Jacobs Receives Contract from Syncrude

Business Wire, Feb 3, 2003

Business Editors

PASADENA, Calif.--(BUSINESS WIRE)--Feb. 3, 2003

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that a subsidiary company received a construction contract from Syncrude Canada, Ltd., for a $250 million expansion of Syncrude's oil sands facility at Fort McMurray, Alberta, Canada.

The first stage of the upgrader expansion will increase capacity of Syncrude's sweet blend to approximately 370,000 barrels a day by 2005.

The majority of Jacobs' scope, which includes building Plants 21 and 32-5, relates to the piperack that constitutes the central artery of the complex.

In making the announcement, Jacobs Group Vice President Phil Stassi stated, "Syncrude selected us for this complex work package because of the active knowledge we have gained through our 25-year on-site maintenance presence at Syncrude's facility. We are proud to be part of this important project and to continue our long-term relationship with this key client."

Jacobs, with over 35,000 employees and revenues approaching $5.0 billion, provides technical, professional, and construction services globally.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgement as to what may occur in the future. However, Jacobs' actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Forward-Looking Statements" included in Management's Discussion and Analysis filed as part of Exhibit 13 to the Company's 2002 Annual Report on Form 10-K.