WGII Washington Grp. International (MM)

BOISE, Idaho and PRINCETON, N.J., March 26 /PRNewswire-FirstCall/ -- Washington Group International (NASDAQ:WGII) announced today that it has been working with GE Energy since November 2006 to provide nuclear engineering and related services in support of the commercial deployment of GE's most advanced reactor design, the ESBWR. The ESBWR is one of only two Generation III+ reactor designs being considered by U.S. utilities and has already been selected for several proposed projects. The new reactor, which features a fully passive safety system, natural circulation, and other significant design simplifications, was submitted to the U.S. Nuclear Regulatory Commission for final design certification review in August 2005. Washington Group will provide engineering, selected procurements, construction, pre-operational testing, and start-up services for the "nuclear island" portion of the ESBWR. Washington Group is also providing support for GE activities to obtain NRC certification of the ESBWR and to complete the detailed design of the reference plant. The nuclear island includes the nuclear steam supply, safety, and reactor auxiliary systems. Engineering work for the reference plant has already begun. Washington Group expects to participate in construction of the ESBWR units as the design is selected for potential new nuclear plant projects. "Nuclear power is critical in meeting the world's growing demands for energy. It not only is a safe and efficient source of energy, but it also emits no global-warming gases. We look forward to this project and a successful partnership with GE on a number of plants throughout the United States," said Lou Pardi, president of Washington Group's Power Business Unit, based in Princeton, N.J. "We have been providing nuclear expertise since the industry's infancy, and this continues our heritage of leadership and innovation." Washington Group has decades of experience working on reactor projects including being the engineer/constructor of 49 nuclear power units around the world including commercial nuclear facilities in the United States, Japan, Taiwan, Mexico, Brazil, Italy, Spain, Sweden, and Switzerland. Washington Group International, which employs more than 7,300 nuclear professionals, has capabilities spanning the full nuclear life cycle -- from uranium mining to licensing, engineering, design, procurement, construction, startup, maintenance, and modification of nuclear power plants to nuclear waste management and helping develop next-generation nuclear technologies, as it does in support of the U.S. Department of Energy. GE Energy (http://www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2006 revenue of $19 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas, and nuclear energy; renewable resources such as water, wind, solar, and biogas; and other alternative fuels. Washington Group International 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: Media, Jerry Holloway or Laurie Spiegelberg, both of +1-208-386-5428, or Investors, Earl Ward, +1-208-386-5698, all of Washington Group International Web site: http://www.ge.com/energy Web site: http://www.wgint.com/

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