The Company will release its first quarter 2013 earnings report, which ended March 31, 2013, after the close of markets on Monday, May 6.

$1.1 billion non-cash charge involving previously capitalized costs related to American Centrifuge project results in net loss of $1.2 billion for 2012; Charge to expense does not affect DOE assets, RD&D program or future investment in American Centrifuge project

The Company will release its year-end earnings report for its fiscal 2012, which ended December 31, 2012, after the close of markets on Monday, March 18.

USEC and DOE amend cooperative agreement to add program funding through February 2013; Commercial plant demonstration cascade construction enters next, high-activity phase; Program within budget and on schedule

The regularly scheduled call with shareholders and analysts will be open to listeners who may log in through the Company’s website, www.usec.com. A link to the call will be located in the Investor Relations section, and a webcast replay will be available through November 19, 2012.

Milestone Two affirmed the reliability of the Lower Suspension Drive Assembly (LSDA) which was upgraded in 2011. After achieving 20 years of run-time in May of this year, AC100 machines containing this upgraded subassembly continued accumulating hours and have now run for more than 30 machine years.

DOE agrees to project test plan; Representatives from nuclear industry leaders B&W, Exelon, and Toshiba, along with other accomplished industry experts, join demonstration subsidiary board of managers; Hiring has begun, additional AC100 machines are being built and construction of the demonstration cascade commenced; DOE authorizes continued program spending through November

The regularly scheduled call with shareholders and analysts will be open to listeners who may log in through the Company’s website, www.usec.com. A link to the call will be located in the Investor Relations section, and a webcast replay will be available through August 20, 2012.

Revenue of approximately $1.9 billion expected;
Gross profit margin expected to improve over 2011;
June 30th cash balance expected to exceed $200 million

USEC and the U.S. Department of Energy are continuing to make good progress on a cost-sharing proposal that would allow USEC to proceed with the American Centrifuge research, development and demonstration program. Pending short-term resolution with its lenders and DOE, USEC expects to continue work on the RD&D program at its facilities in Ohio and Tennessee without disruption.

The Company’s common stock continues to trade on the NYSE. Subject to NYSE rules, the Company has six months from receipt of the notice to regain compliance with the NYSE’s price criteria (or by no later than the Company’s next annual meeting of shareholders if shareholder approval is required, as would be the case to effectuate a reverse stock split to cure the deficiency).

Net loss of $28.8 million on revenue of $561.5 million; Gross profit and gross profit margin improve over first quarter 2011; RD&D program expense increases advanced technology expense to $36.8 million; Cash flow provided by operations remains positive at $47.7 million

USEC President John Welch said that last year’s results demanded that USEC’s management team take action and make fundamental changes to the organization to position the Company to capitalize on the long-term prospects for nuclear power. Meeting that demand will require USEC to transition from production at the Paducah Gaseous Diffusion Plant to its American Centrifuge technology.

USEC has been funding project activities that support the RD&D program since the start of 2012. USEC announced that it plans to continue funding for this purpose through May 31, 2012 as it continues to work with DOE and Congress on securing the government cost-share for the RD&D program.

The regularly scheduled call with shareholders and analysts will be open to listeners who may log in through the Company’s website, www.usec.com. A link to the call will be located in the Investor Relations section and a webcast replay will be available through April 2, 2012.

USEC and DOE have identified a path to provide interim funding for the initial phase of a research, development and demonstration program for the project.
This path would provide the basis for funding of the program activities through the end of March.

Salomone has served as senior vice president and chief operating officer of B&W since January 2010.

Advanced talks with Department of Energy continue, working together with DOE and Congress to support the RD&D program

Work continues to achieve loan guarantee conditional commitment;
Planning underway for possible demobilization as of November 1

Program has eliminated 425 metric tons of highly enriched uranium.

Gross profit of $33.2 million dollars; net loss of $21.2 million after advanced technologyexpense of $33.5 million; Cash flow from operations generate $286 million in first half of 2011; cash balance of $340 million on June 30, 2011

Davis brings to USEC extensive experience in auditing, corporate governance and compliance, risk management and loss prevention.

Will provide USEC with continued access to Russian enriched uranium

Due diligence process well underway; USEC made significant progress in 2010 to address DOE concerns

Former ConocoPhillips executive Sigmund L. Cornelius and former Boeing Company executive Walter E. Skowronski elected to the board.

In agreeing to these modifications, DOE recognized the substantial progress that USEC has made to commercially deploy the American Centrifuge, as well as the promise of this U.S. technology and the importance of its deployment

Smith brings to USEC nearly 40 years of power industry engineering, construction, project management and M&A experience.

Net income of $1.0 million for quarter on revenue of $565 million; Net loss of $1.5 million for nine-month period on revenue of $1.37 billion; Cash flow from operations of $30.0 million in nine-month period, cash on hand of $146.1 million at September 30, 2010

DOE completes initial technical review of USEC’s comprehensive update to loan guarantee application and proceeds to next stage of process

Strausser brings to the project a background in large-scale project and construction management

Investment of $75 million will be used for continued progress on activities related to the American Centrifuge Plant in Piketon, Ohio and general corporate purposes

The update was submitted at the end of July and reflects the significant steps taken by USEC to address concerns expressed by DOE in 2009

Howe will focus on outreach to the executive branch, advocacy efforts with state and local governments and will assist with congressional outreach as part of USEC’s government relations

Jacobson will be responsible for overseeing all aspects of USEC’s internal and external communications with employees, the media and other constituencies

Lead Cascade testing program successfully underway with AC100 machines; DOE cost-sharing will provide additional financial resources for continued demonstration and manufacturing activities

Growing number of nuclear reactors under construction globally provide solid business case for additional uranium enrichment capacity

Welch spoke about USEC’s role in nuclear security and nonproliferation on a panel discussion at the Nuclear Energy Institute’s Nuclear Security Conference

Cascade of AC100 machines is operating in a commercial plant configuration and at commercial plant assays

Up to $225 million available at initial closing with ability to expand to $350 million; New facility provides strong credit support for core operations

Penrod has served as general manager of the Paducah plant since 2005 and previously served as the plant manager for seven years

Company reports net loss for quarter; net income of $9 million in 9-month period; Cash flow from operations of $319 million for 9-month period; 2009 financial guidance improves to net income of $50 to $65 million; cash flow from operations of $360 to $375 million

The regularly scheduled call with shareholders and analysts will be open to listeners who may log in through the Company’s website

To date, 375 metric tons of highly enriched uranium (HEU) have been downblended into 10,868 metric tons of LEU

Joins USEC with significant prior legislative, executive branch and corporate experience.

