USEC Files Application with NRC to License American Centrifuge Plant; Key Milestone Achieved Seven Months Ahead of Schedule.

BETHESDA, Md. -- Taking another step forward in its program to deploy what is expected to be the world's most efficient uranium enrichment technology, USEC Inc. (NYSE:USU) today submitted a license application to the U.S. Nuclear Regulatory Commission (NRC) to build and operate its American Centrifuge Plant in Piketon, Ohio. The submission comes seven months ahead of schedule and completes the sixth milestone in USEC's June 2002 agreement with the U.S. Department of Energy (DOE) to deploy next-generation American Centrifuge technology. Before granting the commercial plant license, the NRC will perform an extensive safety and environmental review.

USEC's American Centrifuge Plant will be housed in some of the same facilities where DOE operated hundreds of similar centrifuge machines in the 1980s. By leasing these existing facilities from DOE--including process buildings large enough to house 20 football fields--USEC expects to reduce deployment costs and save valuable time. The American Centrifuge Plant is expected to be operational by the end of the decade.

"We're making solid progress and continuing to build momentum in our American Centrifuge program," said Ron Green, USEC senior vice president. "I congratulate our licensing team for drafting a strong application and finishing the job well ahead of our original schedule. We look forward to working with the NRC in the coming months as it conducts its reviews."

USEC's license application for the American Centrifuge Plant seeks an initial annual production capacity of 3.5 million SWU (separative work units) and authorization to enrich uranium to an assay level of up to 10 percent. The Company's environmental report submitted with the license application also evaluates the modular expansion of the plant to a maximum annual production capacity of 7 million SWU. Completion of this evaluation should make it easier in the future for USEC to receive an amendment to its operating license allowing capacity expansion beyond 3.5 million SWU.

The American Centrifuge Plant will play a key role in supporting U.S. energy security and national security interests, while providing a reliable, competitive fuel source for the world's nuclear power plants.

This news release contains forward-looking information (within the meaning of the Private Securities Litigation Reform Act of 1995) that involves risks and uncertainty, including certain assumptions regarding the future performance of USEC. Actual results and trends may differ materially depending upon a variety of factors, which are described in USEC's periodic filings with the Securities and Exchange Commission. These SEC filings are available on USEC's website, www.usec.com.

USEC Inc., a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants.