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USEC ahead of schedule in development of American Centrifuge

BETHESDA, Md., Sept. 18, 2003 -- USEC Inc. reported it has manufactured the first centrifuge rotor tube in its development of the American Centrifuge uranium enrichment technology.

"We continue to meet our milestones ahead of schedule as we move toward the demonstration and deployment of what we believe will be the most efficient uranium enrichment technology in the world," said Ron Green, USEC senior vice president. On July 30, 2003, USEC announced that it was accelerating its deployment schedule by one year.

The rotor tube is a long, fast-spinning component of a centrifuge machine, whose performance is critical to the economics of centrifuge technology. Constructed of a lightweight, high-strength material, the rotor tubes will be subjected to extensive functional tests prior to finalizing the American Centrifuge design.

The rotor tube was manufactured at USEC's state-of-the-art Centrifuge Technology Center in Oak Ridge, Tennessee, where a team of scientists, engineers and technicians is working to finalize the centrifuge machine design that will be installed and operated at the American Centrifuge Demonstration Facility in Piketon, Ohio.

The demonstration facility is expected to begin operation in 2005 and will yield cost, schedule and performance data before USEC begins construction of a commercial American Centrifuge plant. On its accelerated schedule, USEC has determined that it can gather performance data more quickly in the demonstration phase with significantly fewer machines than the up to 240 machines originally planned. Total estimated costs for the demonstration activities remain at about $150 million.

USEC Inc., a global energy company, is a supplier of enriched uranium fuel for commercial nuclear power plants. More information is available at www.usec.com.




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