USEC Continues Working on American Centrifuge Project

USEC Inc. (NYSE: USU) announced today that it continues to work on the
American Centrifuge project and that USEC and the Department of Energy
(DOE) have identified a path to provide interim funding for the initial
phase of a research, development and demonstration (RD&D) program for
the project.

This path would provide the basis for funding of the RD&D program
activities through the end of March. In the meantime, USEC will continue
to work with DOE and Congress to secure funding to complete the RD&D
program.

The $300 million RD&D program proposed by DOE will enhance the technical
and financial readiness of the centrifuge technology for
commercialization. The RD&D program is expected to involve manufacturing
and operating additional production-design machines so that key systems
can be tested as they would actually operate at the scale necessary for
full commercialization.

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

Forward-Looking Statements

This news release contains 'forward-looking statements? ? that is,
statements related to future events. In this context, forward-looking
statements may address our expected future business and financial
performance, and often contain words such as 'expects?, 'anticipates?,
'intends?, 'plans?, 'believes?, 'will? and other words of similar
meaning. Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. For USEC, particular risks and
uncertainties that could cause our actual future results to differ
materially from those expressed in our forward-looking statements
include, but are not limited to: the outcome of ongoing discussions with
DOE regarding the RD&D program and any interim funding, including
uncertainty regarding the timing, amount and availability of funding for
such RD&D program and the dependency of government funding on
Congressional appropriations and the potential for us to make a decision
at any time to further demobilize the project based on the timing and
likelihood of an agreement with DOE and any government funding; the
impact of any conditions that are placed on us or on the American
Centrifuge project in connection with or as a condition to the RD&D
program or other funding, including a restructuring of our role and
investment in the project; limitations on our ability to provide any
required cost sharing under the RD&D program; the ultimate success of
efforts to obtain a DOE loan guarantee for the American Centrifuge
project, including the ability through the RD&D program or otherwise to
address the concerns raised by DOE with respect to the financial and
project execution depth of the project, and the timing and terms
thereof; the impact of actions we have taken or may take to reduce
spending on the American Centrifuge project, including the potential
loss of key suppliers and employees, and potential impacts to cost and
schedule; the impact of delays in the American Centrifuge project and
uncertainty regarding our ability to remobilize the project; the outcome
of any discussions with DOE regarding modifications needed to the
remaining milestones under the June 2002 DOE-USEC Agreement and the
potential for DOE to seek to exercise its remedies under such agreement;
risks related to the completion of the remaining two phases of the
three-phased strategic investment by Toshiba Corporation ('Toshiba?) and
Babcock & Wilcox Investment Company ('B&W?), including uncertainty
regarding the potential participation of Toshiba and B&W in any
potential project structure that may be required under the RD&D program,
the failure to finalize any extension of the standstill agreement that
expired on October 31, 2011 if an agreement is not reached between USEC
and DOE on a framework for the RD&D program and the potential for
immediate termination of the securities purchase agreement governing
their investments; our ability to extend, renew or replace our credit
facility that matures on May 31, 2012; our ability to actively manage
and enhance our liquidity and working capital and the potential adverse
consequences of any actions taken on the long term value of our ongoing
operations; changes in U.S. government priorities and the availability
of government funding, including loan guarantees; uncertainty regarding
the continued capitalization of certain assets related to the American
Centrifuge Plant and the impact of a potential impairment of these
assets on our results of operations and our deferred tax assets,
including the potential for a valuation allowance; and other risks and
uncertainties discussed in our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K and quarterly
reports on Form 10-Q, which are available on our website at www.usec.com.
We do not undertake to update our forward-looking statements except as
required by law.

USEC Inc.

Media:

Paul Jacobson, 301-564-3399

or

Investors:

Steven
Wingfield, 301-564-3354