. . . Providing safe, clean, reliable energy

Westinghouse Electric Company offers awide range of nuclear plant products andservices to utilities throughout the world,including fuel, service and maintenance,instrumentation and control and advancednuclear plant designs.

Fifty years ago, Westinghousehelped build the firstnuclear power plant in the United States.Today, there are morethan 440 operatingcommercial nuclearplants worldwide with anet generating capacityof more than 368gigawatts, and several newnuclear plants are underconstruction. Westinghousetechnology is the basis forapproximately half of these reactors, givingWestinghouse the world's largest installed

base of operating plants.

Across the globe, electricitydemand is expected to

double by the year 2030. The growing

need for electricityand the desire

to produceelectricitywithoutharming

the environment has sparked a robust desirearound the world to use nuclear energy.As a result, Westinghouse is hiring, buildingand investing.

Among the drivers behind thisexpansion is the Westinghouse

AP1000TM nuclear powerplant. The AP1000TM is

the first Generation III+pressurized waterreactor (PWR) plant to receive designcertification by the U.S.Nuclear Regulatory

Commission (NRC). Ithas also been certified as

having successfully passedall the steps for compliance

with the European UtilityRequirements organization,

confirming that the AP1000TM can besuccessfully deployed in Europe.

Currently, Westinghouse is building fourAP1000TM units in China with the first tocome online in 2013. Westinghouse also hasseveral contracts to build these units in theUnited States and is pursuing new plantopportunities in markets across the globe.

With headquarters near Pittsburgh,Pennsylvania, United States, Westinghousehas operations in 17 countries with over15,000 employees.

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NO COMPANY IS MORE FOCUSEDON NUCLEAR TECHNOLOGY

In the fall of 2006,Westinghouse joined

with Toshiba Corporation tofurther strengthen our position

as the world’s leader in commercialnuclear power. Toshiba's experience in

boiling water reactor (BWR) technology -combined with leadership in power generation,electronics, digital product and scientificresearch - enables Westinghouse to strengthenand expand its range of products and services.

All of this places Westinghouse at the forefrontof the nuclear industry. But most importantly,Westinghouse continues to apply its expertiseto ensure that nuclear technology will helpprovide future generations with safe, clean andreliable electricity. This is accomplishedthrough three core businesses: Nuclear Fuel,Nuclear Services and Nuclear Power Plants.

FFooccuussiinngg oonn OOppeerraattiioonnaall EExxcceelllleenncceeThrough the core businesses of Nuclear Fuel, Nuclear Services

and Nuclear Power Plants, Westinghouse aims to serve theneeds of utility, government and industrial customers in

nuclear power-related industries. Through alliances withcustomers, Westinghouse plays a key role in the designand implementation of integrated solutions.

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A JOURNEY AND A PROMISETO CUSTOMERS

A JOURNEY AND A PROMISETO CUSTOMERS

In 2003, Westinghouse embarked on a journey thatwould unify the company behind a common goalof sharing a passion for our customers' success.This journey - called Customer 1st - is an ongoingcommitment to continuously improve the qualityof execution in delivering products and services tocustomers, as well as to improve the way customersfeel about working with Westinghouse.

Customer 1st is the Westinghouse response todramatic changes taking place in the global nuclear industry. Today, more than ever,Westinghouse customers must maintainunprecedented performance levels underincreasing competitive pressures. As a result,they have been forced to significantly raiseexpectations of themselves and their suppliers.Customer 1st helps enable Westinghouse to meetincreasing customer needs.

Customer 1st is about doing what's right in terms of technology, fulfilling customerexpectations and making it easy for customers towork with Westinghouse. It involves fundamentalchanges that focus on improving the way theWestinghouse organization thinks, works andbehaves with customers.

Based upon four key elements - Six Sigma, HumanPerformance, Lean Enterprise and BehavioralDifferentiation - Customer 1st provides proventools, techniques and behavioral differentiators to help achieve Westinghouse strategic goals ofCustomer Intimacy, Operational Excellence andTechnology Leadership.

While these four elements can be used individuallyor in some combination, Westinghouse ispioneering the integrated use of all four elements,thereby recognizing that the whole is greater than the sum of its parts.