Net income of $17.3 million for second quarter on revenue of $514 million; Cash flow from operations of $221.7 million for the six-month period

Company begins demobilization of American Centrifuge Plant

Decision on a conditional commitment for a loan guarantee expected by early August

Sullivan previously served as USEC’s vice president of operations and chief engineer

JV will manufacture AC100 centrifuge machines for American Centrifuge Plant

Initial cascade of AC100 series machines being assembled and prepared for operations

The regularly scheduled call with shareholders and analysts will be open to listeners who may log in through the Company’s website, www.usec.com

Saba continues as general counsel and secretary; Sullivan continues as vice president, operations

Call with shareholders and analysts will be open to listeners who may log in through the Company’s website, www.usec.com

Unanimous decision by the U.S. Supreme Court rules that imports of low enriched uranium under enrichment services contracts are subject to U.S. trade law

Milestones modified to reflect previously announced American Centrifuge Plant schedule; Financing milestone altered to reflect planned commercial plant capacity

USEC representative Dr. Vijay Sazawal will represent the Company in the mission

USEC today reported substantial progress in building the American Centrifuge Plant

The Naval Submarine League honored Welch for his leadership of a re-engineering initiative at Electric Boat

Under the new contract, Fluor will be reimbursed for costs plus a fixed fee.

Project Is Helping Rebuild U.S. Nuclear Manufacturing Base

USEC applies for financing under DOE Loan Guarantee program; Initial machine design drawings released, allowing strategic suppliers to build first AC100 centrifuges

A DOE loan guarantee is currently viewed by USEC as the path for obtaining debt financing to complete the commercial plant.

Briefs filed with the Supreme Court outlining why all imports of low enriched uranium should be subject to the U.S. antidumping law

Teledyne to Manufacture Service Modules for USEC’s American Centrifuge Plant

2007 was year of accomplishments for moving American Centrifuge project forward; Progress continues as initial AC100 centrifuge design finalized; Shareholders elect directors, approve amendments

U.S. Supreme Court has decided to accept the petitions for certiorari filed by USEC and the U.S. government

Cutlip will lead USEC’s team charged with ensuring that reliable, high-quality components are manufactured for the American Centrifuge Plant

The department’s inventory of uranium is a valuable national resource that needs to be responsibly managed in order to ensure the continued growth of nuclear power in the United States

USEC CEO says that Congress needs to act on legislation giving the U.S. government the authority it needs to enforce a recent trade agreement on nuclear fuel imports from Russia

Saba will serve as USEC’s principal legal and corporate governance officer and brings extensive legal experience in both the private and government sectors to USEC

The impact of significant price pressure on labor, commodities and construction materials is increasing management’s anticipated cost for completing the American Centrifuge Plant

Habermeyer and Madia possess a wealth of industry management experience that will serve USEC well as it works to deploy the American Centrifuge Plant

Agreement resolves issues related to the scope of the existing collective bargaining agreement at the Portsmouth, Ohio, Gaseous Diffusion Plant and providing a path forward for labor relations at the American Centrifuge Plant

USEC commends Congress and the Administration for their strong support for the renaissance of the nuclear power industry through the loan guarantee program administered by the U.S. Department of Energy, included in the omnibus appropriations legislation (H.R. 2764) signed yesterday by President George W. Bush.

Centrifuges in integrated testing program produce commercial nuclear fuel assays; Program providing valuable data for final design of the AC100 commercial centrifuge machine; Lead Cascade test results meet October 2007 milestone criteria

USEC Inc. will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Friday, November 2, 2007, at 8:30 a.m. ET. The Company will release its earnings for the third quarter of 2007 ended September 30, 2007, after markets close on Thursday, November 1, 2007.

“USEC actively participated with others in the nuclear industry in the development of DOE’s final regulations,” said USEC President and CEO John K. Welch. “We are pleased that many of the concerns raised by the nuclear industry and financial community have been incorporated.”

The decision by the U.S. Court of International Trade to remand consideration of the case back to the U.S. Department of Commerce was an expected part of the normal process of review and appeal.

First group of centrifuge machines operating in a cascade configuration; Initial test results consistent with predictions by USEC analytical models; Lead Cascade operations are another step in ongoing integrated testing program

USEC has awarded an approximately $175 million contract to Major Tool & Machine Inc. of Indianapolis, Ind., to manufacture steel casings for centrifuge machines that will be used in USEC’s American Centrifuge Plant in Piketon, Ohio. Major Tool & Machine won the contract, which runs through 2012, in a competitive bid process.

Net loss of $13.4 million for 2nd quarter compared to net income of $21.6 million in same quarter last year; Net income of $25.9 million for first six months of 2007 compared with $56.2 million in first half of 2006; Results better than planned but continue to reflect higher electric power costs and increased American Centrifuge expenses

BWXT will manufacture components for centrifuge machines to be used in USEC’s American Centrifuge Plant in Piketon, Ohio. USEC selected BWXT because of its extensive experience with the design and cost-effective manufacturing of nuclear components and classified machinery.

USEC Inc. has signed a five-year contract with the Tennessee Valley Authority for electric power for USEC’s gaseous diffusion uranium enrichment plant in Paducah, Ky. The new contract, which replaces a one-year pricing agreement that expires today, runs through May 31, 2012.

$39.3 million net income for first quarter 2007 compared with $34.6 million in first quarter 2006; As anticipated, gross profit margin falls from same quarter last year; 2007 guidance updated; Initial American Centrifuges being assembled and installed for Lead Cascade; operations expected in mid-2007

A new generation of nuclear reactors expected to be built over the next decade will need a reliable supply of enriched uranium fuel, John K. Welch, USEC president and chief executive officer, told the annual meeting of shareholders.

The American Centrifuge Plant is only the second major nuclear facility to be licensed by the NRC in the past three decades under the NRC’s licensing process for uranium enrichment facilities. The license, which is good for 30 years, includes authorization to enrich uranium up to an assay level of 10 percent U235.

