UniStar Nuclear Identifies Constellation Energy's Calvert Cliffs as Site for First Potential New Nuclear Power Plant

Application to Nuclear Regulatory Commission to Serve as Basis for Future

Nuclear Fleet

No Commitment to Build on the Part of Constellation Energy

Apr 30, 2007, 01:00 ET from UniStar Nuclear

    BALTIMORE, April 30 /PRNewswire/ -- UniStar Nuclear, a jointly
 developed enterprise between Constellation Energy (NYSE:   CEG) and AREVA
 Inc., today notified the Nuclear Regulatory Commission (NRC) that a
 location adjacent to Constellation Energy's existing Calvert Cliffs Nuclear
 Power Plant in Lusby, Md., has been selected as the site for UniStar
 Nuclear's first combined construction and operating license (COL)
 application. The application, which will feature UniStar Nuclear's chosen
 technology, the U.S. Evolutionary Power Reactor (EPR), will serve as the
 reference document for all future UniStar Nuclear COL applications to the
     The identification of a specific site is the first step in a multi-step
 process required before a COL application can be submitted to the NRC. It
 does not, however, represent a commitment on the part of Constellation
 Energy to construct a new nuclear plant at the Calvert Cliffs site.
     "Moving ahead with our reference application is an important step in
 realizing the UniStar Nuclear vision of a fully standardized fleet of U.S.
 EPR advanced nuclear power plants," said George Vanderheyden, president of
 UniStar Nuclear. He added that UniStar Nuclear continues its discussions
 with potential investors, partners and customers interested in new nuclear
 across the country.
     Because UniStar Nuclear is partnering with other business entities for
 the development of what is expected to be a standardized fleet of new,
 nuclear power plants across the U.S., each current and future partner will
 benefit from the reference application. On April 5, UniStar Nuclear
 announced an agreement with AmerenUE, a Missouri-based utility subsidiary
 of Ameren Corporation (NYSE:   AEE), for the development of a COL
     UniStar Nuclear plans to submit its reference COL application to the
 NRC no later than March 15, 2008. For an entity to be eligible for
 production tax credits under the U.S. Energy Policy Act of 2005, its
 license application must be accepted by the NRC by December 31, 2008.
     UniStar Nuclear (http://www.unistarnuclear.com) is a jointly developed
 enterprise of Constellation Energy and AREVA Inc. that provides a platform
 upon which to deploy the safest, most secure and most reliable standardized
 fleet of advanced, nuclear power plants in the United States. It brings
 together industry-leading design, licensing, construction and operations
 expertise in a unique business model that is pioneering a new era of
 emissions-free American power generation. UniStar Nuclear is headquartered
 in Baltimore, Md.
     Constellation Energy (http://www.constellation.com), a FORTUNE 200
 company with 2006 revenues of $19.3 billion, is the nation's largest
 competitive supplier of electricity to large commercial and industrial
 customers and the nation's largest wholesale power seller. Constellation
 Energy also manages fuels and energy services on behalf of energy intensive
 industries and utilities. It owns a diversified fleet of 78 generating
 units located throughout the United States, totaling approximately 8,700
 megawatts of generating capacity. The company delivers electricity and
 natural gas through the Baltimore Gas and Electric Company (BGE), its
 regulated utility in Central Maryland.
     As the leading U.S. nuclear supplier and a key player in the
 electricity transmission and distribution sector, AREVA's 5000 American
 employees are committed to serve the nation and pave the way for the future
 of the electricity market. The company's commitment to America is reflected
 in its initial investment of $200 million in the U.S. EPR. With 40
 locations across the nation and $1.7 billion in revenues in 2006, AREVA
 combines homegrown leadership, access to worldwide expertise and a proven
 track record of performance. In the U.S. and in over 100 countries around
 the world, AREVA is engaged in the 21st century's greatest challenges
 making energy available to all, protecting the planet and acting
 responsibly towards future generations. AREVA Inc. is headquartered in
 Bethesda, Md. Visit us at http://www.us.areva.com.

SOURCE UniStar Nuclear