Jacobs Awarded Contract for California High Speed Rail

PASADENA, Calif.--(BUSINESS WIRE)-- Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it was awarded a contract to provide design services for the Construction Package 2-3 (CP 2-3) of the California High Speed Rail, which represents the continuation of construction on the California high-speed rail system south towards Kern County. Jacobs is the lead designer for the Dragados-Flatiron Joint Venture for the design-build contract and is responsible for the infrastructure design.

Officials estimate the construction value to be $1.2 billion.

The California High Speed Rail is the first true high-speed rail being constructed in the United States, with operating speeds of up to 220 miles per hour. The ultimate program stretches from San Diego to San Francisco and includes connections in major cities along the alignment such as Los Angeles, Burbank, Palmdale, Bakersfield, Fresno and a spur to Sacramento.

The CP 2-3 is expected to provide 65 miles of infrastructure improvements required for the future high-speed rail (HSR), including over 10 million yards of new HSR embankment, 23 HSR structures and 32 new roadway grade separations. The project covers a 65-mile portion of the 120-mile initial construction segment, which will be used as a test track for vehicles before being put into service.

In making the announcement, Jacobs Group Vice President Randy Pierce stated, “This project is one of the largest in the state’s history and, once completed, should provide the traveling public with a fast, clean alternative stretching from Southern to Northern California.”

Jacobs is one of the world's largest and most diverse providers of technical professional and construction services.

Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management’s current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2013 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.

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Source: Jacobs Engineering Group Inc.

Jacobs Engineering Group Inc.

Robin Shermer, 817-735-6284