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KBR, Inc.: KBR Finalizes Partnerships with Bernhard Capital Partners

- October 9, 2015 - KBR announced today that on September 30, 2015 it
finalized two previously announced partnerships with Bernhard Capital
Partners (BCP).

One partnership is the equally owned and managed company, Brown&Root
Industrial Services, under which all of KBR's U.S. and Canadian industrial
services and on-call construction is now operating.

Under the other partnership, all of KBR's Canadian pipe fabrication business
has become Falcon Fabricators and Modular Builders, a subsidiary of EPIC
Piping, a BCP portfolio company in which KBR is a minority limited partner.
This partnership will enhance KBR's delivery performance providing access to
all of EPIC's world class pipe fabrication facilities in Louisiana&Texas.

"With this announcement, KBR has achieved another milestone in our
implementation of the strategic plan we announced last year to transform our
business," said Stuart Bradie, KBR President and CEO. "These partnerships
further streamline our business so that we can continue to deliver for our

KBR received approximately $32 million in net cash proceeds from the two

About KBR, Inc.KBR, Inc. is a global technology, engineering, procurement and construction
company serving the hydrocarbons and government services industries,
employing approximately 25,000 people worldwide with customers in more than
70 countries and operations in 40 countries across three distinct global

* Technology&Consulting, including proprietary technology in refining,
ethylene, ammonia and fertilizers, and gasification; and niche consulting
and know-how through subsidiaries Granherne, Energo and GVA
* Engineering&Construction, including Offshore Oil&Gas; Onshore Oil&Gas;
LNG/GTL; Refining; Petrochemicals; Chemicals; differentiated EPC, and
Industrial Services
* Government Services, including program management and long term annuity

KBR is proud to work with its customers across the globe to provide
technology, value-added consulting services, integrated EPC delivery and Long
Term Industrial Services to ensure consistent project delivery with
predictable results. At KBR, we deliver.


Forward Looking StatementThe statements in this press release that are not historical statements,
including statements regarding future financial performance, are
forward-looking statements within the meaning of the federal securities laws.
These statements are subject to numerous risks and uncertainties, many of
which are beyond the company's control that could cause actual results to
differ materially from the results expressed or implied by the statements.
These risks and uncertainties include, but are not limited to: the outcome of
and the publicity surrounding audits and investigations by domestic and
foreign government agencies and legislative bodies; potential adverse
proceedings by such agencies and potential adverse results and consequences
from such proceedings; the scope and enforceability of the company's
indemnities from its former parent; changes in capital spending by the
company's customers; the company's ability to obtain contracts from existing
and new customers and perform under those contracts; structural changes in
the industries in which the company operates; escalating costs associated
with and the performance of fixed-fee projects and the company's ability to
control its cost under its contracts; claims negotiations and contract
disputes with the company's customers; changes in the demand for or price of
oil and/or natural gas; protection of intellectual property rights;
compliance with environmental laws; changes in government regulations and
regulatory requirements; compliance with laws related to income taxes;
unsettled political conditions, war and the effects of terrorism; foreign
operations and foreign exchange rates and controls; the development and
installation of financial systems; increased competition for employees; the
ability to successfully complete and integrate acquisitions; and operations
of joint ventures, including joint ventures that are not controlled by the

KBR's most recently filed Annual Report on Form 10-K, any subsequent Form
10-Qs and 8-Ks, and other Securities and Exchange Commission filings discuss
some of the important risk factors that KBR has identified that may affect
the business, results of operations and financial condition. Except as
required by law, KBR undertakes no obligation to revise or update publicly
any forward-looking statements for any reason.

For further information, please contact:Investors
Zac Nagle
Vice President, Investor Relations


Marit Babin
Director, Global Communications&Government Relations


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: KBR, Inc. via Globenewswire


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