BETHESDA, Md. - USEC Inc., today announced the signing of long-term supply contracts with Tokyo Electric Power Company, Inc. (TEPCO) and Tohoku Electric Power Company, Inc. With these contracts, which are based on commitments from the Japanese companies that USEC announced in January 1999, USEC now has new long-term agreements with all ten nuclear electric utilities in Japan. USEC is the world's leading supplier of uranium fuel enrichment services for commercial nuclear power plants.

William H. Timbers, Jr., President and Chief Executive Officer of USEC Inc., recently signed the new contracts on behalf of USEC Inc.'s subsidiary, the United States Enrichment Corporation, during formal ceremonies in Japan.

TEPCO is the largest electric power company in Japan, with nearly one third of its electric power generated by 17 nuclear reactors. TEPCO accounts for 38 percent of Japan’s nuclear electric power capacity. TEPCO’s top management was present at the contract signing in Tokyo. Under the terms of the contract, USEC will provide nuclear fuel enrichment services to TEPCO through most of the coming decade.

Tohoku Electric Power Company is one of Japan’s principal electric power companies, with two operating nuclear reactors, two units under construction and three more in the planning stages. The operating units contribute 3 percent of Japan’s nuclear electric power capacity. Signing for Tohoku was its President, Mr. Toshiaki Yashima. The contract provides for nuclear fuel enrichment services by USEC through most of the coming decade.

These new contracts confirm that USEC continues in its historical role as leading supplier of enrichment services to Japan and as a committed partner in Japan’s use of emission-free nuclear energy.

As previously reported in USEC's third quarter earnings news release, from July 1, 1998 through April 30, 1999, the Company contracted new sales totaling $1.3 billion.

USEC Inc. (NYSE: USU) is a global energy company with customers in 14 countries. With headquarters in Bethesda, Maryland, the Company operates production plants in Kentucky and Ohio and is developing an advanced laser enrichment technology in California. Its operations involve approximately 4,500 people.

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