THE WOODLANDS, Texas, Aug. 30, 2016

CB&I Announces Facilities Restoration and Modernization Contract at Arnold Air Force Base 

CB&I (NYSE:CBI) today announced it has been awarded a multi-year contract with a value to CB&I of approximately $75 million by the Air Force Test Center at Arnold Air Force Base in Tullahoma, Tennessee. CB&I's scope of work includes plant and infrastructure sustainment, restoration and modernization to support the center's research, development, test and evaluation mission.   

"We are pleased to work with the Air Force Test Center and support its critical role in the U.S. Air Force," said Chip Ray, President of CB&I's Capital Services operating group. "This award underscores the innovative solutions CB&I provides to our customers in the Federal government and their confidence in our ability to execute."

About CB&I  
CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With over 125 years of experience and the expertise of more than 40,000 employees, CB&I provides reliable solutions to our customers around the world while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.CBI.com. 

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Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2015, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.

Investors: Scott Lamb, +1 832 513 1068, Scott.Lamb@CBI.com 
Media: Gentry Brann, +1 832 513 1031, Gentry.Brann@CBI.com

SOURCE CB&I

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