Press Releases

News Release —April 18, 2006

New UniStar Executives Drive Toward
New Nuclear Power Plants

Organization built to accelerate licensing activities
for a fleet of U.S. EPRs

BALTIMORE, April 18, 2006 –UniStar Nuclear today announced the appointment of three executives who add significant new capabilities to the company's senior management team as it moves forward to license, build and operate the nation's first fleet of standardized nuclear power plants.

Rod M. Krich will serve as senior vice president for regulatory affairs. Brought on specifically to advance UniStar's Construction and Operating License application process, Krich will coordinate activities with the Nuclear Regulatory Commission, as well as oversee interactions with other nuclear regulatory bodies at the federal, state and local levels for UniStar.

Dr. Shawn Hughes comes aboard as senior vice president of project management, where he will oversee major projects for new nuclear power plants. Hughes first joined Constellation Energy in 2004 as manager of nuclear projects.

Dinesh Mehta joins UniStar Nuclear as its chief financial officer. He currently serves as divisional vice president, financial modeling, for Constellation Generation Group.

“The additions of Rod Krich, Shawn Hughes and Dinesh Mehta to the UniStar Nuclear team demonstrate how quickly and seriously we are moving along the path toward building a fleet of environmentally friendly nuclear power plants that can help move our nation toward energy independence. All of these skilled leaders have tremendous experience and capabilities in their respective disciplines, which are key to UniStar Nuclear's success“ said Mike Wallace, co-CEO of UniStar Nuclear and president of Constellation Energy Generation Group..

Additional nuclear generating capacity will provide a cost-effective, price-stable, and vital component to our energy mix in meeting the growing national demand for electricity. The Energy Information Administration is predicting 50 percent growth in electricity use by 2030, from 3.6 trillion kilowatt hours to 5.3 trillion kilowatt hours, second only to petroleum in growing energy demand.

According to George Vanderheyden, president of UniStar Nuclear, “the company is building a team to ensure that we build a fleet of advanced reactors which achieves the highest levels of reactor safety, security and reliability to meet the nation's growing energy needs.“

“Our ability to license this fleet and to work collaboratively and effectively with regulators at all levels will be a major factor in our success. Rod Krich's experience and approach to building solid working relationships with regulators will be a tremendous asset for UniStar Nuclear,“ Vanderheyden said. Krich previously served as vice president of licensing projects for Exelon Nuclear, where he led licensing activities on future nuclear generation, assisted with the Yucca Mountain project licensing effort and managed strategic licensing issues related to the development of a new approach to licensing new reactors. Most recently, Krich led the effort to obtain a combined construction and operating license for the first gas centrifuge uranium enrichment facility to be licensed in the United States. He also served as vice president for regulatory affairs for Exelon, where he was responsible for interfacing with the Nuclear Regulatory Commission and state regulatory agencies. Krich holds a bachelor's degree in mechanical engineering from the New Jersey Institute of Technology and a master's degree in nuclear engineering from the University of Illinois at Urbana-Champaign..

“UniStar is working with the NRC in innovative ways on the new combined Construction and Operating License process,“ said Krich. “We realize how critical it is to have sections of this very detailed application reviewed early, get issues resolved early and avoid any possible backlogs as other applications come rolling in later.“

Dr. Hughes has more than 25 years of experience in the nuclear power industry, primarily in engineering and construction, including construction management assignments at Tennessee Valley Authority nuclear plants and senior project management assignments at Department of Energy nuclear facilities with Washington Group International. He holds a B.S. in Civil Engineering from the University of New Hampshire, an M.S. in Civil Engineering from the University of Tennessee and a Ph.D. in Industrial/Systems Engineering and Engineering Management from the University of Alabama in Huntsville. He is a registered Professional Engineer in Tennessee.

Dinesh Mehta brings nearly 20 years of experience in financial analysis to support commercial energy and merchant asset transactions. Prior to joining Constellation, he held financial leadership positions at PG&E National Energy Group, Public Service Enterprise Group and Airco Industrial Gases - the BOC Group. Mehta holds a master of business administration from the University of Michigan and a bachelor's degree in mechanical engineering from Concordia University.

Corporate Profiles

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.

BWXT, headquartered in Lynchburg, Virginia, is the premier manager of high-consequence nuclear and national security operations. The Company is a proven leader in fuel development and fabrication, nuclear component manufacturing, nuclear plant design, nuclear facility operations and advanced nuclear research. BWXT has delivered the most sophisticated nuclear components ever produced and has consistently achieved excellence in the safe and efficient conduct of nuclear operations while meeting rigorous customer requirements. The Company's diverse capabilities also include decontamination and decommissioning, waste management, engineering, and project management services. BWXT has more than 11,000 employees in 11 states

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