Westinghouse and Bulgaria Take Steps Toward AP1000® Nuclear Power Plant Construction

SOFIA – December 12, 2013 – Westinghouse Electric Company and Toshiba Corporation welcome the decision of Bulgarian Energy Holding EAD (BEH EAD) to enter into exclusive talks to advance the opportunity to develop and construct an AP1000® nuclear power plant for Kozloduy Unit 7 in Kozloduy, Bulgaria.

Westinghouse and Toshiba will now work collaboratively and actively with BEH EAD over the coming months to further explore and advance the details of a potential project.

“We are very pleased that Bulgaria is focused on advancing the opportunity to develop and construct Kozloduy Unit 7,” said Danny Roderick, Westinghouse president and CEO. “The selection of the Westinghouse AP1000 Generation III+ reactor for Kozloduy Unit 7 will ensure implementation of the highest safety standards as well as give Bulgaria a maximum degree of certainty with respect to investment, licensing to European and global standards, with accelerated and modern construction.”

The first of four AP1000 units is nearing construction completion in China, and four additional AP1000 reactors are in the earlier stages of construction in the U.S. Contracts for another eight AP1000 units are expected to be placed in China shortly. These eight units under construction are substantial references for the Kozloduy 7 unit with scheduled completion all prior to construction at Kozloduy. Westinghouse currently is in discussions with several other European customers in the selection of the Westinghouse AP1000 plant.

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., U.S. 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.

AP1000 is a trademark or registered trademark of Westinghouse Electric Company LLC, its affiliates and/or its subsidiaries in the United States of America and may be registered in other countries throughout the world. All rights reserved. Unauthorized use is strictly prohibited. Other names may be trademarks of their respective owners.
Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and multifunction printers; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances.

Toshiba was founded in 1875, and today operates a global network of more than 590 consolidated companies, with 206,000 employees worldwide and annual sales surpassing 5.8 trillion yen (US$61 billion).

Bulgarian Energy Holding EAD (BEH EAD) is a state owned energy holding company in Bulgaria. BEH EAD subject of activity is acquisition, management, assessment and sale of participations in trading companies, carrying out business activity in the fields of generation, production, transmission, transit, storage, management, distribution, sale and/or purchase of natural gas, electricity, thermal power, coals, as well as any other type of energy and raw materials for the production.

BEH EAD is a shareholding company with 100% state owned participation. The Holding includes Mini Maritsa Iztok EAD, Maritsa East 2 TPP EAD, Kozloduy NPP EAD, NEK EAD, Electricity System Operator EAD, Bulgargaz EAD, Bulgartransgaz EAD and Bulgartel EAD.

Bulgarian Energy Holding EAD is one of the largest companies in the region, and national energy leader, whose assets as at 31 December 2012 amount to BGN 14.5 billion, group total revenue for 2012 amount to BGN 6.5 billion, the number of employees are of about 21 thousand people.