Megatons to Megawatts Program Recycles 450 Metric Tons of Weapons-Grade Uranium into Commercial Nuclear Fuel

USEC Inc. (NYSE: USU) announced today that the Megatons to Megawatts?
program has converted 450 metric tons of weapons-grade uranium from
dismantled former Soviet Union nuclear warheads into low enriched
uranium fuel to generate clean, reliable electricity in commercial
nuclear power plants. The program is now 90 percent complete.

'For nearly two decades, the Megatons to Megawatts program has provided
a reliable source of fuel for commercial nuclear power plants while
reducing the quantities of weapons-grade uranium remaining in the
world,? said John K. Welch, USEC president and CEO. 'As we near the end
of this historic nonproliferation program, USEC is preparing to
transition to our new contract with TENEX, which will continue to
provide a reliable supply of LEU for the company while we work to deploy
the American Centrifuge technology.?

Megatons to Megawatts is a 20-year, commercially financed
government-industry partnership in which 500 metric tons of Russian
weapons-grade uranium is being downblended to low enriched uranium for
use as commercial reactor fuel. USEC, as executive agent for the U.S.
government, and JSC 'Techsnabexport? (TENEX), acting for the Russian
government, implement the program.

The Megatons to Megawatts program is on track to downblend the
equivalent of 20,000 nuclear warheads into nuclear fuel by the end of
2013. The fuel generated to date has the energy equivalent of more than
193 billion gallons of gasoline, which equals more than 17 months of
U.S. consumption. In past years, up to 10 percent of the electricity
generated in the United States came from nuclear power plants using this
fuel.

Contract Amendment

In early June, representatives from USEC and TENEX signed the 20th
amendment to the contract implemented by the program. The companies
intend the amendment to ensure completion of all shipments under the
Megatons to Megawatts program by the end of 2013, and to make clear how
deliveries that were not made in 1999 will be made up in 2013. It has
been submitted to their respective governments for review.

Transitional Supply Contract

In 2011, USEC and TENEX entered into a multi-year contract for the
supply of low enriched uranium beginning in 2013 that will build on
USEC′s long-term relationship with TENEX. Under the terms of the
agreement, the supply of low enriched uranium to USEC will begin in 2013
and ramp up until it reaches a level in 2015 that is approximately
one-half the level currently supplied by TENEX to USEC under the
Megatons to Megawatts program. The new contract includes a mutual option
to increase the quantities up to 5.5 million SWU (separative work
units), the same level as the Megatons to Megawatts program.

Unlike the Megatons to Megawatts program, the quantities supplied under
the new contract will come from Russia′s commercial enrichment
activities rather than from downblending of Russian weapons material.
Deliveries under the agreement are expected to continue through 2022.
USEC will purchase the SWU contained in the low enriched uranium and
deliver natural uranium to TENEX for the uranium component of the low
enriched uranium.

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

Forward-Looking Statements:

This news release contains 'forward-looking statements? within the
meaning of Section 21E of the Securities Exchange Act of 1934 ? 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: risks related to the ongoing transition
of our business, including uncertainty regarding the transition of the
Paducah gaseous diffusion plant and uncertainty regarding continued
funding for the American Centrifuge project and the impact of decisions
we may make in the near term on our business and prospects; our
dependence on deliveries of LEU from Russia under the commercial
agreement with TENEX to implement the Megatons to Megawatts program and
on a single production facility and the potential for us to cease
commercial enrichment of uranium in the event of a decision to shut down
Paducah enrichment operations; limitations on our ability to import the
Russian LEU we buy under the transitional supply contract into the
United States and other countries; the impact of the March 2011
earthquake and tsunami in Japan on the nuclear industry and on our
business, results of operations and prospects; the impact of excess
supply in the market and the lack of uncommitted demand for low enriched
uranium over the next two to four years; pricing trends and demand in
the uranium and enrichment markets and their impact on our
profitability; the competitive environment for our products and
services; changes in the nuclear energy industry; 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 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