Westinghouse has made and continues to make a significant investment in personnel dedicatedfull-time to Customer 1st - providing training forleaders and the teams who support them. Movingforward, our focus will be to engage all employeesin Customer 1st improvement tools and techniques.Involvement of the customer through customeradvisory boards, joint projects, alliance and jointprograms is integral to this commitment.

Customer 1st is about changing the culture ofWestinghouse - to embed a philosophy andmindset of Continuous Improvement with a goalof creating success for our customers. ThroughCustomer 1st, Westinghouse is maintaining apromise to listen to customers, to alignWestinghouse goals and actions to meet customer needs, and to help fulfill the largerpromise of providing clean energy to future generations.

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Westinghouse offers a full complement ofnuclear services to keep pressurized waterreactor (PWR) and boiling water reactor(BWR) nuclear plants operating safely andcompetitively. A fully integrated servicesupplier, Westinghouse has the people,technology and processes necessary tosupport our customers’ need for reliableplant operation, maximized power outputand improved outage performance.

Field OperationsWestinghouse offers global outagetraining, support, new equipment,equipment replacement and upgradesthrough six main areas of focus: reactorservices (both PWR and BWR), steamgenerator services, rotating equipmentservices, nondestructive examination,welding and machining, and cranes andfuel-handling equipment. We provideworld-class, cutting-edge technologicalsolutions through robotics and remotelyoperated tooling.

Engineering OperationsWestinghouse provides engineering

solutions for nuclear powerplants that reduce operating

and maintenance costs while improving

plant performance.Upgrades are offered to increase plantavailability, as are

products that improve capacity, addressaging plant issues and increase regulatorymargins. From specialty consulting to majorturnkey capital engineering projects, topartnering and alliances, customer needs areaddressed in the course of optimizing plantperformance. Westinghouse also offersdecommissioning and dismantling servicesfor all types of nuclear facilities fromuranium mill plants to nuclear power plantsand treatment systems for radioactive waste.

Instrumentation and Control (I&C) Operations Westinghouse enhances the reliability ofnuclear plant control and safety systemsthrough an integrated, plant-wide approach.We offer full-scope maintenance,enhancements and upgrade strategiesspecific to each plant's long-term needs,thereby minimizing total plant lifecyclecosts and disruptions. Our assetmanagement approach balances analogsystem maintenance and enhancementswith phased digital system upgrades.Westinghouse is committed to providing customers support throughoutthe life cycle of the control and safetysystems of their plants.

Long-term SupportWestinghouse has extensive nuclear steamsupply system (NSSS) plant and balance-of-plant system knowledge and supplies bothPWR and BWR replacement parts,

NUCLEAR SERVICES

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components and services to meet customerlong-term needs.

Subsidiaries and Joint VenturesIn addition to our core nuclear servicebusinesses, a variety of Westinghousecompanies offer specialized services to meetcustomer-specific needs around the world.

• With employees located near Paris, Lyon and Marseille, France, Astare provides studies and consulting services to support nuclear and environmental safety, plant operations and maintenance, as well as on-site modification supervision.

• CS Innovations, based in Scottsdale,Arizona, is a leading supplier to the digital I&C safety system upgrade market. CS Innovations offers the only non-software-based solution that meets current requirements for digital safety systems, and its solution is approved by the U.S. Nuclear Regulatory Commission (NRC).

• Fauske & Associates, located in Burr Ridge,Illinois, provides testing and consulting services, and has analysis and experimental capabilities to support nuclear reactor and environmental safety.

• With headquarters in Pretoria, WestinghouseElectric South Africa provides diversified engineering solutions and technology for nuclear power plant subsystems, including those for high-temperature gas reactors (HTGRs) and light water reactors (LWRs).

• PaR Nuclear, located in St. Paul,Minnesota, is the world's leading supplier of fuel handling systems andoutage-critical cranes. PaR Nuclear designs,manufactures and services machines for both PWR and BWR reactors. NuCrane Manufacturing, a Minnesota- based joint

venture between PaR Nuclear and Hutchinson Manufacturing, wasformed to fabricate,assemble and test specialty cranes for the AP1000™ and other nuclear power plants.

