Apr 25, 2019   SOURCE: PR NewsWire

MSCI to change KBR's GICS® Code to IT Consulting & Other Services

HOUSTON, April 25, 2019 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today that MSCI Inc. (MSCI) has confirmed that KBR's Global Industry Classification Standard (GICS(®)) code will be changing to 45102010 (IT Consulting & Other Services), which will align with KBR's government services peer companies. The new GICS(®) code will be effective as of the market close on April 30, 2019.

This GICS(®) code more accurately reflects the company's transformed business mix, where more than 60% of KBR's consolidated results stem from the government segment.

The GICS(®) was developed by MSCI and S&P Dow Jones Indices in an effort to offer an efficient investment tool that captures the breadth, depth and evolution of industry sectors. For more than 40 years, MSCI's research-based indexes and analytics have helped the world's leading investors build and manage better portfolios. S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500(®) and the Dow Jones Industrial Average(®).

As a general rule, a company is classified in the sub-industry whose definition most closely describes the business activities that generate more than 60% of the company's revenues. The GICS(®) currently consist of 11 sectors, 24 industry groups, 69 industries and 158 sub-industries. Under the GICS(®), each company is assigned uniquely to one sub-industry according to its principal business activity.

About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 36,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:

    --  Government Services, serving government customers globally, including
        capabilities that cover the full lifecycle of defense, space, aviation
        and other government programs and missions from research and
        development, through systems engineering, test and evaluation, program
        management, to operations, maintenance, and field logistics
    --  Technology, including proprietary technology focused on the monetization
        of hydrocarbons (especially natural gas and natural gas liquids) in
        ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil
        refining and gasification
    --  Hydrocarbons Services, including onshore oil and gas; LNG (liquefaction
        and regasification)/GTL; oil refining; petrochemicals; chemicals;
        fertilizers; differentiated EPC; maintenance services (Brown & Root
        Industrial Services); offshore oil and gas (shallow-water, deep-water,
        subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management
        and consulting services

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. 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.

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SOURCE KBR, Inc.