USEC′s Supply Agreement with TENEX Takes Effect

The supply agreement signed in March between JSC 'Techsnabexport?
(TENEX) and United States Enrichment Corporation, a wholly owned
subsidiary of USEC
Inc. (NYSE:USU), took effect today. The
supply agreement is a multi-year contract for the supply of low enriched
uranium (LEU) beginning in 2013 that will build on USEC′s long-term
relationship with TENEX.

'We are excited to continue our fruitful relationship with TENEX, which
has been built on the foundation of the successful Megatons
to Megawatts? program,? said Phil Sewell, USEC senior vice president
of American Centrifuge and Russian HEU. 'This supply agreement will be a
key component to helping us continue to meet our customers′ needs. We
appreciate the work and support of the U.S. government to complete the
administrative arrangements under the U.S. - Russia nuclear cooperation
agreement that now allows this commercial contract to move ahead.?

Under the terms of its agreement with TENEX, the supply of LEU 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 with the mutual option to
increase the quantities up to the same level as that program. The
Megatons to Megawatts program is scheduled to expire at the end of 2013.
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 excess Russian weapons
material.

Deliveries under the agreement are expected to continue through 2022.
USEC will purchase the separative work units (SWU) contained in the LEU
and deliver natural uranium to TENEX for the LEU′s uranium component.
The pricing terms for SWU under the agreement are proprietary but are
based on a mix of market-related price points and other factors.

Effectiveness of the agreement occurred following an exchange of notices
between TENEX and USEC that the administrative arrangements under the
U.S.-Russia nuclear cooperation agreement have been completed. These
administrative arrangements, among other things, provide the framework
for the return to Russia of natural uranium delivered by USEC to TENEX
under the supply agreements.

The supply agreement assures USEC continued access to an important part
of its existing supply mix. USEC continues to work towards the
deployment of the American Centrifuge Plant in Piketon, Ohio. As it
does, the Company is also continuing to review structuring options and
strategic alternatives in evaluating the best path forward to realize
long-term shareholder value. In that context, USEC and TENEX have agreed
to conduct a feasibility study to explore the possible deployment of an
enrichment plant in the United States employing Russian centrifuge
technology. Any decision to proceed with such a project would depend on
the results of the feasibility study and would be subject to further
agreement between the parties and their respective governments.

The Megatons to Megawatts program is a unique, commercially financed
government-industry partnership in which bomb-grade uranium from
dismantled Russian nuclear warheads is being recycled into LEU used to
produce fuel for American nuclear power plants. USEC, as executive agent
for the U.S. government, and TENEX, acting for the Russian government,
implement this 20-year, $8 billion program at no cost to taxpayers. This
program is on track to complete the downblending of the equivalent of
20,000 nuclear warheads into commercial nuclear fuel by the program′s
conclusion at the end of 2013.

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: limitations on our ability to import
the Russian LEU we buy under the new supply contract into the United
States and other countries; uncertainty regarding the results of ?the
feasibility study ?to be conducted regarding the possible deployment of
an enrichment plant in the United States employing Russian centrifuge
technology; risks related to the deployment of the American Centrifuge
technology, including risks related to performance, cost, schedule and
financing; the outcome of ongoing discussions with the U.S. Department
of Energy ('DOE?) regarding ?a potential research, development and
demonstration ('RD&D?) program for the American Centrifuge project,
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 reduce spending and demobilize the
project based on the timing and likelihood of an agreement with DOE and
any government funding; the economics of extended Paducah plant
operations beyond May 2012, including our ability to negotiate an
acceptable power arrangement, our ability to obtain a contract to enrich
DOE′s depleted uranium and sufficient market demand for the remaining
output; the competitive environment for our products and services; 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:

Steve
Wingfield, 301-564-3354