Washington Group Selected to Provide Engineering, Procurement, Construction Services for Wisconsin Power Plant

Business Wire, May 2, 2002

Business Editors

BOISE, Idaho--(BUSINESS WIRE)--May 2, 2002

Washington Group International announced today that it has been selected to provide engineering, procurement, and construction services to W.E. Power LLC for a new 500-megawatt, combined cycle, natural gas-fueled power plant to be built at Port Washington, Wisconsin.

We Power is a non-regulated energy development unit of Wisconsin Energy Corporation established last year to design, build, and own new generation in Wisconsin.

The Port Washington project forms part of Wisconsin Energy's "Power the Future" plan to add approximately 2,800 megawatts of new electric generating capacity in Wisconsin to ensure reliable and affordable supplies of electric energy for the state's future. Washington Group will commence detailed engineering immediately. Construction will follow, pending approval of the project by the Public Service Commission of Wisconsin.

The new Port Washington unit will be located on Lake Michigan at the site of the company's Port Washington power plant and will be operated by We Energies, the principal utility subsidiary of Wisconsin Energy. The new unit will consist of two combustion turbines, two heat recovery steam generators, and one steam turbine.

"We recognize the significance of the Port Washington project to Wisconsin Energy and its efforts to assure affordable, reliable and quality electric service to its customers," said Stephen G. Hanks, president and chief executive officer of Washington Group. "A project of this magnitude is a greatly appreciated opportunity to extend and strengthen our long-standing commitment to Wisconsin Energy."

Washington Group has a history of successful projects with Wisconsin Energy, including the replacement of steam generators at Wisconsin Electric's Point Beach Nuclear Plant. The company is presently installing selective catalytic reduction (SCR) technology at We Energies' Pleasant Prairie Power Plant in Kenosha County, Wis., as part of a project to further reduce plant emissions.

Wisconsin Energy Corporation (NYSE: WEC) is a Milwaukee-based holding company with subsidiaries in utility and non-utility businesses. The company serves more than one million electric customers and more than 960,000 natural gas customers throughout Wisconsin and Michigan's Upper Peninsula through its utility subsidiaries We Energies and Edison Sault Electric. Its non-utility subsidiaries include energy development, pump manufacturing, recycling and renewable energy, and real estate businesses.

Washington Group International, Inc., is a leading international engineering, construction, and environmental firm. With more than 38,000 employees at work in 43 states and more than 30 countries, the company offers a full life-cycle of services as a preferred provider of premier science, engineering, construction, program management, and development in 14 major markets.

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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. Such forward-looking statements are necessarily based on various assumptions and estimates and are inherently subject to various risks and uncertainties, including risks and uncertainties relating to the possible invalidity of the underlying assumptions and estimates and possible changes or developments in social, economic, business industry, market, legal, and regulatory circumstances and conditions and actions taken or omitted to be taken by third parties, including the corporation's customers, suppliers, business partners, and competitors and legislative, regulatory, judicial, and other governmental authorities and officials.