Cavendish Fluor Partnership Selected as Preferred Bidder for Magnox and RSRL Competition

  Cavendish Fluor Partnership Selected as Preferred Bidder for Magnox and RSRL
  Competition

Business Wire

IRVING, Texas -- March 31, 2014

Fluor Corporation (NYSE: FLR) announced today that the United Kingdom Nuclear
Decommissioning Authority (NDA) selected the Cavendish Fluor Partnership as
the preferred bidder in the competition to take ownership of Magnox Ltd and
Research Sites Restoration Limited (RSRL), the Site License Companies that
manage and operate 12 UK nuclear sites. It is anticipated that this contract
will provide savings in excess of $1.6 billion in the decommissioning program
for the 12 nuclear sites.

“We are pleased our joint venture with Cavendish Nuclear has been selected as
the preferred bidder for this prominent nuclear contract,” said Bruce Stanski,
president of Fluor’s Government Group. “We look forward to bringing our
expertise gained from decades of managing and operating nuclear
decommissioning sites.”

“The selection of Cavendish Fluor Partnership as the preferred bidder is a
significant step in our drive to attract world-class management and innovation
to our sites,” said John Clarke, NDA Chief Executive. “The Cavendish Fluor
Partnership brings a successful track record and extensive nuclear experience
that will bring enormous benefits to the decommissioning and clean-up
program.”

Cavendish Fluor Partnership will begin a five-month contract transition phase
following a 10-day standstill period. Once transition is complete, Cavendish
Fluor Partnership will become the new Parent Body Organization and take
ownership of Magnox Ltd and RSRL.

“Being selected as preferred bidder is a fantastic achievement,” said Roger
Hardy, Cavendish Nuclear’s Managing Director. “The Cavendish Fluor Partnership
brings together outstanding international decommissioning, operational and
site management expertise and we look forward to working with the Magnox and
RSRL teams to deliver the sites’ program safely and cost effectively.”

Magnox Ltd is responsible for decommissioning 10 Magnox reactor sites, located
in England, Scotland and Wales, which were the first generation of civil
nuclear power plants in the UK built during the 1950s and 60s. RSRL is
responsible for decommissioning two pioneering nuclear research centers at
Harwell and Winfrith.

For more information on the contract competition, please visit:
http://www.nda.gov.uk/contracts/competition/magnox-rsrl.cfm

Cavendish Fluor Partnership is a joint venture between Cavendish Nuclear, a
wholly-owned subsidiary of Babcock International Group plc, and Fluor.

About Cavendish Nuclear

Cavendish Nuclear is the UK's largest specialist nuclear support services
organization. Cavendish Nuclear brings together the rich heritage of the UK’s
capabilities in nuclear energy to offer unrivalled experience and expertise
across the life cycle of nuclear power plant. This expertise, combined with
our experience as a nuclear site licensee and operator, enables Cavendish
Nuclear to provide safe, effective solutions for the entire nuclear lifecycle,
from design and build, through operation and maintenance, to decommissioning,
waste management and remediation.

Cavendish Nuclear is a wholly-owned subsidiary of Babcock International Group
plc.
(www.cavendishnuclear.com)

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm
that designs and builds some of the world's most complex projects. The company
creates and delivers innovative solutions for its clients in engineering,
procurement, fabrication, construction, maintenance and project management on
a global basis. For more than a century, Fluor has served clients in the
energy, chemicals, government, industrial, infrastructure, mining and power
market sectors. Headquartered in Irving, Texas, Fluor ranks 110 on the FORTUNE
500 list. With more than 40,000 employees worldwide, the company's revenue for
2013 was $27.4 billion. Visit Fluor at www.fluor.com and follow on Twitter
@FluorCorp.

Contact:

Fluor Corporation
Media Relations
Brian Mershon, 469-398-7621
or
Eric Krantz, 281-263-6030
or
Investor Relations
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222
 
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