January 30, 2007
Norcross, Georgia —NAC announced today that it will withdraw and resubmit its application before the Nuclear Regulatory Commission (NRC) for spent nuclear fuel dry storage certification of its Modular, Advanced Generation, Nuclear All-purpose Storage (MAGNASTOR®) System. NAC will resubmit the application soon with additional material in a few areas that were identified by the NRC as lacking sufficient detail to complete its review. Resubmitting the MAGNASTOR application is a procedural step required by NRC rules in order for the NRC staff to resume review of the technology.

The MAGNASTOR System provides improved capacity, handling, and ALARA (as low as reasonably achievable) radiation dose performance for dry storage of spent nuclear fuel, along with spent fuel storage efficiency and safety enhancements. The system was developed based upon lessons learned from past technologies to address utility customers’ evolving storage and transportation needs.

NAC has been through two rounds of requests for additional information from the NRC and has participated in several meetings and phone calls with NRC staff. Based on these discussions, NAC understands that the vast majority of material to support NRC’s Safety Evaluation Report (SER) has been accepted. Currently, the NRC is preparing an open issues document to be sent to NAC by letter.

Upon receipt of the new MAGNASTOR application, the NRC will verify that the application’s content is consistent with the earlier submittal’s last revision, and then review those areas previously found to be lacking information. This should make it easier to develop the schedule for issuing the draft Certificate of Compliance for MAGNASTOR.

“NAC appreciates the NRC staff’s feedback and open discussion of the issues it views as material to the certification review. An open, ongoing dialogue is necessary for an effective regulatory process,” said NAC President Kent Cole. “NAC is focused on resubmitting a thoroughly responsive MAGNASTOR application and continuing the open, on-going dialogue with the NRC staff. NAC is committed to developing this innovative spent fuel storage technology and seeing it through to final certification.”

NAC is a strong, diversified company with several business areas and specializes in nuclear fuel transport, spent fuel management technology, and fuel cycle consulting. Since 1968, NAC has been a leader in providing solutions and services to the nuclear industry throughout the world, working with both government and commercial organizations. NAC maintains its Corporate Headquarters in Norcross, Georgia, and has offices in Moscow; London; Tokyo; Croton-on-Hudson, New York; and Aiken, South Carolina. NAC is a subsidiary of USEC Inc. (NYSE: USU), a leading supplier of enriched uranium fuel for commercial nuclear power plants.