URS together with NRG Energy have signed a definitive agreement for the sale of German mining and power business, MIBRAG, to a joint venture comprised of CEZ and J&T Finance Group. CEZ is the largest electricity producer in the Czech Republic and holds a leading position in the Central European electricity market. J&T, which also is based in the Czech Republic, is a leading European private firm active in the energy sector. URS and NRG are each 50% owners of MIBRAG (IM, March 2008). The transaction, which is expected to close in the second quarter of 2009, is subject to customary closing conditions, including European Union regulatory approvals. MIBRAG is an integrated lignite mining and power operation located approximately 40 km south of the eastern German city of Leipzig. It is comprised of two open-cast lignite mines and three coal-fired combined heat and power plants. The three plants are supplied with lignite from the mines and provide the power for mining operations. Surplus power is sold to external customers. The mines also supply lignite to other major power plants owned by third parties.

URS acquired its ownership position in MIBRAG with its acquisition of Washington Group International in November 2007. URS explored the sale of MIBRAG because its operations are outside of URS’ strategic focus on professional engineering, construction and technical services.