MDR McDermott International Inc

McDermott International, Inc. (NYSE:MDR) announced today that a subsidiary of The Babcock & Wilcox Company (�B&W�) has been awarded a contract by Bruce Power, valued at approximately $90 million, to engineer, manufacture and install eight replacement steam generators for the Bruce A Nuclear Power Plant, Unit 3. The steam generators will be engineered and manufactured at B&W�s Cambridge, Ontario facility and will be installed in Unit 3 as part of the ongoing, $4 billion Bruce A Restart and Refurbishment project. In 2005, Bruce Power and B&W signed a similar agreement to engineer, manufacture and install 16 replacement steam generators for Bruce A Units 1 and 2. To date, four of those generators have been installed in Unit 2. �This contract re-affirms B&W�s reputation as a key player in North America�s revitalized nuclear industry,� said John A. Fees, Chief Executive Officer of The Babcock & Wilcox Companies. �A contract of this magnitude demonstrates Bruce Power�s level of confidence in B&W. Our experience and stellar reputation for meeting our customers� needs helped to secure this significant contract.� McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott�s customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 20,000 employees, and can be found on the internet at www.mcdermott.com. In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott International, Inc. cautions that statements in this press release which are forward-looking and provide other than historical information involve risks and uncertainties that may impact McDermott�s actual results of operations. The forward-looking statements in this press release include, among other things, the value and work scope associated with the Bruce Power project. Although McDermott�s management believes that the expectations reflected in those forward-looking statements are reasonable, McDermott can give no assurance that those expectations will prove to have been correct. Those statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including without limitation currency exchange rates, potential change orders and other modifications to contracts. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these risk factors, please see McDermott�s annual report on Form 10-K for the year ended December 31, 2006 filed with the Securities and Exchange Commission.