News Release

BETHESDA, Md.--(BUSINESS WIRE)--Jan. 22, 2001--The U.S. International Trade Commission (ITC) ruled today that enriched uranium imports from Europe are harming the U.S. uranium enrichment industry. In a 4-0 vote, the ITC made its preliminary determination that these imports have materially injured USEC Inc. (NYSE: USU), the sole domestic supplier of enriched uranium.

"Today's decision is an important step in validating USEC's claims--that foreign competitors are dumping enriched uranium into the U.S. market and causing significant damage to the domestic enrichment industry," said USEC President and CEO William H. Timbers. "These unfair trade practices must be stopped for the good of U.S. national and energy security and the nuclear fuel cycle."

Last month, USEC filed petitions with the U.S. Department of Commerce (DOC) and the ITC, charging that its European competitors, Eurodif S.A., through its U.S. sales agent Cogema, and Urenco, Ltd., are selling enriched uranium into the U.S. market below their cost of production and benefiting from unfair government subsidies in their home markets. This activity has materially injured the domestic enrichment industry, USEC said in its filings. The DOC granted USEC's request for an investigation on December 27.

Given today's ITC decision, the DOC will now determine if dumping and unfair subsidization are taking place. According to its schedule, the DOC will make this determination by March on the question of countervailing duties, and by May on the question of dumping. If the DOC reaches an affirmative preliminary determination, importers of European enriched uranium will be required to post a bond to cover potential duties on the merchandise. Final determinations by the two agencies are expected toward the end of 2001.

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