Fluor to Assist Progress Energy with Environmental Retrofits

May 12, 2004

Fluor Corporation (NYSE: FLR) announced today that it has been selected by Progress Energy to provide installation services for its North Carolina Clean Smokestacks program. In addition, Fluor will provide some procurement services in support of the program. The contract value to Fluor was not disclosed.

"We're excited to continue to support Progress Energy on this most important program," said Kirk Grimes, Fluor's group president of Global Services. "We are pleased to help our client meet its important goal of reducing sulfur dioxide and nitrogen oxide emissions at several of its coal- fired units."

Under terms of the contract, Fluor will install flue gas desulfurization systems, chimneys, material handling systems and other related equipment at some of Progress Energy's North Carolina coal-fired plants.

Work on the project began last year, and the project is expected to be complete in 2013. At peak construction, Fluor expects to employ about 800 craft workers.

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 nearly $9 billion in 2003. For more information, visit www.fluor.com.

For further information, please contact: Media, Jerry Holloway, +1-949-349-7411, or Lisa Boyette, +1-949-349-3652; or Investors, Lila Churney, +1-949-349-3909, or fax, +1-949-349-5375, all of Fluor Corporation.

media, Jerry Holloway, +1-949-349-7411, or Lisa Boyette,+1-949-349-3652; or investors, Lila Churney, +1-949-349-3909, or fax,+1-949-349-5375, all of Fluor Corporation//Web site: http://www.fluor.com /