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15-06-2015

Willbros sells its downstream and heater engineering services

Willbros Group, Inc announced today that it has completed the initial transaction of its recently disclosed intention to sell its Professional Services segment. On June 12 Willbros closed the sale of its Downstream Engineering services, based in Baton Rouge, Louisiana, and its Heater Engineering Services, based in Tulsa, Oklahoma, to a group led by Bernhard Capital Partners. The Company is continuing to pursue the sale of the balance of the Professional Services segment, which includes the midstream and mainline engineering operations, the Integrity solutions and technology business, the Land and Survey group, and the Government Services business.  The balance of the businesses which remain to be sold includes the Company's legacy engineering operations in Tulsa, acquired in 1981 with the purchase of Butler Associates, Inc., and the technology solutions developed jointly with Google, trademarked as IntegraLink. These remaining businesses constitute the core service offerings of the Professional Services segment. Willbros has retained Greenhill & Co., LLC, to represent the Company and manage the sale process.

The Company noted that there can be no assurance that the decision to offer the segment for sale will result in the Company pursuing a particular transaction or completing any such transaction. The Company has not set a definitive timetable for completion of the process and does not intend to disclose further developments until its Board of Directors approves a specific action.

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