The Babcock & Wilcox Company (B&W) (NYSE:BWC) is pleased to announce that CH2M HILL- B&W West Valley, LLC has been awarded a $333 million contract from the U.S. Department of Energy (DOE) for the decommissioning of the West Valley Demonstration Project near West Valley, New York. CH2M HILL-B&W West Valley is a company formed by Babcock & Wilcox Technical Services Group, Inc. (B&W TSG), CH2M HILL Constructors, Inc. and Environmental Chemical Corporation (ECC).

The contract will begin following a 60-day transition period that started July 1. B&W TSG’s expertise in nuclear safety as well as nuclear waste operations and storage management is integral in CH2M HILL-B&W West Valley’s operations.

“B&W TSG is committed to supporting the successful and safe execution of the critical decommissioning activities at West Valley,” said S. Robert Cochran, President of B&W TSG. “We look forward to working with CH2M HILL and ECC and expanding our support to the DOE’s Environmental Management program.”

The West Valley Demonstration Project contract includes decommissioning activities such as removal and disposal of contaminated waste and also maintenance of the site.

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 .

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 West Valley Demonstration Project contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing on the project. 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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