URS' Washington Division Forms Alliance with Tennessee Valley Authority to Build Gas-Fired Power Generating Units

Business Wire, Dec 18, 2007

First Project Under Alliance Valued at Approximately $180 Million To URS

SAN FRANCISCO -- URS Corporation (NYSE: URS) today announced that the Company's Washington Division (formerly Washington Group International) has entered into an alliance agreement with the Tennessee Valley Authority (TVA) to provide engineering, procurement, construction, startup, and commissioning services for combined-cycle and simple-cycle gas turbine projects throughout TVA's system under the long-term agreement. The first project will begin this month at TVA's Lagoon Creek Combustion Turbine Plant and when completed will add 600 megawatts of combined-cycle capacity to the 1,020 megawatts of existing capacity at the facility, which is located near Brownsville, Tennessee. The value of this project to URS is approximately $180 million over 30 months. TVA currently is evaluating other projects for future capacity addition.

"We are pleased to be expanding our relationship with TVA through this important alliance. This is a significant initiative that will provide superior value throughout TVA's system," said Stephen G. Hanks, President of URS' Washington Division. "The Washington Division has provided engineering, construction, and maintenance and operations services on various fossil fuel, hydroelectric and nuclear power projects for TVA for more than 15 years."

URS Corporation (NYSE: URS) is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. The Company offers a broad range of planning, engineering and architectural design, environmental, construction, program and construction management, systems integration, operations and maintenance, management and a wide range of specialized technical services for the U.S. federal government, state and local government agencies, Fortune 500 companies and other multinational corporations. URS provides services for transportation, hazardous waste, industrial infrastructure and process, petrochemical, general building, water/wastewater, military facilities and equipment platforms, and defense and security programs. Headquartered in San Francisco, the Company operates through three divisions: the URS Division, the EG&G Division and the Washington Division. URS Corporation has approximately 55,000 employees in a network of offices in more than 30 countries (www.urscorp.com).