The Babcock & Wilcox Company (B&W) (NYSE: BWC) announced today that its subsidiary Babcock & Wilcox Power Generation Group, Inc. (B&W PGG) has been awarded a $43 million contract by architectural, engineering and construction firm Burns & McDonnell to engineer and supply a spray dry absorber (SDA) system and a pulse jet fabric filter baghouse for Interstate Power and Light Company's (IPL) Ottumwa Generating Station power plant in Ottumwa, Iowa.

B&W PGG's SDA system will control sulfur dioxide (SO₂) and the baghouse will control particulate emissions from the 726 megawatt, coal-fired power plant.

"B&W is pleased and appreciative to have been selected by prime contractor Burns & McDonnell and the utility, IPL, for the opportunity to supply equipment for this environmental upgrade project," said Richard L. Killion B&W PGG President and Chief Operating Officer. "New federal regulations, including the Cross-State Air Pollution Rule (CSAPR), have created a need for efficient and effective emissions control technology.

"As a leader in 'dry scrubber' technology, B&W is ready to support utility and industrial customers with related environmental projects."

Engineering work for the project is currently underway and start-up is anticipated for May 2014.

About B&W

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,000 people, in addition to approximately 10,000 joint venture employees. Learn more at www.babcock.com.

Cautionary Statement Regarding Forward Looking Statements

B&W cautions that this release contains forward-looking statements, including statements relating to the timing, scope and performance of the environmental equipment contract for IPL. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing on the contract and adverse changes in regulations affecting the emissions control industry. If one or more of these or other risks materialize, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see B&W's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2010 and subsequent quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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Media Contact:
Ryan Cornell
Public Relations Specialist
The Babcock & Wilcox Company
330.860.1345
rscornell@babcock.com

Investor Contact:
Michael P. Dickerson
Vice President and Investor Relations Officer
The Babcock & Wilcox Company
704.625.4944
investors@babcock.com