WGII Washington Grp. International (MM)

BOISE, Idaho, March 8 /PRNewswire-FirstCall/ -- Washington Group International (NASDAQ:WGII) announced today that it has been selected by Mitsubishi Heavy Industries, Ltd. (MHI), to provide design certification document engineering and licensing services to support MHI's plans to launch its new advanced pressurized water reactor model, the US-APWR, in the U.S. market. Washington Group will perform services to prepare the design certification document to assist MHI efforts to obtain Nuclear Regulatory Commission certification of the US-APWR design. After the design certification document has been approved, Washington Group will leverage its nuclear industry and regulatory expertise to support MHI's introduction of its technology in the United States. "Nuclear power is expected to return to prominence in meeting growing energy needs," said Lou Pardi, president of Washington Group's Power Business Unit. "Washington Group International has been providing nuclear expertise since the industry's infancy, and this project continues our heritage of leadership and innovation. We plan to be involved with several new nuclear technologies in order to serve the current and future owners of new nuclear plants worldwide." The US-APWR-a 1,700-megawatt-class advanced pressurized water reactor-is based on established APWR technology in place in Japan. MHI and Washington Group will build on lessons learned in the Japanese APWR program. In addition, both companies are working toward an arrangement for project management and construction services in the U.S. market. MHI anticipates submitting the design certification application for its US-APWR to the NRC by the end of 2007. 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 decommissioning and waste management. Washington Group has engineered and/or constructed 49 nuclear power units around the world including commercial nuclear facilities in the United States, Japan, Taiwan, Mexico, Brazil, Italy, Spain, Sweden, and Switzerland. About the Companies Mitsubishi Heavy Industries, Ltd., headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers. Its diverse lineup of products and services encompasses shipbuilding, steel structures, power plants, chemical plants, environmental equipment, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. Washington Group International (NASDAQ:WGII) provides the talent, innovation, and proven performance to deliver integrated engineering, construction, and management solutions for businesses and governments worldwide. 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, +1-208-386-5255, or Investors, Earl Ward, +1-208-386-5698, all of Washington Group International Web site: http://www.wgint.com/

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