BWXT Receives Major Contract Awards.

Energy Editors/Business Editors

NEW ORLEANS--(BUSINESS WIRE)--Dec. 4, 2003

BWX Technologies Inc. ("BWXT"), a subsidiary of McDermott International Inc. (NYSE:MDR), announced today the recent award of several major U.S. government contracts. The awards, valued in excess of $570 million, are for the manufacture of components in support of U.S. defense programs. These contracts are in addition to BWXT's backlog of $1.4 billion as reported on Sept. 30, 2003.

"I am extremely pleased with these contract awards," said John Fees, president and chief operating officer of BWXT. "This additional work reflects our continuing commitment to U.S. government programs and their continuing confidence in our ability to serve their needs."

BWXT, headquartered in Lynchburg, Va., supplies nuclear operations services and products to the U.S. government and commercial clients. BWXT manages complex production facilities and advanced energy products. Among its diverse capabilities are decontamination and decommissioning, waste management, engineering and project management services.

McDermott International Inc. is a leading worldwide energy services company. Its subsidiaries provide engineering, fabrication, installation, procurement, research, manufacturing, environmental systems, project management and facility management services to a variety of customers in the energy and power industries.