Canada’s leading private sector companies in the nuclear and power plant field, Babcock & Wilcox Canada, GE Canada, Hitachi Canada and SNC-Lavalin Nuclear have joined together with Atomic Energy of Canada (AECL) to create Team CANDU. The Team has already developed a positive long-standing risk sharing relationship through the success of several new build projects along with the solid support of industry leaders.

Team CANDU will deliver a business model for Ontario that they have successfully deployed in other markets around the world over the past decade. Each of the partners takes on its share of project risk to deliver new CANDU power plants on a turnkey, fixed price basis. In this case, the traditional project risk is transferred from the owner/utility to the project team members. Based on its record of project delivery, the Team ensures delivery on time, on budget.

This creates a “power-house” of expertise and experience, to build new nuclear plants as identified by the OPA’s report and recommendations to meet Ontario’s growing electricity needs. AECL has, over the past 10 years, delivered six reactor projects on time and on budget – most recently two CANDU 6 reactors in China were delivered ahead of schedule and under budget.

AECL has built more reactors in the last ten years than any other nuclear technology company and is currently building a second CANDU 6 unit in Romania. In addition, it has recently signed major contracts to refurbish reactors at Bruce Power in Ontario and Point Lepreau in New Brunswick and is currently negotiating life extension contracts with other CANDU owners around the world.

CANDU technology is clean, safe, economical and reliable, made-in-Canada and the best choice for Ontario in terms of safety, proven performance and project delivery. CANDU 6 is one of the top performing nuclear products in the world today and when combined with the ACR-1000 they are the most beneficial and most competitive options for new base load power in Ontario.

CANDU will create the most benefit to Ontario in terms of jobs for Ontario workers, contracts for Ontario companies and lower electricity prices. Deploying new CANDU in Ontario will also create a strong base for export opportunities and additional jobs in Ontario. The Canadian nuclear industry is a $5 billion per year industry, providing employment for more than 30,000 people in more than 150 companies.

Notes to Editors:

About AECL

Atomic Energy of Canada Limited is a full service nuclear technology company providing services to nuclear utilities around the world. Established in 1952, AECL is the designer and builder of CANDU technology including the CANDU 6, one of the world’s top-performing reactors.

AECL’s 4,000 employees deliver cutting edge nuclear services, R&D support, design, and engineering, construction management, specialized technology, refurbishment, waste management and decommissioning in support of CANDU reactor products. We work in partnership with our clients to provide clean, safe, reliable and affordable energy solutions. More information on AECL and CANDU technology can be found at www.aecl.ca.

About Babcock & Wilcox Canada

Babcock & Wilcox Canada serves North American electric utility and industrial markets and the global nuclear utility market. Based in Cambridge, Ontario, it is a wholly-owned subsidiary of The Babcock & Wilcox Company in Barberton, Ohio, which is an operating unit of McDermott International, Inc. (NYSE:MDR). The Babcock & Wilcox Company is located on the Internet at http://www.babcock.com/.

About General Electric Canada

GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. In Canada, GE has more than 10,000 employees, 19 major manufacturing plants and more than 150 sales and service locations across the country. For more information, visit the company's Web site at http://www.ge.com/en/

About Hitachi Canada Ltd.

Hitachi Canada, Ltd. markets and manufactures a broad range of electronics, computer systems and products, consumer electronics and semiconductors, and provides industrial equipment and services throughout Canada. Hitachi Canada is a subsidiary of Hitachi America, Ltd. (55%) and Hitachi, Ltd., Japan (45%). It was established in 1971. For more information, please visit our website at http://www.hitachi.ca/

About SNC-Lavalin Nuclear Inc.

SNC-Lavalin Nuclear Inc. is a wholly owned subsidiary of SNC-Lavalin (TSX: SNC), one of the leading groups of engineering and construction companies in the world, a global leader in the ownership of infrastructure, and in operations and maintenance services. The SNC-Lavalin companies have offices across Canada and in 30 other countries around the world and are currently working in some 100 countries. http://www.snclavalin.com/