DOE Confirms Fluor-Led Winning Team at Savannah River Site

Protests Resolved by GAO; 90-Day Transition to Begin Immediately

Fluor, Northrop Grumman, Honeywell and Lockheed Martin Comprise
Winning Team
IRVING, Texas--(Business Wire)--
Fluor Corporation (NYSE:FLR) announced today that the Department
of Energy (DOE) confirmed its January 2008 selection of Savannah River
Nuclear Solutions, LLC, a Fluor-led team, as the winning bidder for
the management and operating (M&O) contract at the Savannah River Site
near Aiken, S.C. The estimated $4 billion contract is over a five-year
period. Additionally, there are five, one-year renewal options
bringing the potential total contract value to $8 billion. To date, no
specific contract amounts have been booked into Fluor's backlog. Fluor
expects to start booking earnings from the M&O contract into backlog
in the third quarter of 2008.

Work under the Savannah River Site M&O contract award had yet to
commence while the U.S. Government Accountability Office (GAO)
resolved protests by a competitor. A 90-day transition period at the
Site will begin immediately.

"We are glad to have these protests resolved and to be able to
move forward. Throughout this process we have remained confident in
our team and in our proposal," said John Hopkins, group executive of
Fluor Corporation. "The combined vision, knowledge and expertise of
our team will enable us to meet the DOE's expectations, as well as
those of the Site employees and the neighboring South Carolina and
Georgia communities."

"Within the DOE Complex, Fluor has performed extremely well and we
look forward to doing so again at the Savannah River Site. Our
employees and team members understand and respect the many missions of
the DOE at Savannah River and we are ready to get underway," said Ken
Smith, senior vice president of Fluor's Government Group.

DOE's Savannah River Site focuses on supporting and maintaining
the nuclear-weapons stockpile as well as processing and storing
nuclear materials in support of U.S. nuclear non-proliferation
efforts. Work performed at the Site includes environmental management
and the cleanup of legacy materials, facilities, and wastes left over
from the Cold War. The Savannah River National Laboratory, a
federally-funded research and development center, is also located at
the Site.

Savannah River Nuclear Solutions LLC (SRNS) was formed by Fluor
Corporation (NYSE: FLR) with team members Northrop Grumman (NYSE:
NOC), Honeywell (NYSE: HON) and Lockheed Martin (NYSE: LMT). Key
personnel from each company comprise the SRNS senior management team,
under the leadership of president and chief executive officer Chuck
Munns. Munns formerly served as a vice admiral in the U.S. Navy, where
he was responsible for the U.S. Submarine Force worldwide.

Since 1996, Fluor has worked as a DOE prime contractor at the
Hanford Site in Washington State. Fluor Hanford and its 3,600
employees manage several major activities including dismantling former
nuclear processing facilities, cleaning up the Site's contaminated
groundwater, maintaining the Site's infrastructure, and operating the
Volpentest HAMMER Training & Education Center. From 1992 to 2006,
Fluor executed nuclear cleanup work at the DOE's Fernald Site near
Cincinnati, Ohio. The project was originally estimated to take as much
as 27 years to complete at a cost of $12.2 billion. Fluor Fernald
completed the cleanup years ahead of schedule and billions of dollars
under the projected budget.

About Savannah River Nuclear Solutions

Following a 90-day transition period, SRNS will be responsible for
management and operating the DOE's Savannah River Site with a
workforce of approximately 6,200 employees. Headquartered in Aiken,
S.C., SRNS is a limited liability company formed by defense, energy,
technology and manufacturing industry leaders Fluor, Northrop Grumman
and Honeywell. For additional information, visit
www.savannahrivernuclearsolutions.com.

About Fluor

Fluor Corporation (NYSE: FLR) provides services on a global basis
in the fields of engineering, procurement, construction, operations,
and maintenance and project management. Headquartered in Irving,
Texas, Fluor is a FORTUNE 500 company with revenues of $16.7 billion
in 2007. For more information, visit www.fluor.com.

(FLRG)

Fluor Corporation
Media Relations:
Keith Stephens, 469-398-7624
Brian Mershon, 469-398-7621
or
Investor Relations:
Ken Lockwood, 469-398-7220
Jason Landkamer, 469-398-7222

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