USEC receives NRC license for American Centrifuge Demonstration Facility

BETHESDA, Md., Feb. 26, 2004 — USEC Inc. announced that the U.S. Nuclear Regulatory Commission (NRC) has issued a license that authorizes USEC to construct and operate its American Centrifuge Demonstration Facility.

The facility, which will demonstrate USEC’s next generation uranium enrichment technology, will be built in Piketon, Ohio and is expected to begin operations next year.

“This is an important event for us,” said USEC Senior Vice President Ron Green, “and adds to the momentum we’re building in our American Centrifuge program.” In January, USEC announced that it would site the American Centrifuge commercial plant in Piketon. The commercial plant, which is expected to cost up to $1.5 billion, will employ up to 500 people and yield hundreds of additional highly skilled jobs throughout the United States.

USEC anticipates the American Centrifuge will be the world’s most efficient uranium enrichment technology. It will play a major role in supporting America’s energy security and national security interests, while providing a reliable, competitive fuel source for the world’s nuclear power plants.

USEC’s demonstration facility is a plant prototype that will provide important cost, schedule and performance data before USEC begins construction of the commercial plant. The demonstration facility will employ approximately 50 people and will contain a lead cascade of centrifuge machines operating in closed-loop configuration, in which streams of enriched uranium and depleted uranium are re-fed into the machines. The demonstration facility will use existing buildings at Piketon, uniquely suited for this program, thereby reducing costs and saving valuable time.

USEC Inc., a global energy company, is a global supplier of enriched uranium fuel for commercial nuclear power plants.

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