URS Corporation Completes Acquisition of Washington Group International

(San Francisco, November 15, 2007) -- URS Corporation (NYSE: URS) today announced that the Company has completed its acquisition of Washington Group International, Inc. (NYSE: WNG) for a total purchase price of approximately $3.1 billion. The closing of the acquisition follows approvals by URS and Washington Group stockholders at each company's special meeting of stockholders held earlier today.

"This transaction has important benefits for the stockholders and customers of both companies," said Martin M. Koffel, Chairman and Chief Executive Officer of URS. "With the addition of Washington Group's complementary engineering and construction services, URS becomes one of the few fully-integrated engineering, construction and technical services firms capable of serving every phase of a project - from initial planning, engineering and construction of a project, to operations and maintenance. The combined company also has enhanced scale and expertise to meet the increasing demand for comprehensive solutions on large, complex global assignments. We are looking forward to capturing the tremendous potential of the combined company."

Mr. Koffel continued, "We also are delighted to welcome Washington Group's 25,000 employees to URS. We believe the combined company is unrivaled in terms of its professional talent and the opportunities we are able to offer our employees as part of a larger, more dynamic company."

Source : URS Corporation

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