$106.2 million net income for 2006; pro forma net income $171.3 million before American Centrifuge expenses; Cash flow from operations totals $278 million in 2006; USEC expects net loss of $10 to $20 million for 2007; pro forma net income of $65 to $75
million before American Centrifuge expenses

American Centrifuge project cost target increased to $2.3 billion; includes project spending through 2006 totaling $371 million; American Centrifuge plant capacity increases to 3.8 million SWU as a result of improved machine performance; Lead Cascade centrifuge machine design frozen; Lead Cascade operation expected in mid-2007

The U.S. Nuclear Regulatory Commission issued an order detailing an expedited schedule that anticipates a licensing decision for USEC Inc.'s American Centrifuge Plant in April 2007. The NRC’s Atomic Safety and Licensing Board had previously indicated that a licensing decision would be issued in May 2007.

USEC expects full-year revenue to total approximately $1.85 billion and a gross profit margin of approximately 18 percent. Net income for 2006 is expected to be approximately $105 million, which is an increase over the previous net income guidance of $65 to $75 million. The revised 2006 guidance is based on preliminary results that are subject to audit.

USEC has signed a long-term contract valued at more than $130 million with Nuclear Management Company of Hudson, Wis., for the sale of separative work units contained in enriched uranium fuel for NMC’s five nuclear power plants. The new contract runs from 2007 to 2013.

The U.S. Nuclear Regulatory Commission’s Atomic Safety and Licensing Board has issued an order detailing a tentative schedule that anticipates a licensing decision for USEC Inc.'s American Centrifuge Plant in May 2007. The NRC had previously indicated that a decision would be issued in March 2007.

USEC Inc. has signed a long-term contract valued at more than $200 million with PPL Susquehanna, LLC, to supply uranium enrichment for the company’s Susquehanna nuclear power plant in Luzerne County, Pa.

USEC Inc. finished the cleanup of its technetium-contaminated uranium inventories this month, the Company announced today. The 7,434 metric tons of uranium cleaned were part of an inventory of natural uranium transferred to the Company by the U.S. Department of Energy prior to USEC’s privatization.

USEC recently revised its uranium hexafluoride (UF6 ) manual that is used throughout the nuclear industry as a reference guide for management practices for handling, filling, emptying and shipping containers of UF6.

The U.S. Nuclear Regulatory Commission has issued its final Safety Evaluation Report for USEC’s American Centrifuge uranium enrichment plant. The SER found that the commercial plant would create no significant adverse safety impacts during its construction or operation. It also evaluated the facility’s administrative and management programs to ensure the safe design and operation of the plant.

$21.6 million net income for second quarter 2006; pro forma net income $38.4 million before American Centrifuge expenses; Revenue for quarter increases on higher sales of SWU and uranium; Six-months net income of $56.2 million; pro forma net income $85.3 million before American Centrifuge expenses; American Centrifuge activities updated; Mid-year update to revenue, earnings and cash flow guidance

The U.S. International Trade Commission ruled today that terminating the antidumping suspension agreement that limits imports of Russian uranium products would materially injure the U.S. uranium industry. By a 4-1 vote, the ITC found that lifting the 1992 Russian suspension agreement would likely cause material injury to domestic producers.

The 275 metric tons converted to date could generate enough electricity to meet the country’s demand for more than a year and contains the energy equivalent of 5.7 billion barrels of oil. The U.S. and Russian executive agents have a successful 13-year record of operating the program on a commercial basis at no cost to taxpayers.

The NRC found that the plant would create no significant adverse environmental or socioeconomic impacts during its construction or operations. The issuance of the EIS is the most recent achievement in USEC’s licensing of its American Centrifuge Plant, which began in August 2004.

“The critical element for the expansion of nuclear power is a stable supply of nuclear fuel – from uranium mining to enrichment to fabrication of the fuel assemblies. Utilities need to be confident that the fuel will be there if they are going to invest billions of dollars in new plants,” Welch explained.

USEC Inc. will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Wednesday, February 22, 2006, at 8:30 a.m. ET. The Company will release its earnings for the fourth quarter and year ended December 31, 2005 after markets close on February 21, 2006.

Wolf announced today that she will return to American Water Inc. in Voorhees, N.J. to facilitate that company’s potential sale or initial public offering as part of its divestiture from RWE. The German utility company announced in November that it plans to sell its water assets to focus on its energy business. Wolf will also join American Water’s board of directors.

Increases 2005 earnings guidance to range of $27 to $30 million after $56 million net of taxes American Centrifuge expense; 2006 earnings and cash flow from operations expected to continue positive trend; 2006 a critical year for American Centrifuge program; 2006 also critical for negotiating electric power cost until USEC can transition to American Centrifuge

Donelson is responsible for managing relationships with customers and overseeing the Company’s sales of enriched and natural uranium. Donelson joined USEC in 1995 in the advanced technology department. He later became a senior sales executive and most recently served as director, North American and European sales.

$5.2 million net loss for third quarter; pro forma net income $7.2 million before American Centrifuge expenses; $7.3 million net loss for nine months; pro forma net income $33.4 million before American Centrifuge expenses; Cash flow from operations improves $182.4 million year over year; SG&A expenses decline 20% compared to same quarter in 2004; John Welch leads USEC as chief executive officer

The Board of Directors of USEC Inc. today declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable December 15, 2005 to shareholders of record on November 25, 2005. This will be USEC’s 29th consecutive quarterly dividend payment since its initial public offering in 1998.

USEC’s utility customers have used Megatons to Megawatts fuel in more than 90 power reactors in 31 states. The fuel generates about 10 percent of America’s electricity each year. To date, the total fuel purchased from Russia could generate enough electricity to power the United States for one year.

Although USEC is disappointed by the court’s decision, we believe the U.S. government’s trade investigation has helped improve prices and return stability to the enrichment market in recent years. The investigation also showed unequivocally that Eurodif dumped LEU in the United States and received a subsidy through its domestic LEU sales, injuring a critical domestic industry.

Executive Vice President and Chief Operating Officer Lisa Gordon-Hagerty is leaving the Company as it realigns the business to sharpen the focus on the demonstration and deployment of the American Centrifuge, while maintaining reliable and efficient enrichment operations.

USEC Inc. has successfully closed on a five-year, $400 million bank credit facility, replacing a three-year, $150 million facility set to expire in late September. The facility is available to finance working capital needs, refinance existing debt and fund capital programs, including the American Centrifuge.

