Perini Corp.

Perini Corporation (NYSE:PCR) announced that it has entered into a settlement with the US Department of Justice and the US Department of State resolving claims by both Perini and the government relating to construction of the US Embassy building in Caracas, Venezuela. Perini has agreed to pay the government $998,500. Robert Band, President and Chief Operating Officer of Perini Corporation issued the following statement relating to the settlement:

"Perini Corporation is pleased that it was able to resolve all claims against and by the United States arising from its construction of the U.S. Embassy building in Caracas, Venezuela. The building was completed, pursuant to a Department of State contract; in 1995 and generated vigorously disputed claims by both the United States and Perini Corporation. The Department of State is a valued customer of the Company, and Perini Corporation is pleased to resolve these issues and put the matter behind us." (Nov-19-04) [BUSINESS WIRE]

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