• With headquarters in Lake Bluff, Illinois,WEC Welding and Machining provides welding and machining services to the nuclear, fossil and hydropower generation,waste-to-energy, petro-chemical, gas and general fabrication industries. This subsidiary holds WEC Carolina Energy Services, WEC Welding Institute, WEC Equipment and Machining Solutions and PCI Energy Services.

• WesDyne International (WesDyne) is a global supplier of state-of-the-art nondestructive examination services.WesDyne provides component and piping inspection services to nuclear facilities worldwide, as well as automated turbine generator inspection services for nuclear andfossil power generators. WesDyne's three main offices are located in Madison,Pennsylvania; Windsor, Connecticut; and Täby, Sweden.

• Westron, a joint venture between Westinghouse and Hartron, based in Ukraine, specializes in total performance capabilities of technological process I&C systems, including I&C design solutions, manufacture, tests, deliveries,implementation and maintenance for nuclear and fossil power plants.

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Westinghouse Nuclear Fuel's vision is to be best-in-class in the global nuclear fuel industry.

With more than 5,000 employees in theU.S., Europe and Asia, Nuclear Fuel

designs and manufactures the broadest worldwide spectrum

of fuel products for pressurizedwater reactors (PWRs),boiling water reactors (BWRs),advanced gas-cooled reactors(AGRs) and VVERs (Russiandesignation for PWRreactors). We also haveexpanded our services

to include select front-end fuel cycle services.

Westinghouse, throughimplementation of its operational

excellence strategy, is the industry leader in fuel performance and fuel technologydevelopment. Our fuel leads the industry in reliability, assurance of delivery andtechnical innovations enabling higher corepower ratings and low fuel cycle costs. Ourproducts and services include:

• Flexible supply and lease of enriched uranium

• Enriched uranium procurement• Uranium transport and logistics• Fuel technology research and

development

• Product design and engineering• Regulatory licensing• Fuel management and safety evaluation• Core operations methodology

and models• Fuel assembly manufacturing • Fuel transport• Fabrication of nuclear grade zirconium

material and components• Design and production of control rods

and core components• In-reactor operations support and

fuel examinations

The most critical factor in achievingoperational excellence is Nuclear Fuel'scommitment to safety. Each day, all of ouremployees focus on ways to improve howsafely we work. We have an unwaveringcommitment to the safety of our people.

Westinghouse Nuclear Fuel is fullycommitted to supporting the industry'schallenge to achieve 100% leaker-freeoperation in all the plants we fuel. Acontinuous improvement process focusedon Fuel Reliability is a central part of ouroperation and focus. Operations feedback,through poolside exams, is systematicallyassessed and areas for improvement inDesign and Materials, ManufacturingProcesses and Core Management andOperations-related software and methodsare identified and acted upon. Provenindustry-best practices for continuous

NUCLEAR FUEL

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improvement and human performanceprinciples to achieve flawless delivery in our hardware and software are rooted in our culture.

The Westinghouse approach to Fuel Reliabilityis based on monitoring, protection andimprovement of Critical Fuel ReliabilityAttributes (CFRAs), which are those fuelparameters that, if not properly controlled,are known to contribute to the risk of leaking fuel. This definition equally encompassesmanufacturing, design and plant operatingconditions that form the boundary conditionsfor the fuel.

This cycle of improvement is further refinedthrough ongoing, open dialogue withcustomers and industry associations, as well as formal programs for technology interchangebetween various engineering andmanufacturing operations. This includeschannels for sharing experience and insightswith Westinghouse Nuclear Fuel licensees, aswell as access to fuel performance data andanalyses compiled by Westinghouse serviceorganizations. In addition, monthly self-assessments are completed by our CustomerProject Managers based on our performancefor that month in project management,engineering, product performance, ease ofdoing business and nuclear safety. Theseassessments are reported as a part of our Key Performance Indicators to the Nuclear Fuel leadership team for review, discussion and resolution.

Processes like Integrated Manufacturing (thathas currently resulted in our industry's shortestcycle time in the front end of the fuel cycle),and continuous improvement initiatives aroundvisibility and repeatability of performance andreinforcement of desired behaviors, combine toimprove fuel quality and performance.

