BETHESDA, Md. - USEC Inc. (NYSE: USU) announced today that it has signed a power supply agreement for the summer of 2000 with the Ohio Valley Electric Corporation (OVEC) providing a cash benefit to USEC of $44 million ($28 million after-tax). The Company’s previous earnings guidance for fiscal 2000 and 2001 reflects this benefit.

USEC has the right to purchase power generated by OVEC and sold to the Department of Energy. USEC is decreasing its electric load this summer to reduce its production costs. In addition, the electricity supply being released by USEC is now available for use by OVEC’s utility sponsors in meeting the needs of residents and businesses throughout the Midwest. Under terms of the agreement, which is subject to regulatory approval, USEC receives $44 million in cash. The monthly moving average inventory cost method used by USEC spreads the $44 million benefit across three fiscal years, with about half of the benefit coming in fiscal 2001, which begins July 1, 2000.

This is the second summer that USEC has reduced its electric load to allow the sale of the electric power for use in the Midwest. If energy supplies become particularly constrained during the summer, USEC may be able to release modest amounts of additional power.

This news release includes certain forward-looking information that involves risks and uncertainty, including certain assumptions regarding the future performance of the Company. Actual results may differ materially, depending on a variety of factors, including the impact of government regulation, referenced in the Company’s periodic filings with the SEC.

USEC Inc. is the world’s leading supplier of enriched uranium fuel for commercial nuclear power plants. A global energy company, USEC has its headquarters in Bethesda, Maryland, and operates production plants in Kentucky and Ohio.

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