GE Hitachi Nuclear Energy and Fluor Corporation Team Up on Polish Nuclear Power Plant Project

LONDON–September 15, 2011–As Poland prepares to build its first two nuclear power stations to diversify the country's energy supply, technology provider GE Hitachi Nuclear Energy (GEH) today announced a memorandum of understanding (MOU) with Fluor Corp. (NYSE:FLR), under which Fluor would serve as GEH's engineering, procurement and construction (EPC) partner for the announced new reactor project in Poland.

Polish utility Polska Grupa Energetyczna S.A. (PGE) is scheduled to formally open the project–bidding process in Warsaw at its engagement conference to be held September 22–23. PGE is expected to complete its vendor selection in mid–2013 and has targeted 2020 as the commercial date of operation for its first nuclear power plant.

GEH is a leading designer of boiling water reactor (BWR) technology and services worldwide. GE currently has more than 10,000 employees in Poland.

"Adding our five decades of nuclear energy experience with Fluor's engineering and construction leadership will enable us to provide a complete solution and a competitive bid to PGE," said Danny Roderick, senior vice president of new plant projects for GEH. "We are very excited about the prospect of collaborating with Fluor on the Poland new–build opportunity and potentially on additional programs in the future."

Fluor has decades of experience in coordinating large engineering and construction projects around the world. Fluor has been in Poland since 1995 with nearly 300 engineering and technical professionals.

"The Fluor and GEH consortium will provide PGE with world-class technology and a safe, efficient and reliable EPC delivery program," said Dave Dunning, president of Fluor's Power Group. "For more than 60 years, Fluor has provided nuclear services to the industry including the design and construction support for 23 units, plus more than 90 million hours supporting operating nuclear units."

In the last two years, GEH has signed cooperative agreements with more than a dozen Polish manufacturing and engineering firms, enhancing the potential local economic benefits of nuclear energy. GEH also has been working with Poland's universities to help begin training the thousands of nuclear engineers needed to build and operate future nuclear power stations, underscoring GEH's long-term commitment to the country. GEH reinforced this commitment by hosting 14 interns from Poland this summer at its global headquarters in Wilmington, N.C.

About GE Hitachi Nuclear Energy

Based in Wilmington, N.C., GE Hitachi Nuclear Energy (GEH) is a world-leading provider of advanced reactors and nuclear services. Established in June 2007, GEH is a global nuclear alliance created by GE and Hitachi to serve the global nuclear industry. The nuclear alliance executes a single, strategic vision to create a broader portfolio of solutions, expanding its capabilities for new reactor and service opportunities. The alliance offers customers around the world the technological leadership required to effectively enhance reactor performance, power output and safety.

About Fluor

Fluor Corporation designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world–class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $20.8 billion in 2010. For more information, visit www.fluor.com.

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