Press Release

Houston, Texas - May 29, 2014 - KBR Inc. (NYSE: KBR) announced today that the company has been awarded a contract by Gulf LNG Liquefaction Company, LLC (GLLC), an affiliate of Gulf LNG Energy, LLC (GLE), to provide Federal Energy Regulatory Commission (FERC) FEED engineering and FERC report pre-filing services to support the addition of ten million metric tons per year of liquefaction and export capabilities to GLE's existing liquefied natural gas (LNG) import terminal, Gulf LNG Terminal, located in Jackson County, Miss.

Expected revenue from the contract will be included in the second quarter 2014 backlog of unfilled orders for the Gas Monetization segment. The contract value was not disclosed.

Under the terms of the contract, KBR will perform FERC FEED engineering for two LNG trains (each five million metric tons per year) and associated facilities based on KBR's proven reference design using APCI C3MR Technology. Additionally, KBR will provide the technical documentation required by the Federal Energy Regulatory Commission (FERC) during the pre-filing process.

These facilities will allow the terminal to liquefy domestic natural gas delivered by pipeline, store the LNG in the terminal's existing LNG storage tanks, and load it into LNG vessels via the terminal's existing marine jetty. The terminal will retain its current capability to receive, store, re-gasify, and deliver natural gas into the interstate pipeline system as originally constructed, thereby making the Gulf LNG Terminal bi-directional.

"We are excited to expand our work with Gulf LNG Liquefaction Company and to contribute to this important development in Mississippi," said Ivor Harrington, KBR Gas Monetization Group President. "This contract award demonstrates the continued confidence in KBR's LNG project experience and leverages our U.S. construction capability and provides opportunity for a full service EPC contract at a later date".

About KBR

KBR is a global engineering, construction and services company supporting the energy, hydrocarbons, power, industrial, civil infrastructure, minerals, government services and commercial markets. For more information, visit www.kbr.com.

Forward Looking Statement

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.

CONTACT:
Zac Nagle
Vice President,
Investor Relations and Communications
713-753-5082
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or

Rick Goins
Director, Corporate Communications
713-753-3800
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