The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that Babcock & Wilcox Beijing Company Ltd. (BWBC) has signed a contract to build two 1,000 megawatt (MW) ultra-supercritical coal-fired boilers for a large power plant project in Zhoushan, Zhejiang province, China. BWBC is a joint venture between Babcock & Wilcox Power Generation Group, Inc. (B&W PGG) and Beijing Jingcheng Machinery Electric Holding Company, Ltd. The two Spiral Wound Universal Pressure (SWUP™) boilers – which will be the first 1,000 MW SWUP B&W boilers in operation in China – utilize one of B&W’s most advanced and efficient coal-fired boiler designs. This design provides increased energy output and lower emissions compared to subcritical boilers. “With the demand for energy in China at an all-time high, B&W’s ultra-supercritical boilers offer our customers a solution to meet that demand,” said B&W PGG President and Chief Operating Officer Richard L. Killion. “By generating more energy from less fuel, our boilers also help customers produce power more efficiently, economically and in a more environmentally friendly manner.” Contract activities for the Zhoushan project are underway at BWBC’s facility in Beijing. Delivery is scheduled for mid-2012. A pioneer in efficient boiler technology, B&W designed the world’s first supercritical boiler and the world’s largest supercritical boiler at 1,300 MW. 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 13,000 people, in addition to approximately 10,000 joint venture employees. Learn more at www.babcock.com . Cautionary Statement Regarding Forward Looking Statements B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the scope and timing of the SWUP boilers contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, changes in the scope of the contract, including cancelation, and delays or other difficulties executing on our contracts in backlog. 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 registration statement on Form 10, as amended. 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.