URS Acquires LopezGarcia Group Inc.

SAN FRANCISCO--(BUSINESS WIRE)--URS Corporation (NYSE:URS) today announced that it has acquired LopezGarcia Group Inc. (“LopezGarcia”), one of Texas’ leading engineering design and environmental planning firms. Headquartered in Dallas, Texas, LopezGarcia has a staff of 200 professionals in five Texas offices and is focused primarily on the state and local infrastructure market. The financial terms of the transaction were not disclosed.

The combination will better enable URS to serve state and local government clients on projects throughout Texas. The transaction expands URS’ existing resources by adding LopezGarcia’s significant presence in the Dallas-Ft. Worth area, which will complement URS’ operations in Houston, Austin and San Antonio.

Commenting on today's announcement, Gary V. Jandegian, President of the URS Division, said: "This acquisition furthers our strategic goal of increasing our presence in the Texas infrastructure market which, due to strong population growth and stable funding, is one of the largest and most attractive infrastructure markets in the country. Texas also is consistently one of the top issuers of government bonds, which are used to fund infrastructure projects. In the first quarter of 2008, Texas was the second largest infrastructure bond issuer at $11.1 billion.”

Dr. Jandegian continued: “LopezGarcia has strong long-term relationships with the Texas Department of Transportation, as well as with counties and cities throughout the state. URS has worked successfully with LopezGarcia on many projects, and we have come to know and respect them as top professionals. I believe that they will be an excellent addition to URS.”

Over the past 20 years, LopezGarcia has provided engineering design, environmental planning, surveying and construction management services for highways, transit systems, airports and public buildings. Recent contracts include: mechanical, electrical and plumbing design services for the new Dallas Cowboys Stadium; program management services for the Dallas-Fort Worth International Airport; engineering design services for U.S. 290 in Houston; and planning and design services for the Trinity Lakes Development Project, the largest public works project ever undertaken by the City of Dallas.

URS Corporation (NYSE: URS) is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. The Company offers a full range of program management; planning, design and engineering; systems engineering and technical assistance; construction and construction management; operations and maintenance; and decommissioning and closure services. URS provides services for power, infrastructure, industrial and commercial, and federal projects and programs. Headquartered in San Francisco, the Company operates through three divisions: the URS Division, the EG&G Division and the Washington Division. URS Corporation has more than 50,000 employees in a network of offices in more than 30 countries (www.urscorp.com).

Statements contained herein that are not historical facts may constitute forward-looking statements, including statements relating to the Company’s business outlook. The Company believes that its expectations are reasonable and are based on reasonable assumptions. However, such forward-looking statements by their nature involve risks and uncertainties. We caution that a variety of factors could cause the Company’s business and financial results to differ materially from those expressed or implied in the Company’s forward-looking statements. These factors include, but are not limited to: an economic downturn; changes in the Company’s book of business; the Company’s compliance with government contract procurement regulations; the Company’s leveraged position and ability to service its debt; restrictive covenants in the Company’s credit facility; the Company’s integration of the Washington Group International, Inc.; the Company’s ability to procure government contracts; the Company’s reliance on government appropriations; the ability of the government to unilaterally terminate the Company’s contracts; the Company’s ability to make accurate estimates and control costs; the Company’s and its partners’ ability to bid on, win, perform and renew contracts and projects; the Company’s dependence on subcontractors and suppliers; customer payment defaults; availability of bonding and insurance; environmental liabilities; liabilities for pending and future litigation; the impact of changes in regulations and laws; a decline in defense spending; industry competition; the Company’s ability to attract and retain key individuals; employee, agent and partner misconduct; risks associated with international operations; business activities in high security risk countries; third party software risks; terrorist and natural disaster risks; the Company’s relationships with its labor unions; the Company’s ability to protect its intellectual property rights; anti-takeover risks and other factors discussed more fully in the Company's Form 10-Q for the quarter ended June 27, 2008, as well as in other reports filed from time to time with the Securities and Exchange Commission. These forward-looking statements represent only the Company’s current intentions, beliefs or expectations, and any forward-looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or update any forward-looking statements.