USEC Inc. will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Thursday, August 4, 2005, at 8:30 a.m. ET. The Company will release its earnings for the second quarter ended June 30, 2005, at the close of markets on Wednesday, August 3, 2005.

The approximately $400 million extension maintains USEC’s position as Exelon’s primary SWU supplier through 2012. This new agreement builds upon a nearly $700 million contract the companies signed in 2003 for the 2005-2010 period. Exelon Generation operates 17 reactors at 10 sites in Illinois, Pennsylvania and New Jersey.

Earnings of 1 cent per share compared to loss of 12 cents per share in 2004; Revenue totals $311 million; $22.2 million cost for American Centrifuge; $14 million impact on net income; Cash flow from operations of $80.5 million; cash balance of $242.4 million

The Board of Directors of USEC Inc. today declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable June 15, 2005 to shareholders of record on May 27, 2005. This will be USEC’s 27th consecutive quarterly dividend payment since its initial public offering in 1998.

USEC Inc. has signed a $200 million contract with Constellation Generation Group, the wholly owned subsidiary of Constellation Energy Group, to supply separative work units (SWU) to fuel the utility’s five nuclear power reactors. USEC has been a fuel supplier to Constellation for more than a decade. The new contract will cover deliveries from 2007 to 2012.

USEC has begun manufacturing centrifuge machine components for use in the American Centrifuge Demonstration Facility in Piketon, Ohio. The achievement is the ninth of 15 schedule milestones in USEC’s agreement with the U.S. Department of Energy to demonstrate and deploy next-generation uranium enrichment technology.

USEC Inc. will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Thursday, March 17, 2005, at 8:30 a.m. ET. The Company will release its earnings for the fourth quarter and fiscal year ended December 31, 2004, at the close of markets on Wednesday, March 16.

Over the past four years, the U.S. government’s trade experts have determined on multiple occasions that the sale and purchase of LEU under enrichment contracts is subject to U.S. antidumping and countervailing duty law. Nevertheless, in its opinion issued yesterday, the court failed to affirm these determinations.

As a senior vice president, Wright will join the senior management team and report directly to James R. Mellor, chairman and chief executive officer. Wright joined USEC in August 2003 as vice president, human resources and administration. He has been responsible for the strategic direction and implementation of the Company’s human resource management plans and programs for its 2,900 employees.

USEC has begun testing a full-size centrifuge machine. Most of the machine’s components were manufactured in USEC facilities in Oak Ridge, Tennessee. The centrifuge is currently being tested in the K-1600 facility, which was used until 1985 to develop and evaluate the original U.S. Department of Energy machines on which the American Centrifuge is based.

Stating that the existing international regime to combat nuclear proliferation does not fully address current problems, USEC offered several proposals to make the world more secure. At the core of USEC’s solution was a proposal for the U.S. government and the nuclear power industry to work together to construct a new generation of power plants fueled by recycled weapons-grade uranium.

The acquisition of NAC strengthens USEC’s position in the nuclear fuel cycle and allows the Company to provide a broader array of products and services, including transportation and storage systems for spent nuclear fuel and a wide range of nuclear and energy consulting services.

Hansen joined USEC in 1994 and played a key role in its privatization from the federal government, culminating in the Company’s initial public offering in 1998. James A. Schoettler, Jr., assistant general counsel, has been appointed acting general counsel while the Company conducts an external search for a successor.

The Board of Directors of USEC Inc. today declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable December 15, 2004, to shareholders of record on November 26, 2004. This will be USEC’s 25th consecutive quarterly dividend payment since its initial public offering in 1998.

USEC Inc. will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Thursday, November 4, 2004, at 8:30 a.m. ET. The Company will release its earnings for the third quarter ended September 30, 2004, at the close of markets on Wednesday, November 3.

225 metric tons of Russian weapons-grade uranium, the equivalent of 9,000 nuclear warheads, has been recycled into fuel purchased by USEC for use in America’s nuclear power plants. Acting as executive agents for the U.S. and Russian governments, USEC and Techsnabexport (TENEX) commercially implement this program, known as Megatons to Megawatts, at no cost to their governments.

Before granting the commercial plant license, the NRC will perform an extensive safety and environmental review. USEC’s American Centrifuge Plant will be housed in some of the same facilities where DOE operated hundreds of similar centrifuge machines in the 1980s. USEC’s license application for the American Centrifuge Plant seeks an initial annual production capacity of 3.5 million SWU.

USEC said the acquisition will enable the Company to offer nuclear utility customers an expanded portfolio of products and services, including transportation and storage systems for spent nuclear fuel and a wide range of nuclear and energy consulting services. NAC will operate as a separate, wholly owned USEC subsidiary under the NAC name and will continue to be headquartered near Atlanta.

French uranium enrichment firm Eurodif, S.A. has curtailed its unfair pricing of low-enriched uranium imports in the U.S. market, according to the final results of a follow-up trade proceeding issued by the U.S. Department of Commerce. USEC said the agency’s action is helping restore fair trade in the enrichment market.

USEC Inc. updated its net income guidance for 2004 in a range of $14 to $16 million, or 17 to 19 cents per share, based on higher volumes and prices for natural uranium, and improved SWU pricing. The Company previously projected its net income in a range of $6 to $8 million for the year.

McDonnell will be responsible for the strategic direction of information technology programs as well as overall physical and data security at the Company’s headquarters, in its Advanced Technology organization and at plant facilities in Paducah, Kentucky and Piketon, Ohio.

USEC CEO called for the establishment of more nonproliferation partnerships between the government and private sector, acknowledged the threats to global security posed by the illicit use of nuclear weapons technology, and indicated that recent proposals by President Bush and the IAEA are aimed at closing existing loopholes and arresting any further spread of the technology.

The Board of Directors of USEC Inc. declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable June 15, 2004, to shareholders of record on May 28, 2004. This will be USEC’s 23rd consecutive quarterly dividend payment since its IPO in 1998.

USEC Inc. (NYSE: USU) will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Thursday, April 22, 2004 at 8:30 a.m. ET. The Company will release its earnings for the first quarter ended March 31, 2004 at the close of markets on Wednesday, April 21.

Union membership voted on Wednesday, March 10, to ratify a labor contract that will be in effect for six years. Approximately 560 USEC employees are members of PACE Local 5-689. A majority of the membership approved the contract proposal.

