A reputation for honesty and integrity is an important asset. The ethical conduct of our business and compliance with both the letter and the spirit of the laws and regulations that govern our operations build trust and respect with customers, suppliers, employees, shareholders and the communities where we operate. When we set our standards high and live by what we preach, we improve the way we manage our own affairs, develop a reputation for integrity, and create an atmosphere of confidence between ourselves and those we do business with. This is essential for our success.

To keep us on the path set by these values, the company has developed McDermott Standards. These standards are described in our corporate policies and procedures, our Code of Business Ethics and Conduct, and the revised Securities and Exchange Commission Consent Decree and Foreign Corrupt Practices Act Manual, and our Compliance Manual. This website summarizes those subjects to give you a clear understanding of the McDermott Standards and what is expected of you, our employees. It offers substantial guidance toward helping you make the right choice in situations where the right choice might not always be clear.

The elements of the McDermott Standards are important. Our Corporate Policies Manual governs our operations and provides guidelines for the everyday conduct of business. Our Code of Business Ethics and Conduct describes in detail the ethical standards that govern all of our business operations. The code is available on the McDermott Corporate Intranet site and the policies manual is available on the BWXT & IO Intranet.

Our compliance program provides a system to prevent and detect violations of the Code, our policies and the laws and regulations that govern our business. If you have a question or concern about ethics or any McDermott Standard, you should (if you are comfortable doing so) approach your supervisor or another person in authority at your location. Alternatively, the organization and resources comprising our ethics and compliance program are shown on Button 3. This includes the names and telephone numbers of compliance coordinators who have been appointed in each area in which BWXT operates. Finally, you can call the HelpLine (800-456-6236) that is available 24 hours a day, seven days a week to all employees at all locations. When you call you may remain anonymous if you wish, and you have our promise that we will not tolerate any retaliation or repercussion against anyone who reports an actual or suspected violation.

Please familiarize yourself with the contents of this Web site. It should help you deal fairly with your fellow employees as well as with people outside our companies. In an ideal world, you would never need to know what is presented here, but because the line between the right choice and the wrong choice is not always clearly drawn, we believe it will be a valuable tool to help us set and maintain high ethical standards.