Fluor Forms New Business Line to Focus on Nuclear New Build Power Market.

IRVING, Texas -- Fluor Corporation (NYSE: FLR) today announced the formation of a dedicated business line within its Power Group to address the next generation nuclear power market. Fluor has prepared for this emerging market through the combined talent, activities and resources in both its Government and Power Groups. The nuclear business line will be headquartered in Fluor's Greenville, S.C. office.

Fluor is well-positioned to leverage its vast experience in siting, program and project management, engineering, procurement and construction to add value in this marketplace. The company has a solid reputation in the commercial nuclear power industry, having provided key engineering or construction services in the design and/or construction of 20 nuclear units in the first wave of U.S. nuclear plant construction between 1970 and 1993. Fluor's experience also includes facility management and decommissioning work for the U.S., U.K. and Russian governments.

Fluor remained active in the commercial nuclear market, pioneering the first steam generator replacement project, retrofitting spent nuclear fuel pools to increase storage capacity, and executing more than 80 million work hours at 60 U.S. nuclear units in capital work, engineering/technical services and refueling outage support.

To help execute Fluor's strategy, the company has appointed Ron Pitts to lead this business line, reporting directly to David Constable, president of Fluor's Power Group. Additionally, David Durham will lead the business development efforts for the new business line, focusing on prospect screening, customer and partner relationships, and overall strategic planning.

"Ron is well-suited for this important role given his in-depth industry knowledge and construction management experience at nuclear units in Alabama and Missouri. This new business line will position Fluor as a leading player in constructing new nuclear power generation facilities," said Constable.

"We intend to vigorously pursue nuclear new build and capital projects in the United States, United Kingdom and around the world," said Ron Pitts, senior vice president of Nuclear Power. "Fluor has a significant track record of successfully delivering complex large-scale projects. Our industry-leading project management systems and safety performance record position us well for this expanding market."

The 2005 U.S. Energy Act ignited significant interest in the deployment of new nuclear plants in the United States, and more than 30 units are currently in the queue for application to the U.S. Nuclear Regulatory Commission for construction and operating licensing. In addition, many other nations have indicated serious interest in having new nuclear power plants built, including the United Kingdom, Canada, Russia, Japan, China, India, Finland, France and others. Engineering News-Record recently estimated that 20 to 80 new nuclear power plants will be built worldwide in the next 10 years, with capital expenditures estimated to be $35 billion to $150 billion.

Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information visit www.fluor.com.

FLRG