Over the past 10 years, one unique and exciting U.S.-Russian program has eliminated 200 tons of Russian weapons-grade uranium -- equivalent to 8,000 nuclear weapons. Better still, this material is being recycled into fuel for U.S. nuclear power plants, enough to power a large U.S. city for nearly 300 years.

The Board of Directors of USEC Inc. today declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable March 15, 2004, to shareholders of record on February 27, 2004. This will be USEC’s 22nd consecutive quarterly dividend payment since its IPO in 1998.

U.S. government efforts to reduce the unfair pricing of enriched uranium imports have been effective, according to the preliminary results of an administrative review issued today by the U.S. Department of Commerce. USEC Inc. said the department’s action will benefit the long-term interests of the nuclear industry.

USEC Inc. and its Russian partner, Techsnabexport (TENEX), marked the 10th anniversary of the commercial implementation of the Megatons to Megawatts program, a unique government-industry partnership that recycles weapons-grade uranium from Russia into fuel for America’s nuclear power plants and has eliminated material equivalent to 8,000 nuclear warheads.

USEC Inc. announced that its uranium enrichment plants in Paducah, Kentucky and Piketon, Ohio have been recertified by the U.S. Nuclear Regulatory Commission for five years. The recertification represents the commission’s determination that the plants are in compliance with NRC safety, safeguards and security regulations.

Gordon-Hagerty will be responsible for USEC’s operations, including oversight of production, regulatory affairs and advanced technology. She joins USEC from the National Security Council, where she spent five years in a series of positions, including Director for Combating Terrorism, where she oversaw the federal government’s readiness and response to acts of terrorism.

USEC Inc. reported net income of $3.4 million or $.04 per share for the third quarter ended September 30, compared to $1.2 million or $.01 per share in the same period last year. For the nine months ended September 30, net income was $9.8 million or $.12 per share, compared to $12.6 million or $.15 per share during the same period in 2002.

USEC Inc. will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Thursday, October 30 at 8:30 a.m. ET. The Company will release its earnings for the third quarter ended September 30, 2003, at the close of markets on Wednesday, October 29.

In July, USEC announced that DOE would not extend funding for the Deposit Removal Program at the Portsmouth plant beyond September 30. That would have forced the termination of 116 USEC employees working under that DOE contract. The new funding announced today will enable those workers to be transferred to other DOE contract programs on which USEC works, through November 1, 2003.

USEC executives at an international nuclear nonproliferation conference in Moscow sponsored by the Carnegie Endowment for International Peace encouraged nonproliferation advocates from a dozen countries to support the rapid deployment of new nuclear power plants as a means of eliminating more nuclear warhead material worldwide.

The U.S. Court of International Trade today affirmed the U.S. Department of Commerce’s determinations on two of three general issues in the trade cases covering imports of European low-enriched uranium. The court affirmed the DOC’s determination that USEC constitutes the domestic industry. The court further affirmed that enrichment contracts are covered by countervailing duty law.

Wright will be responsible for the strategic direction and implementation of the Company’s human resource management plans and programs for USEC’s approximately 2,700 employees. He brings over 30 years of experience in human resources, working closely with boards of directors, company officers and employees in helping to achieve company goals.

Funding for the Deposit Removal Program at the Portsmouth, Ohio Plant will not be extended after September 30, 2003. The loss of this funding from DOE will result in the termination of approximately 116 USEC plant personnel working under a DOE contract effective October 3.

USEC Inc. will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Thursday, July 31 at 8:30 a.m. ET. The call follows the release at the close of markets on Wednesday, July 30 of USEC’s earnings for its second quarter ended June 30, 2003.

The U.S. Department of Commerce reaffirmed its position in the trade investigation of European enriched uranium imports. In response to a U.S. Court of International Trade ruling asking DOE for clarification, DOC again concluded that USEC is the sole domestic producer of low-enriched uranium and that all imports of LEU are subject to U.S. antidumping and countervailing duty laws.

USEC is ending its funding for research and development of the SILEX laser-based uranium enrichment process. USEC has been funding R&D on the SILEX process since 1996. USEC will now focus all of its advanced technology resources on the demonstration and deployment of USEC’s American Centrifuge uranium enrichment technology.

Shareholders hear that the Company continues to make progress on its strategic initiatives, including advanced technology, cost reduction and diversification. Chairman James R. Mellor also told shareholders that the strong emphasis the Board has placed on solid and conservative business practices has paid dividends at a time of declining investor confidence in corporate America.

USEC reported net income for its first quarter ended March 31, 2003, of $2.1 million or $.03 per share compared to net income of $4.3 million or $.05 per share in the same quarter last year. Results in 2002 included a special credit of $4.2 million (after tax) from a favorable change in cost estimate for consolidating plant operations.

Program has successfully eliminated the equivalent of 7,000 Russian nuclear warheads—signifying successful completion of more than one-third of this 20-year agreement to eliminate the equivalent of 20,000 nuclear warheads.

In a comprehensive analysis of the corporate governance practices at America’s largest public companies, Institutional Shareholder Services has determined that USEC Inc. is among the very best of America’s publicly traded companies. In measuring the quality of corporate governance at USEC, ISS calculated that the Company outperforms 99.9 percent of the companies in the Russell 3000.

The U.S. Nuclear Regulatory Commission has completed its initial review of USEC Inc.’s license application for the American Centrifuge Demonstration Facility in Piketon, Ohio and found the application acceptable for technical review. The NRC anticipates concluding its technical review by February 2004.

“Submission of this license application is an important event for USEC, the U.S. nuclear industry and power plant operators around the world,” said Dennis Spurgeon, USEC Executive Vice President and Chief Operating Officer. “We have delivered our blueprint for operating the American Centrifuge, a technology that will help ensure our position as the global leader in uranium enrichment.”

USEC Inc. reported a loss of $14.7 million or $.18 per share for the six-month period ended December 31, 2002, compared to earnings of $4.8 million or $.06 per share in the same period last year. As previously announced, the Company changed to a calendar fiscal year effective January 1, 2003. This report covers the six-month stub period ended December 31, 2002.

USEC Inc. will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Tuesday, February 4 at 8:30 a.m. ET. The call follows the release at the close of markets on Monday, February 3 of USEC’s earnings for the quarter and six-month period ending December 31, 2002.

