News Release

BETHESDA, Md.--(BUSINESS WIRE)--Jul. 20, 2009-- USEC Inc. (NYSE:USU) announced today that an amendment to its contract with the Russian government entity JSC “Techsnabexport” (TENEX) implementing the U.S.-Russian HEU-LEU agreement, known as the Megatons to Megawatts program, has been approved by both the U.S. and Russian governments.

The amendment, which was entered into in February, implements a new pricing methodology for deliveries of low enriched uranium (LEU) from TENEX starting in 2010 and continuing through the end of the contract in 2013. The new pricing methodology is intended to enhance the stability of future pricing for both parties through a formula that combines a different mix of price points and other pricing elements from the previous methodology. The U.S. government approved the contract amendment on April 2 and the government of the Russian Federation approved it on July 11.

The Megatons to Megawatts program is a unique, commercially financed government-industry partnership in which 500 metric tons of weapons-grade uranium from dismantled Russian nuclear warheads are being recycled into LEU used to produce fuel for American nuclear power plants. USEC, as executive agent for the U.S. government, and TENEX, acting for the Russian government, implement this 20-year program.

As of June 30, 2009, 367 metric tons of weapons-grade highly enriched uranium from Russian nuclear warheads had been recycled into 10,621 metric tons of LEU, equivalent to 14,686 nuclear warheads eliminated.

USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.

Source: USEC Inc.

USEC Inc.
Media: Elizabeth Stuckle, 301-564-3399
Investors: Steven Wingfield, 301-564-3354