USEC Cites Progress on Extending American Centrifuge Project Work

USEC Inc.

and the U.S. Department of Energy (DOE) 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 (RD&D) program. Based on the progress made to date, and the expected near-term completion of the agreements needed to provide such cost-shared funding, USEC is working with the administrative agent and the lenders for the Company's credit facility to extend for a short time USEC's ability to continue with work on the project until the agreements are finalized. Currently, USEC's credit facility severely limits corporate funding of the project if no federal cost sharing is made available by June 1.