Bechtel Power And Nac Announce Teaming Agreement

August 9, 1999 Bechtel Power Corporation and NAC International, Inc., jointly announced today the formation of a teaming agreement to provide services to nuclear utilities in the United States.

Services to be provided under the agreement include decontamination and decommissioning for shut down plants and management of spent nuclear fuel for both operating plants and plants that have been permanently shut down. Services include design, licensing, fabrication, construction, and operation of spent fuel management systems and facilities, including transportation services.

Brian Reilly, principal vice president and general manager of Bechtel's nuclear power business in North America, said, "The U.S. nuclear power industry is changing quickly, like the electricity generating and distribution industry generally. To meet the industry's new challenges, Bechtel is excited about teaming with another premier provider of nuclear services. Together, Bechtel Power and NAC offer an unparalleled range of quality services to support operating nuclear plants and plants that are shut down or planning shutdowns."

Edward Davis, NAC's president and CEO, stated, "NAC foresees tremendous potential in its partnership with Bechtel. Our combined resources and experience mean that customers benefit from unmatched technical and project management capabilities. Add Bechtel's world-renowned reputation and experience to NAC's state-of-the-art technologies, and you have a team that's ready today to meet the nuclear industry's growing needs in a deregulated market."

The Bechtel organization is one of the world's premier engineering, construction, and project management companies. Founded over 100 years ago, Bechtel has completed more than 20,000 projects in 140 countries on all seven continents, including more than 250,000 megawatts of generating capacity in over 500 power stations. Bechtel was ranked number one on Engineering News-Record magazine's May 31, 1999, list of Top 400 Contractors, including number one in both the power and hazardous waste categories.

NAC International, headquartered in Atlanta, Georgia, has over 30 years experience as a nuclear and electric utility services company. NAC specializes in nuclear fuel transport, spent fuel management technology, fuel cycle consulting and information technology. Serving more than 200 clients worldwide, NAC provides consulting, information services, and state-of-the-art technologies to utilities, government agencies, producers, fuel vendors, and financial institutions.