The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Babcock & Wilcox Technical Services Group, Inc. (B&W TSG) has received contract extensions for the management and operations of the Pantex Plant and the Y-12 National Security Complex from the National Nuclear Security Administration (NNSA).

The contracts at these facilities were extended through September 30, 2012, and also contain two, three-month extension options. In fiscal year 2011, combined funding at both facilities exceeded $1.4 billion.

"B&W is pleased to continue its leadership role in the management and operation of these facilities that are of vital importance to our national defense," said B&W TSG President George Dudich. "Our teams at the Pantex and Y-12 sites have been consistently recognized for excellent performance, and we are committed to providing this high level of service and value to NNSA in the future."

The Pantex Plant in Amarillo, Texas, is responsible for nuclear weapons assembly and disassembly, and maintaining the safety, security and reliability of the nation's nuclear weapons stockpile. The Y-12 facility in Oak Ridge, Tenn., focuses on the production, refurbishment and disassembly of weapons components; storage of nuclear material; and the prevention of the spread of weapons of mass destruction.

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:
Aimee Mills
Public Relations Specialist
The Babcock & Wilcox Company
434.522.3802
aemills@babcock.com

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