The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Nuclear Fuel Services, Inc. (NFS) has been awarded a $114.7 million contract for the manufacture and delivery of fuel and support activities for the U.S. Naval Nuclear Propulsion Program.

"Support of our nation's naval fuel program is an important part of B&W's diverse business portfolio," said Joseph G. Henry, President of NFS. "Manufacture of naval nuclear fuel is a process developed by and unique to NFS. We are pleased with the continuation of our agreement with the U.S. Naval Nuclear Propulsion Program and our ability to contribute to the security of our nation."

NFS manufactures nuclear fuel for the U.S. Navy's fleet of nuclear-powered aircraft carriers and submarines. NFS also processes highly enriched uranium in a Category 1 secured facility, which is licensed by the U.S. Nuclear Regulatory Commission.

About B&W

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,000 people, in addition to approximately 10,000 joint venture employees. Learn more at www.babcock.com.

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Media Contact:
Jud Simmons
Public Relations Manager
The Babcock & Wilcox Company
434.522.6462
hjsimmons@babcock.com

Investor Contact:
Michael P. Dickerson
Vice President and Investor Relations Officer
The Babcock & Wilcox Company
704.625.4944