USEC will site its Lead Cascade centrifuge uranium enrichment test facility at its Portsmouth plant in Piketon, Ohio. Operation of this advanced technology facility will demonstrate USEC enhancements to the U.S. Department of Energy’s proven centrifuge uranium enrichment technology.

USEC's Board of Directors has approved a change of the Company’s fiscal year end from June 30 to December 31, effective December 31, 2002. A transition report on Form 10-K, including audited consolidated financial statements for the six-month period July 1, 2002 to December 31, 2002, will be filed with the Securities and Exchange Commission in February 2003.

The Board of Directors of USEC Inc. declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable December 15, 2002, to shareholders of record on November 22, 2002.

Mr. Miller will lead all USEC activities related to identifying and pursuing opportunities for business partnerships, joint ventures and other new business arrangements. Mr. Miller has led corporate and strategy development activities for companies in telecommunications, information technology, the defense industry and management consulting.

USEC has received final proposals from the states of Kentucky and Ohio for a next generation test facility for enriching uranium fuel for commercial nuclear power plants. USEC sites in Paducah, Kentucky and near Portsmouth, Ohio are being considered for the Company’s “lead cascade” facility, which will showcase improvements to already proven U.S. gas centrifuge uranium enrichment technology.

USEC, TENEX and the electric utilities who use the Megatons to Megawatts fuel were among those honored during the Demiurgus Peace International Award Ceremony held in Zug, Switzerland on October 12. The event recognizes individuals and organizations for their outstanding achievements in strengthening peace among nations.

USEC has finalized a $121 million agreement with UT-Battelle LLC, approved by the U.S. Department of Energy, to expand cooperative efforts to deploy proven U.S. gas centrifuge uranium enrichment technology. The new Cooperative Research and Development Agreement extends through June 2007 and will be funded entirely by USEC.

USEC’s Executive Vice President and Chief Operating Officer Dennis Spurgeon told the World Nuclear Association in London that USEC’s commercial-sized centrifuge module will showcase improvements to the U.S. Department of Energy’s proven centrifuge uranium enrichment technology. USEC is confident that the technology will be the world’s most efficient process for enriching uranium for nuclear fuel.

Since its formation in 1999, the Council has served as an invaluable resource that brings a wealth of diverse expertise to bear on USEC interests and activities pertaining to the nuclear and electric power industry and market, national security and advanced technology.

The Board of Directors of USEC Inc. declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable September 15, 2002, to shareholders of record on August 23, 2002.

Hansen will serve as USEC’s principal legal and corporate governance officer. He joined USEC in 1994 as Assistant General Counsel. In this position, he managed many of the legal aspects of USEC’s privatization, including the development of legislation and preparation for the Company’s initial public offering.

The U.S. and Russian governments have approved implementation of new, flexible market-based pricing terms for the remaining 12 years of the historic Megatons to Megawatts national security program. The new flexible pricing terms will go into effect in January 2003.

Ferguson will be responsible for government relations and corporate communications. She has an extensive background in public affairs and communications. Her most recent position was Managing Director of Qorvis Communications Inc.

The Board of Directors of USEC Inc. appointed PricewaterhouseCoopers LLP as the Company’s independent accountants. PricewaterhouseCoopers is now scheduled to perform the audit of USEC’s consolidated financial statements for the fiscal year ended June 30, 2002.

The Board of Directors of USEC Inc. declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable June 15, 2002, to shareholders of record on May 24, 2002.

USEC Inc. will broadcast its next conference call with the financial community over the Internet on Thursday, April 25 at 8:30 a.m. ET. The call follows the release of USEC’s third quarter fiscal 2002 earnings at the close of markets on Wednesday, April 24.

Senior U.S. District Court Judge Alexander Harvey II has dismissed a federal securities lawsuit filed against USEC Inc. related to the initial public offering of common stock in July 1998. In the opinion dismissing the lawsuit, the Court found the prospectus contained detailed and meaningful cautionary language tailored to the specific risks that USEC faced.

USEC will consolidate its transfer and shipping operations at the Paducah plant. Consolidation of these operations is expected to generate about $40 million in annual cost savings beginning in fiscal year 2003 with full annual savings reflected in USEC’s earnings gradually over the next three to four years.

The U.S. International Trade Commission ruled today that low-enriched uranium imports from Europe are harming the U.S. uranium enrichment industry. In a unanimous vote, the ITC determined that these imports have materially injured and/or threaten to materially injure USEC Inc., the sole domestic supplier of enriched uranium.

USEC Inc. will broadcast its next conference call with the financial community over the Internet on Thursday, January 24 at 8 a.m. ET. The call follows the release of USEC’s second quarter fiscal 2002 earnings at the close of the market on Wednesday, January 23.

“This agreement is a success for all of us. We will continue to work closely with the PACE union to continue to maintain our high safety and reliability records and work together towards greater plant efficiencies,” said USEC’s Vice President of Operations Morris Brown.

The Board of Directors of USEC Inc. (NYSE: USU) today declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable December 15, 2001, to shareholders of record on November 23, 2001.

USEC reported a loss for its first quarter ended September 30, 2001 of $(4.7) million, or $(.06) per share, compared with a profit of $4.6 million or $.06 per share in the same period last year. The result was in line with guidance provided in August, and the Company's full-year guidance of $35 to $40 million net income has not changed.

Dennis Spurgeon, USEC executive vice president and chief operating officer, said, “We have a strategic vision for where we are going and the path to get there. We are improving the productivity and efficiency of our existing gaseous diffusion plants in order to establish a solid foundation of financial strength and vitality that will enable us to embark on a program of new technology.”

The terms of the nearly half billion-dollar contract call for USEC to provide up to 100 percent of Palo Verde’s enriched uranium requirements from October 1, 2003 through the end of 2008, with options for extensions into later years. USEC already supplies fuel for the Palo Verde station under an existing contract.

Paquette has been a major figure in the electric utility and nuclear industries, serving as Chairman, President and Chief Executive Officer of PECO Energy Company until his retirement in 1997. He has also served as Chairman of the Edison Electric Institute and a member of the Board of Directors of the Institute of Nuclear Power Operations.

The Board of Directors of USEC Inc. declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable September 15, 2001 to shareholders of record on August 24, 2001.

To relieve the impact of this dumping on the sole domestic enricher, USEC Inc., the DOC has determined that duties should be imposed on future imports of enriched uranium produced by Eurodif, S.A., a French government-controlled entity, and Urenco, Ltd.’s British operation.

