URS Partnership Wins Department of Energy Contract; Contract has a Maximum Value of $85 Million to URS

Business Wire, Nov 15, 2004

SAN FRANCISCO -- URS Corporation (NYSE: URS) today announced that the Company's EG&G Division, in partnership with Parsons Infrastructure & Technology Group Inc. (Parsons) and Science Applications International Corporation (SAIC), has been awarded a contract with the U.S. Department of Energy's (DOE) National Energy Technology Laboratory (NETL) to provide research and development (R&D) support services that will aid in the management and integration of all science and technology development at NETL.

The contract includes a three-year base period and an additional two-year option period, for a total of five years. It combines work conducted under existing contracts between the DOE and EG&G, Parsons and a previous EG&G and SAIC joint venture. The contract has a maximum value to the partnership of $127.5 million over the three-year base period and $218 million over the full five years, if the option period is exercised. The maximum value of the contract to URS is $85 million.

Under the terms of the contract, the partnership will be responsible for R&D technology planning and analysis, project planning and analysis, and operations; process engineering design and analysis; computational research, simulation, and visualization; and environmental, safety, and health assurance.

Commenting on the contract win, Martin M. Koffel, Chairman and Chief Executive Officer of URS, said: "We are very pleased to have been selected by the DOE to support the critical research and development work conducted at the National Energy Technology Laboratory, and we look forward to continuing our successful, long-term relationship with the DOE on this important assignment."

URS Corporation offers a comprehensive range of professional planning and design, systems engineering and technical assistance, program and construction management, and operations and maintenance services for surface transportation, air transportation, rail transportation, industrial process, facilities and logistics support, water/wastewater treatment, hazardous waste management and military platforms support. Headquartered in San Francisco, the Company operates in more than 20 countries with approximately 27,000 employees providing engineering and technical services to federal, state and local governmental agencies as well as private clients in the chemical, manufacturing, pharmaceutical, forest products, mining, oil and gas, and utilities industries (www.urscorp.com).