Fluor Transurban Team Celebrates Early Opening of New I-495 Express Lanes in Northern Virginia

  Fluor Transurban Team Celebrates Early Opening of New I-495 Express Lanes in
  Northern Virginia

    Governor and Dignitaries Conduct Ribbon-Cutting for New Express Lanes

Business Wire

IRVING, Texas -- November 13, 2012

Fluor Corporation (NYSE: FLR) announced today that Capital Beltway Express
LLC, a concession formed by Fluor and Transurban, has reached substantial
completion for the new I-495 Express Lanes in Northern Virginia. Designed and
built to relieve traffic congestion around the greater Washington, D.C. area,
the four new high occupancy toll (HOT) lanes project was financed through an
innovative public-private partnership between Fluor, Transurban and the
Virginia Department of Transportation (VDOT).

The early opening was celebrated today with a ribbon cutting ceremony that was
attended by numerous federal, state and local elected and appointed officials
including Virginia Governor Bob McDonnell and Federal Highway Administrator
Victor Mendez along with Fluor and Transurban representatives and members of
the project team.

"The opening of the 495 Express Lanes means opportunity for Virginia," said
Governor Bob McDonnell. "The project not only helped create jobs during
construction, but will continue to make Northern Virginia a more attractive
place to work and live. The Express Lanes will open the region for business by
providing better access to key employer centers and delivering the
infrastructure needed to grow businesses and create additional jobs."

"Fluor's innovative design-build solutions allowed the project to finish ahead
of schedule, under budget and save several hundred homes that would have been
impacted by the original plan," said Steve Dobbs, senior group president for
Fluor's Industrial & Infrastructure Business Group. "We are especially
gratified to be able to positively impact the local economy by opening the
project early and supporting local businesses during one of their busiest
shopping times of the year."

“Fluor is pleased to reach this important milestone and see the Express Lanes
open a month ahead of schedule for local motorists,” said Herb Morgan, senior
vice president of Fluor’s Infrastructure business. “Working with our
colleagues at VDOT has been a pleasure and we look forward to building on
those relationships as we commence the adjoining I-95 project.”

“The public-private partnership method, used to bring the I-495 project to
fruition, is an excellent example of how industry can successfully partner
with government agencies to deliver needed improvements to state and local
infrastructure,” said Morgan.

The 495 Express Lanes project spans 14 miles of the Capital Beltway in
northern Virginia just outside of the nation’s capital. Completing the new
lanes required the replacement of more than 57 bridges and upgrades to 12 key
interchanges.

The project began in 2007 when Fluor-Transurban signed a Comprehensive
Development Agreement with VDOT to design, construct, finance, and operate the
newExpress Lanes system. After a series of public meetings and environmental
studies, the project was approved, funded, and construction began in the
summer of 2008.

“We are proud of the hard work and dedication from our project team to make
this project a success,” said Mitch Lester, Fluor’s I-495 project director.
“The Capital Beltway is the second-highest traveled roadway in the nation, and
the new Express Lanes will relieve a great deal of the current traffic
congestion. We are appreciative of all the stakeholders in the region – local
elected officials, businesses owners and the travelling public – who were
patient and worked with us during this five-year project.”

While completing the new Express Lanes, the Fluor-Lane design-build team
reached a safety milestone in September 2012 by completing 5 million safe work
hours without a lost time incident. The construction team achieved this
success while working on an active highway on which more than 200,000 vehicles
travel in and around the work zone each day.

For more information on the I-495 Express Lanes project and details on how to
use the new lanes, please visit www.495expresslanes.com.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the
world's most challenging and complex projects. Founded in 1912, the company
was started by John Simon Fluor Sr. with a modest investment of $100. Since
those humble beginnings, the company has grown into one of the largest
engineering & construction companies in the world. Fluor is celebrating its
100^th anniversary during 2012.

Today, through its global network of offices on six continents, the company
provides comprehensive capabilities and world-class expertise in engineering,
procurement, construction, commissioning, operations, maintenance and project
management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and
had revenue of $23.4 billion in 2011. For more information, visit
www.fluor100.com and www.fluor.com.

Contact:

Fluor Corporation
Media Relations
Keith Stephens, 469-398-7624
or
Brian Mershon, 469-398-7621
or
Investor Relations
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222
 
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