Press Releases

News Release —March 9, 2006

UniStar Nuclear Announces Members of Advisory Board

Board Comprised of Nuclear Experts From
Industry, Government and Academia

BALTIMORE, March 9, 2006 –UniStar Nuclear, a leading developer of new nuclear facilities in North America, today announced the members of its recently created advisory board. The distinguished list is composed of leaders from business, government and academic sectors of the nuclear power and energy industry.

UniStar Nuclear is a joint venture between Constellation Energy and AREVA, Inc., that brings together an experienced nuclear fleet operator and owner and a preeminent nuclear reactor vendor. UniStar has selected the U.S. EPR, a 1,600 megawatt evolutionary power reactor, as its technology of choice to develop and deploy in North America.

According to UniStar co-chief executive officer Michael J. Wallace, the board will be a great asset in the ongoing work to deploy the first new nuclear facilities in the United States in more than three decades.

“We selected advisory board members who will provide us with technical expertise, business leadership and political acumen,“ said Wallace, who also serves as president, Constellation Generation Group and executive vice president, Constellation Energy. “As we seek to develop new nuclear plants, the advice of these board members will provide critical guidance to this effort. Today's announcement is yet another sign of the continuing momentum of the UniStar Nuclear joint venture.“

Members of the UniStar Nuclear Advisory Board include:

Richard Meserve, Ph.D., Dr. Meserve served as the chairman of the Nuclear Regulatory Commission (NRC) under Presidents George W. Bush and William J. Clinton and is currently president of the Carnegie Institution, an organization devoted to scientific discovery. He earned a law degree from Harvard Law School and a Ph.D. in applied physics from Stanford University.

General John Gordon (U.S. Air Force, Ret.), Gen. John Gordon served President George W. Bush as assistant to the President and Homeland Security Advisor and as the Deputy National Security Advisor for Counter Terrorism and the National Director for Counter Terrorism. A retired Air Force General, he was Undersecretary of Energy and the first administrator of the National Nuclear Security Administration. He has been Deputy Director of Central Intelligence and spent thirty-two years in the Air Force with a concentration on research and development, strategic planning, missile and space operations, inter-governmental operations, and international negotiations. General Gordon holds a master's in physics from the Naval Postgraduate School and a master's degree in management from New Mexico Highlands University.

Mr. James Asselstine, J.D., Mr. Asselstine is currently a managing director for Lehman Brothers. The team he leads at Lehman Brothers is responsible for credit research coverage of more than 100 U.S. investor-owned electric utilities and developers of independent power projects. He also served as an NRC Commissioner from 1982 -- 1987. Mr. Asselstine holds a bachelor of arts degree in political science from Virginia Polytechnic Institute, and a law degree from the University of Virginia School of Law.

Mr. Kyle McSlarrow, J.D., Mr. McSlarrow currently serves as president and chief executive officer of the National Cable and Telecommunications Association (NCTA). Prior to joining NCTA in 2005, Mr. McSlarrow served as the U.S. Deputy Secretary of Energy. He also served on President George W. Bush's Management Council and as the American co-chair of the U.S.-Russia Energy Working Group. A Virginia native, McSlarrow earned degrees from Cornell University and the University of Virginia School of Law.

Neil Todreas, PhD., Dr. Todreas is a professor of nuclear science and engineering and professor of mechanical engineering at the Massachusetts Institute of Technology (MIT). He performs cutting edge nuclear research as a member of the MIT faculty and writes extensively about innovations within the industry. He received his master's degree in mechanical engineering from Cornell University and his doctorate in nuclear engineering from MIT.

UniStar co-chief executive officer Thomas A. Christopher said that the advisory board will be mainly focused on issues such as U.S. energy security, U.S. EPR safety and reliability, and accelerated development of the U.S. industrial and resource infrastructure to support the design, construction and operation of U.S. EPRs. “We have said all along that we believe we have the right team at the right time with the right technology,“ said Christopher, who is also the chief executive officer for AREVA, Inc. “The members of this advisory board will provide valuable guidance in support of our accelerated program to use U.S. resources to make new nuclear power a reality and address our nation's growing demand for reliable and affordable electricity.“

UniStar Nuclear (www.unistarnuclear.com) is headquartered in Annapolis, Md. .

Constellation Energy (www.constellation.com), a FORTUNE 200 company with 2006 revenues of $19.3 billion, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 78 generating units located throughout the United States, totaling approximately 8,700 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.

As the leading U.S. nuclear supplier and a key player in the electricity transmission and distribution sector, AREVA's 5000 American employees are committed to serve the nation and pave the way for the future of the electricity market. The company's commitment to America is reflected in its initial investment of $200 million in the U.S. EPR. With 40 locations across the nation and $1.8 billion in revenues in 2005, AREVA combines homegrown leadership, access to worldwide expertise and a proven track record of performance. In the U.S. and in over 100 countries around the world, AREVA is engaged in the 21st century's greatest challenges making energy available to all, protecting the planet and acting responsibly towards future generations. AREVA Inc. is headquartered in Bethesda, Md. Visit us at www.us.areva.com.

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