USEC Applauds $150 Million Funding Request for American Centrifuge in President′s FY 2013 Budget

USEC Inc. (NYSE: USU) President and CEO John Welch today praised the
inclusion of $150 million in President Obama′s fiscal year 2013 budget
proposal for a cooperative research, development and demonstration
(RD&D) program to support the American
Centrifuge Project, the next-generation U.S. uranium enrichment
technology.

'Inclusion in the President′s budget affirms that the American
Centrifuge is a national priority, and we welcome this strong signal of
support,? Welch said. 'The Department of Energy (DOE) first proposed the
RD&D effort last year to demonstrate the technical and financial
readiness of moving the American Centrifuge toward commercial
deployment. Since then we have been working with Congress and DOE to put
the necessary funding in place. But it′s important to remember that
interim funding for this program is only available through March 2012
and we must still get RD&D funding for the remainder of government
fiscal year 2012 to ensure that we can continue this vital activity.?

The RD&D program will support building, installing and operating a
120-machine cascade and related support systems that will be replicated
in 96 identical cascades in a full commercial plant in Piketon, Ohio.
The program will support 2,000 jobs across the country, especially in
Ohio, Pennsylvania, West Virginia, Alabama, Tennessee, Michigan and
Indiana. It will also preserve the U.S. government′s ability to produce
enriched uranium to support U.S. national security needs.

'We will continue to work with Congress and the Department of Energy to
find funding for the RD&D program for the remainder of FY 2012,? Welch
added.

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? (within the
meaning of the Private Securities Litigation Reform Act of 1995) that
involve risks and uncertainty. 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 that the RD&D funding requested
in the President′s FY 2013 budget may not be approved by Congress in its
proposed form or at all; the outcome of ongoing discussions with the
U.S. Department of Energy ('DOE?) regarding the RD&D program, 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 impact of any conditions that are placed on us or on the
American Centrifuge project in connection with or as a condition to the
RD&D program or other funding, including a restructuring of our role and
investment in the project; limitations on our ability to provide any
required cost sharing under the RD&D program; the ultimate success of
efforts to obtain a DOE loan guarantee and other funding needed for the
American Centrifuge project, including the ability through the RD&D
program or otherwise to address the concerns raised by DOE with respect
to the financial and project execution depth of the project, and the
timing and terms thereof; the impact of actions we have taken or may
take to reduce spending on the American Centrifuge project, including
the potential loss of key suppliers and employees, and impacts to cost
and schedule; the impact of delays in the American Centrifuge project
and uncertainty regarding our ability to remobilize the project; changes
in U.S. government priorities and the availability of government
funding, including loan guarantees; 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 to reflect
events or circumstances that may arise after the date of this annual
report on Form 10-Kexcept as required by law.

USEC Inc.

Media:

Paul Jacobson, 301-564-3399

or

Investors:

Steven
Wingfield, 301-564-3354