Westinghouseproductdevelopment issupported by afull spectrum oftesting facilitiesfor verifyingmechanical,hydraulic and heattransfer characteristicsof new products.Coupled with state-of-the-art computationalmethods, our approach toproduct development assures thehighest level of design optimizationand reliable performance in reactors, to respond to ever more demanding customerneeds for maximizing the value of their powerplants. Westinghouse Nuclear Fuel also licensesindustry-best analytical software, designmethodology and manufacturing technology to customers and manufacturing licenseesaround the world.

Westinghouse Nuclear Fuel continues toprovide complete solutions to support safe and cost-effective operations of both currentand future nuclear reactors. We will accomplishour objectives in operational excellence andglobal growth through reliable fuel, innovativetechnology and strategic partnerships as wesupport the nuclear renaissance.

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With a global network of partners andsuppliers, Westinghouse Nuclear PowerPlants provides the full range of productsand services to design, license, build and

commission nuclear power plants on afull-scope turnkey basis. Nuclear

Power Plants offers two majorproduct lines: new plants andnuclear componentmanufacturing for existing plants.

New PlantsThe New Plants product line

offers a wide scope of nuclearpower plant designs and leads

the industry in applying passive safety features to proven pressurized

water reactor (PWR) technology.The Westinghouse Nuclear Power Plantdesign portfolio includes specific customer-

driven, U.S. Nuclear RegulatoryCommission (NRC)

design-certified reactors, including

the following:

• The AP1000TM nuclear power plant is an advanced and innovative PWR that incorporates passive safety features and is the only Generation III+ reactor that has received U.S. NRC Design Certification.It is the most advanced plant of its kind currently available in the global marketplace. Four AP1000TM units are under construction in China with the first scheduled to come online as planned in 2013. In the United States, the AP1000TM

has been selected as the technology ofchoice for more than half of the new plants announced.

• The System 80® and System 80+® Nuclear Steam Supply Systems (NSSSs) form the basis for the proven and highly successful Korean standard nuclear power plant (OPR1000) and the advanced power reactor (APR1400), both of which are currently being deployed in the Republic of South Korea.

Nuclear Component Manufacturing With more than 40 years of experience in manufacturing specialized components for the nuclear power industry, NuclearComponent Manufacturing producesprecision stainless steel components, such as reactor vessel internals, reactor coolantpumps and control element drivemechanisms. Nuclear ComponentManufacturing supports the New Plant

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NUCLEAR POWER PLANTS

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product line and provides components foroperating nuclear plants.

Having design and analysis capabilities that are based on extensive knowledge of the U.S. NRC licensing criteria, American Society of Mechanical Engineers (ASME) Coderequirements and nuclear quality standards,Nuclear Component Manufacturing holds all five ASME Section III Certificates ofAuthorization.

SSttrriivviinngg ttoo bbee SSaaffee aanndd EEnnvviirroonnmmeennttaallllyy RReessppoonnssiibblleeWestinghouse is committed toproviding unparalleled productsand services that are in alignmentwith customer values and goalswhile continuing to propel nuclearenergy as a clean, safe andeconomical solution to supplyingthe world’s electricity needs.

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Westinghouse Research and Technology Unit(RTU) is dedicated to delivering a durable,sustainable competitive advantage toWestinghouse and its customers throughtechnology leadership. Long recognized for producing an abundance of nucleartechnology "firsts," Westinghouse Researchand Technology leads the strategy,investment and development ofbreakthrough technology throughout the company.

RTU develops technologies to help meetboth near and long-term world energy needs with the goals of:

• Increasing safety, reliability, efficiency,and life extension of operating plants

• Solving the nuclear industry's current and emerging technical challenges

• Developing advanced new plants and revolutionary fuel cycle approaches

• Strengthening nuclear as the environmental energy choice

• Extending nuclear beyond electric utility grid

With resources, laboratories andfacilities in the United States,

Asia and Europe,Westinghouse RTU pursues

these strategic goalsthrough an InnovationModel that includesstrategic programs, arevolutionary

development hub and operations support.Through its Nuclear Energy InnovationLeadership hub, Westinghouse RTUinvestigates new business creationopportunities. This approach considersmarket factors and resource andorganization needs to develop andultimately commercialize new concepts.RTU also develops new opportunities byworking through an open innovationnetwork, that provides links to globaltechnical institutes such as nationallaboratories and major universities.

