Marcia Burkey Named Cfo Of Bechtel Enterprises

San Francisco, CA - May 8, 2000 Marcia B. Burkey has been elected managing director of Bechtel Enterprises Holdings, Inc. and named the company's chief financial officer, effective immediately. Bechtel Enterprises is the development, financing, and asset management arm of the Bechtel organization.Since 1996, Burkey, 37, has served Bechtel Enterprises in a variety of executive finance positions including Manager of the Structured Finance Group and Regional Manager for North America. Prior to 1996, she held a series of senior finance positions with SBC Warburg (now UBS Warburg) and directed the company's Latin America project finance business development efforts. Her transactional experience includes debt and equity financings and acquisitions in the electric power, water, and gas sectors. Marcia is a graduate of Macalester College and earned her master's degree from Columbia University.

"Marcia is well suited to take on this challenging assignment, said Paul Unruh, president and chief operating officer of Bechtel Enterprises. Her global project finance background and knowledge of multiple industry sectors will help us successfully manage our diverse portfolio of infrastructure assets and investments."

In addition to her CFO role, Marcia will continue to manage Bechtel Financing Services LLC, a registered broker-dealer with the National Association of Securities Dealers. Ms. Burkey succeeds Bernard Fried, who has joined Bechtel Group, Inc. as a Principal Vice President and Program Manager of Shared Services.

The Bechtel Group of companies has provided engineering, construction, and related management services to more than 19,000 customers in some 140 nations on all seven continents. Bechtel had revenues of $12.6 billion in 1998, the last year for which figures are available. Bechtel Enterprises has developed and invested in 52 infrastructure projects in operation or under construction, with total capital costs of over $20 billion. Since 1990, the company has arranged nearly 19 billion of financing for its projects and customers.