Nuclear

Commerce Department reaffirms decision in enriched uranium trade case

BETHESDA, Md., June 25, 2003 — The U.S. Department of Commerce (DOC) has reaffirmed and elaborated on its position in the government’s trade investigation of European enriched uranium imports.

In response to a March 25 U.S. Court of International Trade (CIT) ruling that returned the case to the DOC for clarification, the agency again concluded that USEC Inc. is the sole domestic producer of low-enriched uranium (LEU) and that all imports of LEU are subject to U.S. antidumping and countervailing duty laws.

Duties against European LEU imports have been in place since February 2002, following a DOC ruling that two European uranium enrichers were receiving unfair government subsidies and, in the case of the French enricher, dumping LEU in the U.S. market. The DOC’s action has helped return fair pricing to the U.S. nuclear fuel market.

USEC believes that the recent DOC determination responds to all of the concerns raised by the CIT in its March 25 opinion and provides a strong rationale for the court to affirm. The court will review the determination and is expected to issue its decision within 90 days.

USEC Inc., a global energy company, is a global supplier of enriched uranium fuel for commercial nuclear power plants.