GSE Announces over $7 Million in Nuclear Sector Simulation Awards

SYKESVILLE, Md.--(BUSINESS WIRE)--GSE Systems, Inc. (GSE) (NYSE Amex:GVP), a leading global provider of real-time simulation and training solutions to the power, process, manufacturing and Government sectors, announced the award of approximately $7 million of new work in its nuclear simulation sector. Included in the awards is a contract to construct a Westinghouse AP1000^TM plant simulator for Southern Nuclear’s Vogtle site located in Georgia and a contract for the remaining value of the Haiyang AP1000^TM simulator in China. In addition, the Company received awards for upgrade services from the U.S. Nuclear Regulatory Commission.

On July 30, 2009, the Company announced the award to build simulation models to assist Westinghouse with the AP1000^TM design finalization. That work formed the basis for the domestic AP1000^TM plant simulator designs. This new award is to develop a simulator that is specific to the unique characteristics of the Vogtle plant site.

On April 14, 2008, the Company announced the award of a contract to engineer and construct an AP1000^TM simulator in Haiyang, China. The contract award was based upon the Haiyang and Sanmen plants being nearly identical designs. As the Haiyang design progressed it deviated from Sanmen and the recent contract is for GSE to implement the “uncommon” design features of Haiyang.

In addition to the AP1000^TM simulator awards, the Company was awarded a contract by the U.S. Nuclear Regulatory Commission to upgrade one of the simulators operated by the NRC at its Chattanooga Training Center. The contract includes new computer systems and the implementation of the Company’s RELAP5-HD^TM reactor core thermo-hydraulic simulation code.

John V. Moran, GSE’s Chief Executive Officer stated, “For GSE, the contract for the first domestic AP1000^TM plant simulator marks the true start of the nuclear renaissance in America. Of the 25 applications formally filed with the NRC to build new reactor plants in the United States,13 have selected the AP1000^TM design. In addition, the selection of our RELAP5-HD^TM code by the NRC adds significant credibility to our product and bodes well for overall industry acceptance of this solution.”

GSE Systems, Inc. provides training simulators and educational solutions. The Company has over three decades of experience, over 362 installations, and 100 customers in more than 40 countries. Our software, hardware and integrated training solutions leverage proven technologies to deliver real-world business advantages to the energy, process, manufacturing and government sectors worldwide. GSE Systems is headquartered in Sykesville, Maryland located in the western suburbs of Baltimore, Maryland. Our global locations include offices in St. Marys and Augusta, Georgia; Tarrytown, New York; Nyköping, Sweden; Stockton-on-Tees, UK; and Beijing, China. Information about GSE Systems is available via the Internet at http://www.gses.com.

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