USEC officially notified the Department of Energy in a letter that its Portsmouth Gaseous Diffusion Plant in Ohio ceased production of enriched uranium on Friday, May 11, 2001. USEC has leased the facility from DOE since 1993 for the purpose of enriching uranium to make fuel for commercial nuclear power plants.

Speaking at a meeting sponsored by the Carnegie Endowment for International Peace and the Monterey Institute of International Studies in Washington, D.C., Timbers enumerated the seven-year results of the $12 billion, 20-year U.S.-Russian program to convert 500 metric tons of Russian highly enriched uranium (HEU) into nuclear power plant fuel.

For the past three years, Woo has served as Director, Power Resources Group, where he has been responsible for negotiating USEC’s power contracts and managing its power operations. In his new capacity, Woo will coordinate strategic initiatives, develop strategic opportunities and lead select negotiations.

The plan is designed to maximize the value of the Company for its shareholders in the event of any unsolicited attempt to acquire the Company. Under the plan, one right will be distributed as a dividend for each share of common stock of the Company held by shareholders of record as of the close of business on May 9, 2001. The rights will expire on May 9, 2011.

USEC Inc. will broadcast its next conference call with the financial community over the Internet on Thursday, April 26 at 8:30 a.m. ET. The call follows the release of USEC’s third quarter earnings at the close of the market on April 25, 2001.

In compliance with the Worker Adjustment and Retraining Notification (WARN) Act, the United States Enrichment Corporation (USEC) is issuing a public notification of expected employee reductions at the Portsmouth Gaseous Diffusion Plant, beginning June 1. These employee reductions are associated with the ceasing of enrichment operations announced in June 2000.

Under the terms of an agreement, the United States Enrichment Corporation (USEC), Techsnabexport (Tenex) and ConverDyn will work cooperatively on USEC’s return of natural uranium to Russia in connection with the continuing implementation of the U.S.-Russian Megatons to Megawatts program.

USEC reported earnings for its second quarter ended December 31, 2000 of $20.9 million, or $.26 per share, compared to $32.6 million or $.36 per share in the previous year. During the six-month period ended December 31, 2000, USEC earned $25.5 million or $.31 per share, compared to $48.7 million or $.52 per share in the same period last year.

The Board of Directors of USEC Inc. declared a quarterly dividend of 13.75 cents per share on USEC’s common stock. The dividend is payable March 15, 2001 to shareholders of record on February 23, 2001.

The U.S. International Trade Commission ruled that enriched uranium imports from Europe are harming the U.S. uranium enrichment industry. In a 4-0 vote, the ITC made its preliminary determination that these imports have materially injured USEC.

In petitions filed December 7 with the DOC and the U.S. International Trade Commission (ITC), USEC charged that its European competitors, Eurodif S.A., through its U.S. sales agent Cogema, and Urenco, Ltd., are selling enriched uranium into the U.S. market below their cost of production and benefiting from unfair government subsidies in their home markets.

USEC's CEO outlined the vision and goals for USEC, including: increase production efficiencies and continue to reduce costs; decide in 2001 on new enrichment technology; implement market-based terms under the Russian HEU contract, beginning in 2002; enhance profitability of sales; and seek out new business opportunities and relationships to produce new revenue streams

In his new position, Brown will be responsible for production-related activities and operations at USEC’s uranium enrichment plants near Portsmouth, Ohio, and in Paducah, Kentucky. He has served as General Manager at the Portsmouth plant since March 1998.

The call with shareholders and analysts will be open to listeners who log in through the Company’s website, www.usec.com. A link to the live call will be available in the Investor Relations section.

This work will enable the company to determine the feasibility of deploying a centrifuge plant in the United States, while continuing to review other technology options. The Cooperative Research and Development Agreement provides that employees from USEC and DOE’s Oak Ridge National Laboratory will partner for at least one year to begin development of a new centrifuge design.

Sewell joined USEC in 1993 and has most recently served as Vice President for Corporate Development and International Trade and Security. In that capacity, he is responsible for the implementation of the Russian HEU contract, specific strategies related to identifying new business opportunities, and all international trade issues.

EPS of $.10 After Special Charges and Inventory Adjustment; Cash Flow From Operations Provides $262.8 Million; Debt Reduced $35 million in 4th Quarter, Year-end Net Cash $23 Million

USEC Inc. has completed installation of seismic modifications to upgrade the Paducah Gaseous Diffusion Plant. This ensures that all Paducah plant facilities are in compliance with U.S. Nuclear Regulatory Commission seismic requirements.

Under terms of the agreement, TVA will provide reliable, competitively priced electricity to the Paducah production facility beginning in September 2000. TVA will expand sales to USEC, a major industrial customer with a desirable electric load profile. Paducah has a large, around-the-clock electric load and is able to significantly reduce power consumption during the summer.

USEC has paid $2.5 million to Silex Systems Ltd. of Australia, following the recent announcement of an Agreement of Cooperation between the United States and Australia. The Agreement makes possible ongoing development work on SILEX.

The financial effect of the decision by USEC’s Board of Directors will be a reduction in fixed production costs of approximately $55 million in fiscal 2002 as uranium enrichment at Portsmouth ceases. Production will continue at both plants until June 2001, when it is expected that the Paducah plant will have been upgraded, certified and tested to produce finished customer product.

USEC has signed a power supply agreement for the summer of 2000 with the Ohio Valley Electric Corporation 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 Inc. reported earnings for its third quarter ended March 31, 2000 of $22.6 million or $.25 per share, compared to $16.2 million or $.16 per share in the previous year. During the nine-month period ended March 31, 2000, the Company earned $71.3 million or $.77 per share, compared to $56.9 million or $.57 per share, excluding a special income tax benefit in the fiscal 1999 period.

The United States Enrichment Corporation’s Portsmouth Uranium Enrichment Plant this week concluded a historic program that diluted 14 metric tons of highly enriched uranium stockpiled by the U.S. Government for defense purposes. The project began on December 15, 1994, with the signing of a Memorandum of Agreement by U.S. Department of Energy and USEC.

Employees at the United States Enrichment Corporation’s Portsmouth uranium enrichment plant set a new safety record on February 7, 2000, by working a total of 1,507,959 hours or 133 days without experiencing a Lost Work Day Case - Days Away from Work recordable injury.

