Fluor Team Concludes Negotiations for Nation's Largest Rail Transportation Contract

ALISO VIEJO, Calif., June 3 /PRNewswire-FirstCall/ -- Fluor Corporation today announced Cascadia Monorail Company, the limited liability entity formed specifically to compete for the Seattle Monorail Green Line, has successfully concluded negotiations with the Seattle Monorail Project (SMP) to design, build, operate and maintain a 14-mile monorail to enhance travel between downtown Seattle and its surrounding communities.

"After several years in a developmental stage, this agreement is a positive step forward in the viability and advancement of this critically important infrastructure project for the city of Seattle," says Pat Flaherty, president of Cascadia Monorail Company. "We look forward to working closely with the SMP to successfully deliver this monorail project to the citizens of Seattle."

Full disclosure of the agreement's details, including the project scope, construction schedule and price are expected to be made on June 20 by SMP, after final documents have been reviewed and conformed. Design and construction completion is scheduled for December 2010.

"We are pleased to have achieved this significant milestone in the development of the monorail project. Subject to approval of the SMP Board and placement of initial financing, we anticipate being able to sign the contract in the middle of August and include this project as a new award in our fiscal third quarter," added Flaherty.

"Being able to move forward with this world-class team of companies to build the Monorail Green Line is a great opportunity for everyone involved, including the people of Seattle," said Joel Horn, executive director of the Seattle Monorail Project. "The tremendous experience of the Cascadia companies will be brought to bear to ensure the success of this project."

Cascadia Monorail Company's team consists of well-respected industry leaders and a significant local presence. Led by Fluor, this consortium of more than 20 award-winning urban mass transit firms includes Hitachi, Mitsui, Alcatel, HDR Engineering, Howard S. Wright Construction Co., Hoffman Construction, RCI Construction Group, Atkinson Construction, as well as other Seattle and Washington state contractors and consultants.

Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Aliso Viejo, California, Fluor is a FORTUNE 500 company with revenues of $9.4 billion in 2004. For more information, visit http://www.fluor.com/.

Contacts: Lisa Boyette Media Relations 949.349.3652 tel Lila Churney Investor Relations 949.349.3909 tel