The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that BWB Maintenance Services Company, LLC (BWB) has been awarded a master contract to provide fleet-wide maintenance and project support services on a task-specific basis for Progress Energy's nuclear power plants in North Carolina, South Carolina and Florida. BWB is a newly formed entity of BWB LLC, a joint venture between Babcock & Wilcox Nuclear Maintenance Services, Inc. and Bartlett Holdings, Inc.

BWB has been awarded a five-year contract. Under the terms of the contract, BWB will support Progress Energy's nuclear fleet with maintenance and craft services, project execution, radiation protection, health physics, and other services.

"This contract is an important addition to our growing nuclear services portfolio and demonstrates B&W's capability to provide a complete nuclear services package to utilities across the nation," said Christofer M. Mowry, President of Babcock & Wilcox Nuclear Energy, Inc. "Bartlett is a respected industry leader, and we look forward to working with them to meet Progress Energy's needs."

BWB is transitioning into this new role, beginning facility assessments in preparation to support three major maintenance and refueling outages planned for spring 2012.

To learn more about BWB, visit www.bwb-llc.com.

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.

About Bartlett Holdings, Inc.

Bartlett Holdings, Inc. is a leading provider of technical, professional & integrated maintenance services to power facilities worldwide.

Cautionary Statement Regarding Forward Looking Statements

B&W cautions that statements in this release that are not historical fact may constitute forward-looking statements, including statements relating to the scope, timing and value of work expected under the Progress Energy contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, adverse changes in the scope of work awarded by Progress Energy under the contract and delays or other difficulties executing on the contract. If one or more of these or other risks materialize, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see B&W's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2010, as supplemented by its quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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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