UPDATE: USEC Announces Court Has Approved Disclosure Statement

July 7, 2014

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USEC Inc. (NYSE: USU) announced that it will soon begin soliciting holders of
USEC’s convertible notes as well as its two preferred stockholders for votes
on the Company’s Plan of Reorganization following today’s hearing and order by
Judge Christopher S. Sontchi in the United States Bankruptcy Court for the
District of Delaware.

USEC filed the Disclosure Statement describing the Plan of Reorganization with
the court on March 5, 2014, and updated it on June 19. No objections were
raised prior to today’s hearing. The solicitation package, including the
Disclosure Statement and ballot, will be sent to those entitled to vote as of
the record date of July 3, 2014. The deadline for voting is August 11.

The two classes of voting creditors will be asked to vote on the Plan of
Reorganization during a 30-day voting period that is expected to begin July
12. USEC filed a pre-arranged case under Chapter 11 of the United States
Bankruptcy Code on March 5. The Plan of Reorganization is supported by the
holders of approximately 66 percent of the principal amount of the $530
million of notes outstanding. The Plan of Reorganization is also supported by
the two holders of the Company’s preferred equity who will also be entitled to
vote on the Plan of Reorganization. The holders of USEC’s common equity are
assumed to have rejected the Plan and, thus, the votes of such holders will
not be solicited during the upcoming period.

Following the voting period, the Plan of Reorganization is expected to be
reviewed by the court at a confirmation hearing scheduled for September 5.

“We have made steady progress in recent months to restructure USEC and we
anticipate emerging from Chapter 11 protection with an improved balance
sheet,” said John K. Welch, USEC president and chief executive officer.

“We are taking many steps in advance of emerging as a restructured company. We
are working closely with Oak Ridge National Laboratory to continue the
demonstration of the American Centrifuge technology. Our Kentucky employees
have done an outstanding job of preparing the Paducah Gaseous Diffusion Plant
for de-lease and return to the U.S. Department of Energy in October. And we
continue our record of delivering low enriched uranium to our nuclear utility
customers, on time and within specifications,” Welch said.