KBR, Inc.: KBR to Construct Luxury High-Rise Apartment Tower in Bethesda, Md. HOUSTON - April 3, 2014 -- KBR (NYSE:KBR) announced today that KBR Building Group, a subsidiary of KBR and member of KBR Services Business Group, has been awarded a contract by Kettler to construct a luxury, high-rise apartment tower in downtown Bethesda, Md. Currently known as Element 28, the 101-unit building will feature one-, two- and three-bedroom apartments, and approximately 3,500-square-feet of retail on the first level. The 15-floor apartment community, designed by R2L Architects, will offer residents an array of luxury amenities in a boutique building. The Element 28 site is located less than one block away from the Bethesda Metrorail station and within walking distance of high-end shopping districts. Designed to earn LEED Silver certification, Element 28 will showcase a number of sustainable features, including a green rooftop offering indoor/outdoor lounge seating intended for resident gatherings and sweeping views of the Washington metro area. Additional amenities include a wine cellar, bicycle workshop, fitness center, private outdoor terraces and a public plaza featuring a leaf-form architectural sculpture. KBR Building Group's scope of work includes demolition of an existing one-story buildingand is scheduled to beginthis month. Construction of the new building will start immediately afterward. "This is an exciting new development for downtown Bethesda," said Mitch Dauzat, KBR Services Business Group President. "This award mirrors KBR Building Group's customer-focused, best-in-class construction expertise and furthers our long-time partnership with Kettler, known for its traditional planned community concepts and innovative mixed-use designs that maximize limited land in urban areas." Expected revenue from the contract will be included in the second quarter 2014 backlog of unfilled orders for the Services segment.The contract value was not disclosed. About KBR KBR is a global engineering, construction and services company supporting the energy, hydrocarbons, power, industrial, civil infrastructure, minerals, government services and commercial markets. For more information, visit www.kbr.com. Forward Looking Statement The statements in this press release that are not historical statements, including statements regarding future financial performance and backlog information, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from Halliburton Company; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates, escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company. KBR's Annual Report on Form 10-K dated February 27, 2014, Form 10-Q for the quarters ended March 31, 2013, June 30, 2013, and September 30, 2013, recent Current Reports on Forms 8-K, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason. Contact: Zac Nagle Vice President, Investor Relations and Communications 713-753-5082 Investors@kbr.com Richard Goins Director, Corporate Communications 713-751-9471 Mediarelations@kbr.com ### ------------------------------------------------------------------------------ This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: KBR, Inc. via Globenewswire HUG#1773076
KBR, Inc.: KBR to Construct Luxury High-Rise Apartment Tower in Bethesda, Md.
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