Ms. Elizabeth Swid, United States Enrichment Corporation, 6903 Rockledge Drive, Fourth Floor, Bethesda, Maryland 20817

R -- UNITED STATES ENRICHMENT CORPORATION REQUESTS INVESTMENT BANKING PROPOSALS FOR PRIVATIZATION The United States Enrichment Corporation (USEC), a wholly owned government corporation and the world's largest producer of uranium enrichment services, today announced that it intends to issue a Request for Proposals (RFP) to investment banking firms for providing underwriting and advisory services in connection with the privatization of USEC. The Energy Policy Act of 1992 established USEC to take over the U.S. Government's commercial uranium enrichment operations and prepare them for privatization. On June 30, 1995, USEC submitted its Privatization Plan to President Clinton. The Plan recommended a dual path approach whereby USEC will simultaneously prepare for an initial public offering (IPO) of its common stock and a negotiated sale to a third party (M&A). The Plan anticipates that privatization would be completed in early 1996. J.P. Morgan Securities, Inc., USEC's financial advisor, has advised that, based on its valuation of the Corporation, the gross proceeds from the sale of USEC through an initial public offering could be approximately $1.5 to $1.8 billion. USEC is seeking to retain one investment banking firm to serve as Transaction Manager with responsibility for serving as its M&A advisor, as well as the lead manager in an IPO and assisting in preparation of both. USEC is also seeking to retain a number of other investment banking firms to serve as co-managers in an IPO. It should be noted that USEC is soliciting proposals only from those firms wishing to serve as the Transaction Manager or a co-manager. Underwriters wishing only to participate in the syndicate are requested not to submit a proposal at this time. USEC will make the RFP available beginning on July 24, 1995. Written proposals will be due no later than 5 p.m. August 7, 1995, with selection to be completed by early September. To receive a copy of the RFP, investment banking firms should send the following information to USEC. Name of Firm. Address of Firm (for overnight delivery). Name of Direct Point of Contact. Phone Number for Point of Contact. Fax Number for Point of Contact. Requests for a copy of the RFP should be sent to Ms. Elizabeth Swid, United States Enrichment Corporation, 6903 Rockledge Drive, Fourth Floor, Bethesda, Maryland 20817. Facsimile requests will be accepted. The USEC fax number is (301)564-3204. USEC, formed in July 1993 out of the uranium enrichment enterprise formerly managed by the Department of Energy, supplies nearly 90 percent of the domestic and 40 percent of the world enrichment market. Currently, nuclear power supplies nearly 17 percent of the world and 22 percent of U.S. electricity requirements. In fiscal 1994, the Corporation had revenues of approximately $1.4 billion and net income of $377 million (pretax). The Corporation manages two gaseous diffusion plants in Paducah, Kentucky and Portsmouth, Ohio. USEC is headquartered in Bethesda, Maryland. (194)

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