Focused on the Existing Fleet of Plants The RTU organization is focused ontechnology leadership that provides value to our customers, and its first priority is to provide solutions that help to keep theexisting fleet of plants operating safely and efficiently.

Westinghouse RTU provides a broadspectrum of technical expertise and facilitiescapabilities in the areas of:

• Materials testing, examination and analysis• Advanced computing in reactor core

analysis and thermal fluid analysis• Robotics and wireless detection systems • Real-time core monitoring control

and protection• Chemical processing at fuel facilities• Decision analysis and knowledge

management• Advanced reactor designs

WESTINGHOUSERESEARCH AND TECHNOLOGY

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By leveraging these assets, Westinghouse helpsto improve the competitiveness of ourcustomers with solutions such as:

• Reduced inspection and outage times • Uprate opportunities and plant life extension• Optimized core management developments• Advanced fuel designs • Predictive maintenance and repair tools

Material Center of ExcellenceThe RTU is dedicated to developing improvedmaterials used in fuel designs, operatingnuclear power plants and new nuclear plantdesigns. The center has some of the leadingmaterial experts in the industry and housessome of the most unique testing facilities in the world that are capable of examining andtesting new and highly irradiated materialsunder both room and extreme operatingconditions.

Next Generation Nuclear Plants As the leading provider of today's GenerationIII+ plant technology, Westinghouse isworking on the next generation of nuclearpower plants that will have the flexibility tomeet diverse applications and needs, fromsuitability for smaller grids to a variety ofprocess heat applications. With sizes in therange of 10MW to more than 300 MW, thenext generation of nuclear plants will besimpler, faster and less expensive to construct,

require less frequent refueling, featureenhanced safety systems and provideease of operation while reducing therisk of proliferation. Westinghouse isexploring advanced technologies such ashigh-temperature gas reactors (HTGRs),small modular reactors (SMRs), advancedlight water reactors (ALWRs) and fast reactors.

An Organization of Technical LeadersRTU has a center-led philosophy that leveragesthe more than 15,000 Westinghouse employeesworldwide to drive technology leadershipforward and develop the next generation of experts. Along with the resources ofToshiba, our parent company, collaborativedevelopment on an even broader range oftechnologies is possible. Going forward,Westinghouse RTU will pioneer the transfer of nuclear technology developments beyondtraditional, electric power generation and intoindustries with similar process applicationchallenges, such as process heat needs inchemical, oil and gas industries.

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MMaaiinnttaaiinniinngg TTeecchhnnoollooggyy LLeeaaddeerrsshhiippWestinghouse continues to serve the world’s growing needfor energy with leading-edge nuclear technology. Currentresearch and development focuses on developing productsand systems for both currently operating nuclear power plants,as well as advanced nuclear designs.

Worldwide electricity demand is expected tonearly double by the year 2030. As a result,the need for energy resources continues togrow. Many countries are earnestly lookingto expand their energy base load by buildingnew commercial nuclear power plants.

With the nuclear renaissanceunderway, Westinghouse is

preparing to meet the increased demand forelectricity. To meet thischallenge, Westinghouse hastaken broad steps towardimproving technologies,

designs and customer-focusedbehaviors and has embarked

on a plan to attract, engage andretain employees.

Increased hiring by Westinghouse, andothers throughout the nuclear

industry, has created asignificant demand

for quality collegegraduates as well

as experiencedprofessionals,

both withand withoutnuclear

experience. Westinghouse is also working with universities throughout the world to revitalize their nuclear engineeringprograms and curriculums.

To support this growth, Westinghouse has built a new, state-of-the-art, worldheadquarters in southwestern Pennsylvania,designed to promote innovation andproductivity.

As the commercial nuclear industry looks forward to the future, Westinghouse is prepared to play a significant role in thenuclear renaissance. With a passion to serve customers and to partner with people and countries around the world,Westinghouse is dedicated to providingtechnology, support and service that willhelp supply future generations with safe,clean and reliable electricity.

WESTINGHOUSE RAMPS UPFOR NUCLEAR GROWTH

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