Today, more than ever, companies are valued as much for their ethical behavior and integrity as for their financial performance. Fluor's highly regarded reputation has evolved over many years and is among the company's most valuable assets. Ethics policies based on sound judgment and fair dealings are vital to our clients and integral to our reputation.

Recognizing that a single unethical act could jeopardize our reputation and bottom line, we maintain a comprehensive Compliance and Ethics Program. This program develops and coordinates compliance activities in our business lines and functional groups. Such activities include risk assessments to determine needs, establish codes and policies, provide training, and conduct investigations.

For example, Fluor Corporation is a global leader in battling bribery and corruption that unfortunately still permeate some portions of the engineering and construction industry. Chief Executive Officer Alan Boeckmann has played a major role in developing a proactive global anti-corruption initiative that is gathering increasing momentum. Among Fluor's many other initiatives is an effective Export Compliance Program, which compiles specific procedures for the handling of exports of material, equipment, and technology. To monitor ongoing activities, Fluor named Wendy Hallgren as Vice President of Corporate Compliance.