USEC has signed an agreement with the Korea Electric Power Corporation to extend its nuclear fuel enrichment supply contract with the utility for an additional three years, from calendar year 2007 through 2009. KEPCO has also agreed to additional enrichment purchases between 2004 and 2007. All together, the new agreement amounts to approximately $150 million in new business.

USEC Inc. reported earnings for its second quarter ended December 31, 1999 of $32.6 million, or $.36 per share, compared to $32.1 million or $.32 per share in the previous year. On a per share basis, earnings rose by 13 percent due to the Company’s share repurchase program.

Executive Vice President Jeffry E. Sterba will join Public Service Company of New Mexico as the company’s president. Sterba will commence his new responsibilities in mid-March, and it is expected that he will assume the role of PNM’s CEO in the future. Sterba had previously served 21 years at PNM.

USEC, having successfully completed its initial phase of research, it will begin funding further research on SILEX technology, an advanced laser-based uranium enrichment process. USEC has the exclusive rights to the commercial use of the SILEX process for uranium enrichment being developed by Silex Systems Limited in Australia.

Under the agreement, which has an estimated value of $725 million, USEC will provide uranium enrichment services and uranium feed to fuel TVA’s Sequoyah 1 and 2 and Watts Bar 1 commercial nuclear power reactors. The 10-year contract begins in calendar year 2001 and supplies 100 percent of enrichment requirements for the three reactors, with options for extension.

USEC's Board of Directors has decided that the Company will continue to serve under existing terms as the U.S government’s Executive Agent for the purchase of Russian enriched uranium fuel derived from Russian nuclear warheads.

Building an investment in USEC Inc. has become easier, thanks to USEC-Invest. This new direct stock purchase and dividend reinvestment plan offered by the company gives investors easy-to-use alternatives for buying USEC stock, while minimizing transaction costs.

USEC reported earnings for its first quarter ended September 30, 1999 of $16.1 million, or $.16 per share, compared to $8.6 million or $.09 per share in the previous year, excluding a special income tax benefit in the fiscal 1999 period. Net income for the first quarter of fiscal 1999, including the tax benefit, was $63.1 million or $.63 per share.

Rifakes said, "The USEC experience was unique, unparalleled in my career and very much appreciated. I am grateful for the opportunity I had to work with many dedicated and talented people." Before joining USEC, Mr. Rifakes was Vice President of Commonwealth Edison Company in Chicago, Illinois, where he was employed since 1957.

A U.S. Department of Energy news release issued today says that, "The stand down will not directly affect operations of the U.S. Enrichment Corporation, which enriches uranium for use as fuel for nuclear power reactors and is regulated by the Nuclear Regulatory Commission."

The Board of Directors of USEC Inc. declared a quarterly dividend of 27.5 cents per share on USEC’s common stock. The dividend is payable September 15, 1999 to shareholders of record on August 27.

USEC’s Board of Directors and management reached this decision after a comprehensive review of operating and economic factors. The company has begun taking steps to terminate AVLIS efforts with its contractors, implement workforce reductions and conduct an orderly ramp-down of AVLIS activities at Lawrence Livermore National Laboratory in California.

The United States Enrichment Corporation, a subsidiary of USEC Inc., has taken over direct operation of its production facilities in Paducah, Kentucky and near Portsmouth, Ohio. Previously employed by operations contractor Lockheed Martin Utility Services, the workforce of approximately 4,000 are now employees of USEC.

The Board of Directors of USEC Inc. has declared a quarterly dividend of 27.5 cents per share on USEC’s common stock. The dividend is payable June 15, 1999 to shareholders of record on May 28, 1999.

To increase efficiencies in its uranium enrichment business, USEC Inc. is initiating the second phase of a reduction in force program for employees at its Paducah, Kentucky, and Portsmouth, Ohio, production plants.

Ellsworth’s career on Capitol Hill spanned more than 21 years, beginning as Staff Director and Minority Counsel on the House Committee on Interior and Insular Affairs. In 1981, he moved to the Senate Committee on Energy and Natural Resources, where he served as Deputy Chief Counsel, Minority Chief Counsel and Chief Counsel.

USEC Inc. reported net income of $32.1 million on revenue of $422.4 million for the second fiscal quarter ended December 31, 1998. Earnings per share for the quarter were $.32. Net income for the six-month period ended December 31, 1998 was $40.7 million or $.41 per share, excluding a special income tax benefit.

Speight, who is responsible for ConverDyn's sales and marketing of UF6 conversion services to U.S. utility customers, will join USEC in early January to direct the company's North American sales. Speight will report to Robert Van Namen, recently named USEC's Vice President of Marketing and Sales.

The changes are expected to be effective January 1, 1999. The corporate restructuring is another in a series of post-privatization initiatives consistent with streamlining operations. In November, USEC announced that in the next six months it will take over direct operation of its production facilities from Lockheed Martin Utility Services, its current operations and maintenance contractor.

The meeting will be held on February 2, 1999 at 10 a.m. at the Bethesda Marriott Hotel, 5151 Pooks Hill Road, Bethesda, Maryland. Shareholders of record on December 4, 1998 will be entitled to attend and vote at the meeting, or vote by proxy.

USEC declared the Company’s first regular quarterly dividend payment of $.275 per share, payable December 15, 1998 to shareholders of record November 25. An annualized dividend of $1.10 per common share was indicated in the Initial Public Offering Prospectus dated July 22, 1998.

USEC has initiated a site selection process for a new production facility utilizing AVLIS, its proprietary next-generation laser-based uranium enrichment process. Sites throughout the United States are being considered to host this first-of-a-kind, high-tech facility. A site is expected to be selected early next year.

To increase efficiencies in its uranium enrichment business, USEC Inc. is initiating a voluntary reduction in force program for employees at the Paducah, Kentucky, and Portsmouth, Ohio, gaseous diffusion plants. Prior to USEC's privatization in July 1998, USEC identified excess positions that could be eliminated over a two-year period.

The government received approximately $1.9 billion from the sale of USEC, which included the proceeds from the sale of equity securities, plus $500 million in cash from a USEC borrowing in the bank market. In addition, the government retained approximately $1.2 billion in cash from USEC's bank account at Treasury.

USEC is a federally chartered entity owned by the United States Government. Today's decision culminates a wide-ranging, intensive process to determine the best method of privatizing USEC, the world leader in the production and sale of uranium enrichment services for commercial nuclear power plants.