Fluor to Build New Raytheon Headquarters

November 19, 2002

Fluor Corporation (NYSE: FLR) today announced that a Fluor/Leggat McCall Properties team has been selected by Raytheon Company to design and build Raytheon's new global headquarters in Waltham, Mass.

Situated in the Waltham Woods Corporate Center, the 150,000-square-foot facility will accommodate the majority of Raytheon's corporate staff. Under-building parking, and site and infrastructure improvements for the 14-acre site will also be provided.

Construction will begin in November 2002 with completion scheduled by the fourth quarter of 2003. Fluor will execute the project out of its Rumford, R.I., office.

"We are delighted to have teamed with Leggat McCall and to have been selected by Raytheon for this important project. Leggat McCall is recognized as a leading owner and developer of office properties in the Northeast, and it serves a select group of corporate and institutional clients," said Dwayne Wilson, a president within Fluor's Industrial & Infrastructure group.

Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Aliso Viejo, Calif., Fluor is a Fortune 500 company with revenues of $9 billion in fiscal year 2001. For more information, visit www.fluor.com.

For further information, please contact media relations, Jerry Holloway, +1-949-349-7411, or Lori Serrato, +1-949-349-7420, or investor relations, Lila Churney, +1-949-349-3909, fax, +1-949-349-5375, all of Fluor Corporation.

media relations, Jerry Holloway, +1-949-349-7411, or Lori Serrato, +1-949-349-7420, or investor relations, Lila Churney, +1-949-349-3909, fax, +1-949-349-5375, all of Fluor Corporation/