The Babcock & Wilcox Company (B&W) (NYSE: BWC) announced today that its subsidiary Babcock & Wilcox Power Generation Group, Inc. (B&W PGG) has been awarded a contract worth more than $40 million to design, supply and install boiler pressure parts and an overfire air system, as well as perform boiler reinforcement, for the Big Stone power plant in South Dakota operated by Otter Tail Power Company. B&W PGG also will make improvements to the 450 megawatt coal-fired power plant’s boiler to help it withstand the rigors of a new air quality control system. Enhancements to the plant’s overfire air system are designed to help Big Stone achieve lower nitrogen oxides (NO x) emissions while reducing the cost to operate the plant’s selective catalytic reduction system (SCR). B&W PGG President and Chief Operating Officer J. Randall Data expressed the company’s appreciation for B&W PGG being selected for the project. “I’d like to thank Otter Tail Power Company for choosing B&W PGG for the Big Stone project,” Data said. “B&W PGG’s boiler expertise allows it to help customers across the United States maximize plant efficiency and meet new, more stringent state and federal environmental regulations.” 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 12,700 people, in addition to approximately 10,400 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 statements relating to the scope, timing and value, to the extent value may be viewed as an indicator of future revenues, of the Big Stone project. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing contracts and adverse modifications to contracts in backlog, including termination. If one or more of these or other risks materialize, actual results may vary materially from those expressed. 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, 2011. 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.