URS Announces New Contracts With Potential Revenues Of $225 Million; Wins Major Energy, Transportation, and Water Resources Projects.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--May 1, 2001

URS Corporation (NYSE:URS) today announced that it has been selected for, or awarded, 15 new contracts that are expected to generate a total of approximately $225 million in fees to URS.

The new contract awards include large energy, air and surface transportation, water resources, facilities and environmental projects, and will contribute to the Company's revenues over the next several years.

Commenting on the contracts, Martin M. Koffel, URS Chairman and CEO, said: "These new contracts demonstrate the size and diversity of our business, and highlight our success in positioning URS to meet the needs of several growing markets. The expanding energy crisis is spurring projects to plan, design and build new pipelines, transmission lines and distribution systems, often on a fast-track basis. Concern about the quality and quantity of the nation's water supply is leading to an increased number of water supply and treatment projects. Not only is URS winning contracts in these growing markets, we are continuing to win significant work in our core markets, particularly in transportation infrastructure."

The new contracts include:

Energy

-- Awarded a contract with the North American Natural Gas Pipeline Group to
provide environmental and regulatory support for the preparation of all
federal, state and local permit applications for the U.S. segments of a natural
gas pipeline from Prudhoe Bay, Alaska, to Chicago. The pipeline is the largest
ever proposed, with an estimated construction cost of approximately $15
billion, and potential revenues of several millions of dollars to URS if
constructed.

-- Awarded an $8 million task order contract with Entergy to design the upgrade
of transmission and distribution facilities to help meet increased power demand
in Entergy service areas in East Texas, Arkansas, Mississippi and Louisiana.

Air and Surface Transportation

-- Awarded a $4.5 million supplement for additional design

services for landside improvements at Baltimore/Washington

International Airport, bringing the total contract value to

$14 million.

-- Awarded a $35 million contract with the Hampton Roads Transit

Authority to provide environmental and engineering design

services for public transit projects in the Hampton Roads area

of Virginia over the next three to five years.

-- Selected to provide half of the design and construction

quality services on the Granite-Sundt design-build team for

the $184 million expansion of US 60 between Tempe and Mesa,

AZ, with an estimated fee of approximately $6 to 8 million.

Water Resources

-- Awarded a five-year task order contract, having a potential

value of $50 million, with the United States Bureau of

Reclamation to provide water resources and environmental

planning services, primarily in the San Francisco Bay Delta

area.

-- Selected by the Contra Costa Water District in California to

provide preliminary planning and design services for the

proposed expansion of Los Vaqueros reservoir, with potential

fees of approximately $20 to $30 million if constructed. URS

will be responsible for all dam-related and geotechnical

engineering work for this major water quality and water supply

project.

-- Awarded an $8 million contract to provide program management

services to King County, Washington, in connection with the

county's regional wastewater capital improvement program.

-- Selected by the California Department of Water Resources to

provide flood mapping services under a three-year, $2 million

task order contract.

Facilities

-- Selected to provide architectural, engineering and historic

preservation services for various capital projects throughout

the New York City school system under a four-year, $8 million

task order contract with the New York City Department of

Design and Construction's Schools Program Unit.

-- Selected to provide program and construction management

services for the city of Miami Beach in connection with its

$65 million parks and recreation improvement program.

Estimated fees are approximately $4 million.

-- Awarded a contract from the University of California at Los

Angeles to perform construction management services for the

$150 million replacement project for Santa Monica Hospital.

Estimated fees to URS are approximately $5 million.

Environmental

-- Awarded a four-year contract by the U.S. Postal Service (USPS)

to provide environmental planning, program development and

training services at USPS facilities throughout the United

States. URS is one of four firms contracted under the $180

million program, with potential fees to URS of approximately

$45 million.

-- Selected for a five-year, $15 million task order contract with

the U.S. Coast Guard Facilities Design and Construction Center

Atlantic to provide comprehensive environmental services at

Coast Guard facilities nationwide.

-- Awarded two, five-year task order contracts with the Michigan

Department of Environmental Quality to perform program

management services for statewide environmental cleanup,

pollution prevention and redevelopment projects. The contracts

have a potential value of $10 million to URS.

URS offers a broad range of planning, design, and program and construction management services for transportation, hazardous waste, industrial processing and petrochemical, general building and water/wastewater projects. The Company is ranked first in Engineering News- Record's 2001 list of the top 500 design firms. Headquartered in San Francisco, the Company operates in 30 countries with more than 15,600 employees providing services to federal, state and local governmental agencies as well as private clients in the chemical, manufacturing, pharmaceutical, forest products, mining, oil and gas, telecommunications and utilities industries.

Statements contained in this press release that are not historical facts may constitute forward-looking statements, including statements about the continued strength of the Company's business and its opportunities for future growth. The Company believes that its expectations are reasonable and are based on reasonable assumptions. However, such forward-looking statements by their nature involve risks and uncertainties. The Company cautions that a variety of factors, including but not limited to the following, could cause the Company's business and financial results to differ materially from those expressed or implied in forward-looking statements: the Company's highly leveraged position; the ability of the Company to service its debt; the Company's ability to pursue business strategies; the Company's continued dependence on federal, state and local appropriations for infrastructure spending; pricing pressures; changes in the regulatory environment; outcomes of pending and future litigation; the Company's ability to attract and retain qualified professionals; industry competition; changes in international trade, monetary and fiscal policies; the ability of the Company to integrate future acquisitions successfully; and other factors discussed more fully in the Company's Annual Report on Form 10-K for the year ended October 31, 2000, and other reports subsequently filed from time to time with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements.