such as may, will, could, should, expect, anticipate, intend, plan, estimate, or continue or the negative thereof or other variations thereof. Each forward-looking statement, including, without limitation, any financial guidance, speaks only as of the date on which it is made, and Washington Group undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. The forward-looking statements are necessarily based on assumptions and estimates of management and are inherently subject to various risks and uncertainties. Actual results may vary materially as a result of changes or developments in social, economic, business, market, legal, and regulatory circumstances or conditions, both domestically and globally, as well as due to actions by customers, clients, suppliers, business partners, or government bodies. Performance is subject to numerous factors, including demand for new power generation and for modification of existing power facilities, public sector funding, demand for extractive resources, capital spending plans of customers, and spending levels and priorities of the U.S., state and other governments. Results may also vary as a result of difficulties or delays experienced in the execution of contracts or implementation of strategic initiatives. For additional risks and uncertainties impacting the forward-looking statements contained in this news release, please see "Note Regarding Forward-Looking Information" and "Item 1A. Risk Factors" in Washington Group's annual report on Form 10-K for fiscal year 2006. DATASOURCE: Washington Group International CONTACT: U.K. Contact, Martin Adeney, +44-7836-550139; or Energy & Environment, Jack Herrmann, +1-803-502-9791; or Corporate Contacts, Jerry Holloway, or Laurie Spiegelberg, +1-208-386-5255, all for Washington Group International Web site: http://www.wgint.com/

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