DOE Confirms Fluor-Led Winning Team at Savannah River Site.

Protests Resolved by GAO; 90-Day Transition to Begin Immediately

Fluor, Northrop Grumman, Honeywell and Lockheed Martin Comprise Winning Team

IRVING, Texas -- Fluor Corporation (NYSE:FLR) announced today that the Department of Energy (DOE) confirmed its January 2008 selection of Savannah River Nuclear Solutions, LLC, a Fluor-led team, as the winning bidder for the management and operating (M&O) contract at the Savannah River Site near Aiken, S.C. The estimated $4 billion contract is over a five-year period. Additionally, there are five, one-year renewal options bringing the potential total contract value to $8 billion. To date, no specific contract amounts have been booked into Fluor's backlog. Fluor expects to start booking earnings from the M&O contract into backlog in the third quarter of 2008.

Work under the Savannah River Site M&O contract award had yet to commence while the U.S. Government Accountability Office (GAO) resolved protests by a competitor. A 90-day transition period at the Site will begin immediately.

"We are glad to have these protests resolved and to be able to move forward. Throughout this process we have remained confident in our team and in our proposal," said John Hopkins, group executive of Fluor Corporation. "The combined vision, knowledge and expertise of our team will enable us to meet the DOE's expectations, as well as those of the Site employees and the neighboring South Carolina and Georgia communities."

"Within the DOE Complex, Fluor has performed extremely well and we look forward to doing so again at the Savannah River Site. Our employees and team members understand and respect the many missions of the DOE at Savannah River and we are ready to get underway," said Ken Smith, senior vice president of Fluor's Government Group.

DOE's Savannah River Site focuses on supporting and maintaining the nuclear-weapons stockpile as well as processing and storing nuclear materials in support of U.S. nuclear non-proliferation efforts. Work performed at the Site includes environmental management and the cleanup of legacy materials, facilities, and wastes left over from the Cold War. The Savannah River National Laboratory, a federally-funded research and development center, is also located at the Site.

Savannah River Nuclear Solutions LLC (SRNS) was formed by Fluor Corporation (NYSE: FLR) with team members Northrop Grumman (NYSE: NOC), Honeywell (NYSE: HON) and Lockheed Martin (NYSE: LMT). Key personnel from each company comprise the SRNS senior management team, under the leadership of president and chief executive officer Chuck Munns. Munns formerly served as a vice admiral in the U.S. Navy, where he was responsible for the U.S. Submarine Force worldwide.

Since 1996, Fluor has worked as a DOE prime contractor at the Hanford Site in Washington State. Fluor Hanford and its 3,600 employees manage several major activities including dismantling former nuclear processing facilities, cleaning up the Site's contaminated groundwater, maintaining the Site's infrastructure, and operating the Volpentest HAMMER Training & Education Center. From 1992 to 2006, Fluor executed nuclear cleanup work at the DOE's Fernald Site near Cincinnati, Ohio. The project was originally estimated to take as much as 27 years to complete at a cost of $12.2 billion. Fluor Fernald completed the cleanup years ahead of schedule and billions of dollars under the projected budget.

About Savannah River Nuclear Solutions

Following a 90-day transition period, SRNS will be responsible for management and operating the DOE's Savannah River Site with a workforce of approximately 6,200 employees. Headquartered in Aiken, S.C., SRNS is a limited liability company formed by defense, energy, technology and manufacturing industry leaders Fluor, Northrop Grumman and Honeywell. For additional information, visit www.savannahrivernuclearsolutions.com.

About Fluor

Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, and maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $16.7 billion in 2007. For more information, visit www.fluor.com.

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