Fluor Corporation (NYSE: FLR) announced today that its 1.50% Convertible Senior Notes due 2024 (Notes) are now convertible at the option of the holders and will remain convertible through September 30, 2009, the last trading day of the third fiscal quarter, as provided in the Indenture, dated as of February 17, 2004, between Fluor and the Bank of New York, as Trustee, as amended and supplemented by the First Supplemental Indenture, dated as of February 17, 2004 (the Indenture).

The Notes became convertible because Fluor’s common stock exceeded the conversion threshold price of $36.20 per share (130 percent of the applicable conversion price of $27.85 per share) for at least 20 trading days within the 30 consecutive trading days ending June 30, 2009.

As a result, during the conversion period of July 1, 2009 through September 30, 2009 (inclusive), holders of the Notes may elect to convert some or all of their Notes. Whether the Notes will be convertible at any time after September 30, 2009 will depend on the occurrence of events specified in the Indenture, including the price of Fluor’s common stock during subsequent quarters.

Upon surrendering Notes for conversion in accordance with the Indenture, the holder of the Notes will receive (1) cash up to the aggregate principal amount of the Notes subject to conversion and (2) Fluor’s common stock in respect of the remainder (if any) of Fluor’s conversion obligation.

Holders of Notes may obtain further information on how to convert their notes by contacting the conversion agent at the following address: The Bank of New York Mellon Trust Company, N.A., 101 Barclay Street, 7 East, New York, New York 10286, Attention: Diane Amoroso. Questions and requests for assistance in connection with the conversion of the Notes may also be directed to Bondholder Relations at The Bank of New York Mellon Trust Company, N.A., at 1-800-254-2826.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any Notes or Fluor’s common stock.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenues of $22.3 billion in 2008.