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Washington Group International's SGT Joint Venture to Provide Steam Generator Replacement Services at St. Lucie Nuclear Power Plant

Posted on: Wednesday, 17 August 2005, 12:00 CDT

BOISE, Idaho, and HUTCHINSON ISLAND, Fla., Aug. 17 /PRNewswire-FirstCall/ -- Washington Group International, Inc. announced today that SGT LLC, its joint venture with Framatome ANP, has been awarded a contract by Florida Power & Light Company to provide services for replacing steam generators at the St. Lucie Nuclear Power Plant Unit 2.

SGT will provide project management, planning, engineering, and construction services for the installation of two replacement steam generators at St. Lucie Unit 2. The work is scheduled to take place during a refueling outage in 2007.

SGT already is under contract to install a replacement reactor vessel closure head (RVCH) at the St. Lucie Unit 2 during the same 2007 outage. In addition, SGT will install a RVCH and pressurizer at the St. Lucie Unit 1 in the fall of 2005. SGT previously installed replacement steam generators at the St. Lucie Unit 1 in 1997.

Florida Power & Light Company owns and operates the two nuclear reactors at the St. Lucie plant, which is located on Hutchinson Island midway between Stuart and Fort Pierce, Florida. The units generate a total of approximately 1,700 megawatts of electrical power.

"We are very pleased to continue to support the Florida Power & Light Company's nuclear power program," said Louis E. Pardi, president of Washington Group's Power Business Unit. "SGT's meticulously planned, safety-conscious approach has helped it set the industry standard for top performance under aggressive project schedules."

Steam generators are used in pressurized water reactor nuclear plants to transfer heat from water heated under pressure inside the reactor to a second, closed-water system that turns the heat to steam that drives the turbine-generator to make electricity.

Florida Power & Light Company is a principal subsidiary of FPL Group, which has annual revenues of more than $10 billion and is nationally known as a high quality, efficient, and customer-driven organization focused on energy-related products and services. Florida Power & Light serves more than 4.2 million customer accounts in Florida.

SGT LLC is one of only two firms providing services for large component replacement services for nuclear power clients in the United States. It has completed steam generator or reactor vessel head replacements at nuclear power plants in Wisconsin, Michigan, North Carolina, New Jersey, Florida, New York, Maryland, South Carolina, and Minnesota, setting several domestic and international records for key schedule durations.

Framatome ANP is a subsidiary of AREVA, which has manufacturing facilities in more than 40 countries and a sales network in over 100. AREVA offers its clients technological solutions for nuclear energy and transmission and distribution. The group also provides interconnect systems to the telecommunications, computer and automotive markets.

About the Company

Washington Group International, Inc. (http://www.wgint.com/) provides the talent, innovation, and proven performance to deliver integrated engineering, construction, and management solutions for businesses and governments worldwide. With approximately 25,000 employees at work in more than 30 countries, the company provides professional, scientific, management, and development services in more than two dozen major markets including power generation, transmission and distribution, and clean air solutions; environmental remediation; heavy civil construction; mining; nuclear services; defense, homeland security, and global threat reduction; industrial, chemical, and pharmaceutical processing; manufacturing; facilities operations and management; transportation; and water resources.

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 1. Business -- Risk Factors" in Washington Group's annual report on Form 10-K for fiscal year 2004.

Washington Group International, Inc.

CONTACT: Media, Laurie Spiegelberg or Rod Hunt, +1-208-386-5255, orInvestors, Earl Ward, +1-208-386-5698, all of Washington Group International,Inc.

Web site: http://www.wgint.com/

Source: PRNewswire-FirstCall

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