ČEZ Temelín Bid Ranking Reaffirms Westinghouse AP1000® Nuclear Power Plant Credentials; Westinghouse Temelín Bid Achieves Highest Ranking

PRAGUE — March 25, 2013 — Westinghouse Electric Company today welcomed the preliminary ranking by ČEZ a.s. of its bid for the expansion of Temelín Nuclear Power Plant in the Czech Republic. The top ranking by ČEZ reaffirms the quality and depth of the Westinghouse bid to develop and deliver a turnkey dual-unit AP1000 plant at Temelín.

Westinghouse and its partners will continue to work closely with ČEZ during the next phase of the negotiations to provide a superior and competitive project that will meet Czech and European Union licensing requirements combined with the strength of our local construction and project team to deliver safely, on time and on budget.

“The AP1000 is the only solution offering a unique combination of four key benefits to ČEZ and the Czech Republic: unequaled safety, licensing and project certainty, a high degree of sustainable and regional localization and technology and fuel diversification. The prior completion of Temelín Units 1 and 2 beginning in the early 1990s by Westinghouse and its Czech partners provides an additional basis of confidence in a successful expansion. I firmly believe that the AP1000 will remain the top technology choice at the end of the bid process,” said Danny Roderick, Westinghouse president and CEO.

Safety is the cornerstone of any nuclear project. The AP1000 design is the only pressurized water reactor (PWR) design that includes advanced passive safety systems and extensive plant simplifications to enhance plant safety, construction, assembly, operation and maintenance. The plant design also uses proven, standardized technology, which is based on 50 years of operating pressurized PWR experience.

The AP1000 is the only Generation III+ commercial nuclear power reactor to receive Design Certification from the U.S. Nuclear Regulatory Commission (NRC). In Europe specifically, the European Utility Requirements (EUR) organization has certified that the AP1000 design complies with its requirements, thereby confirming that the AP1000 can be successfully deployed in Europe. Additionally, regulators in the United Kingdom have granted interim approval to the AP1000 design.

The AP1000 will be predominately supplied and built by Czech companies. A winning Czech delivery team has been formed by bringing together the proven design capabilities of Westinghouse and its majority owner, Toshiba Corporation, combined with the leading Czech construction company Metrostav a.s. Westinghouse and its partners are actively and extensively engaging Czech industry in the engineering, supply and construction of AP1000 plants and will continue to forge agreements that would make Czech businesses valued suppliers for new plants in the Czech Republic and future export markets. When considering the opportunity this represents, it is important to consider that Westinghouse has an unmatched record of successfully engaging suppliers in Spain, France, Japan, Korea and China, and employing such industries on a global basis.

The first of four AP1000s is nearing construction completion in China, and four additional AP1000s are in the earlier stages of construction in the U.S. Contracts for another two AP1000 reactors also have been placed in the U.S. These eight units under construction are substantial references for the Temelín 3 and 4 units with scheduled completion all prior to construction at Temelín. Westinghouse currently is in discussions with several other European customers in the selection of the AP1000.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa., USA. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including more than 50 percent of those in Europe.