8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 6, 2005

URS Corporation

(Exact name of registrant as specified in its charter)

DELAWARE
(State or other jurisdiction of incorporation)

1-7567	94-1381538
(Commission File No.)	(IRS Employer
	Identification No.)

600 Montgomery Street, 26^th Floor
San Francisco, California 94111-2728
(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (415) 774-2700

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

EXHIBIT 5.1

EXHIBIT 10.1

EXHIBIT 10.2

EXHIBIT 99.1

Item 1.01. Entry into a Material Definitive Agreement.

     (a) On June 6, 2005, URS Corporation (the “Company”) and its Subsidiary Guarantors entered into a Limited Waiver (the “Limited Waiver”) to its Credit Agreement, dated as of August 22, 2002, as amended to date, with Credit Suisse, as administrative agent, and other financial institutions, as lenders. The Limited Waiver permits the Company, for a 180-day period, to use the net proceeds from the sale of the Company’s common stock as described below, together with cash and borrowings, as necessary, to repurchase the Company’s outstanding $130 million aggregate principal amount of 11¹/2% Senior Notes due 2009. The foregoing description of the Limited Waiver is qualified in its entirety by reference to Exhibit 10.1 below.

     (b) On June 8, 2005, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. Incorporated and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the several underwriters named in Schedule I to the Underwriting Agreement (collectively, the “Underwriters”), pursuant to which the Company issued and sold to the Underwriters 3,636,721 shares of the Company’s common stock (the “Shares”). The Company has granted to the Underwriters an option to purchase up to 363,672 shares of common stock to cover over-allotments, if any. The Underwriting Agreement is attached hereto as Exhibit 10.2.

     Attached as Exhibit 5.1 to this Form 8-K is the opinion of Cooley Godward LLP relating to the legality of the Shares.

Item 7.01 Regulation FD Disclosure.

     A copy of the press release, entitled “URS Corporation Announces Pricing of Offering of 3,636,721 Shares of Common Stock; Proceeds to Be Used for Repurchase of Outstanding 11¹/2% Notes,” is furnished and not filed pursuant to Item 7.01 as Exhibit 99.1 hereto. Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(c)   Exhibits

5.1	Opinion of Cooley Godward LLP.
10.1	Limited Waiver entered into by and among URS Corporation and its Subsidiary Guarantors, Credit Suisse, as administrative agent, and other financial institutions, as lenders.
10.2	Underwriting Agreement, dated June 8, 2005, by and among the Company, Morgan Stanley & Co. Incorporated and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the several underwriters named in Schedule I thereto.
23.1	Consent of Cooley Godward LLP. Reference is made to Exhibit 5.1.
99.1	Press Release, dated June 9, 2005, entitled “URS Corporation Announces Pricing of Offering of 3,636,721 Shares Of Common Stock; Proceeds to Be Used for Repurchase of Outstanding 111/2% Notes.”

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, URS Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	URS CORPORATION
Dated: June 9, 2005	By:	/s/ Reed N. Brimhall
		Reed N. Brimhall
		Vice President, Controller and Chief Accounting Officer

EXHIBIT INDEX

5.1	Opinion of Cooley Godward LLP.
10.1	Limited Waiver entered into by and among URS Corporation and its Subsidiary Guarantors, Credit Suisse, as administrative agent, and other financial institutions, as lenders.
10.2	Underwriting Agreement, dated June 8, 2005, by and among URS Corporation, Morgan Stanley & Co. Incorporated and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the several underwriters named in Schedule I thereto.
23.1	Consent of Cooley Godward LLP. Reference is made to Exhibit 5.1.
99.1	Press Release, dated June 9, 2005, entitled “URS Corporation Announces Pricing of Offering of 3,636,721 Shares Of Common Stock; Proceeds to Be Used for Repurchase of Outstanding 111/2% Notes.”

EX-5.1

Exhibit 5.1

ATTORNEYS AT LAW	Broomfield, CO
	720 566-4000
One Maritime Plaza	Palo Alto, CA
20th Floor	650 843-5000
San Francisco, CA	Reston, VA
94111-3580	703 456-8000
Main 415 693-2000	San Diego, CA
Fax 415 951-3699	858 550-6000
www.cooley.com
SAMUEL M. LIVERMORE
(415) 693-2113
slivermore@cooley.com

June 8, 2005

URS Corporation
600 Montgomery Street, 26th Floor
San Francisco, CA 94111-2728

Ladies and Gentleman:

You have requested our opinion with respect to certain matters in connection with the sale by URS Corporation, a Delaware corporation (the “Company”), of 3,636,721 shares of the Company’s common stock, $0.01 par value (the “Shares”), pursuant to a Registration Statement on Form S-3 and the related Prospectus and Prospectus Supplement filed with the Securities and Exchange Commission (the “Commission”). All of the Shares are to be sold by the Company as described in the Registration Statement and related Prospectus and Prospectus Supplement.

In connection with this opinion, we have examined and relied upon the Registration Statement and related Prospectus included therein, the Prospectus Supplement filed with the Commission pursuant to Rule 424 under the Securities Act of 1933, as amended, the Company’s Amended and Restated Certificate of Incorporation and By-Laws, as currently in effect, and the originals or copies certified to our satisfaction of such other records, documents, certificates, memoranda and other instruments as we deem necessary or appropriate to enable us to render the opinion expressed below. We have assumed the genuineness and authenticity of all documents submitted to us as originals, the conformity to originals of all documents submitted to us as copies thereof and the due execution and delivery of all documents where due execution and delivery are a prerequisite to the effectiveness thereof.

On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when sold in accordance with the Registration Statement and the related Prospectus and the Prospectus Supplement, will be validly issued, fully paid and nonassessable.

We consent to the reference to our firm under the caption “Legal Matters” in the Prospectus and the Prospectus Supplement included in the Registration Statement and to the filing of this opinion as an exhibit to the Registration Statement.

Very truly yours,

COOLEY GODWARD LLP

By:	/s/ Samuel M. Livermore
	Samuel M. Livermore

EX-10.1

Exhibit 10.1

LIMITED WAIVER REGARDING REPURCHASE OF
OUTSTANDING SENIOR NOTES

     This LIMITED WAIVER (this “Waiver”) is dated as of June 6, 2005 and is entered into by and among URS CORPORATION, a Delaware corporation (“Company”), the FINANCIAL INSTITUTIONS LISTED ON THE SIGNATURE PAGES HEREOF (the “Lenders”), CREDIT SUISSE, Cayman Islands Branch (formerly Credit Suisse First Boston), as administrative agent for Lenders (“Administrative Agent”) and, for purposes of Section 6 hereof, the Loan Parties other than Company listed on the signature pages hereof (the “Subsidiary Guarantors”) and is made with reference to that certain Credit Agreement dated as of August 22, 2002, as amended by that certain First Amendment to Credit Agreement dated as of January 30, 2003, that certain Second Amendment to Credit Agreement dated as of November 6, 2003, that certain Third Amendment to Credit Agreement dated as of December 16, 2003, that certain Fourth Amendment to Credit Agreement dated as of March 29, 2004, that certain Fifth Amendment to Credit Agreement dated as of June 4, 2004, that certain Sixth Amendment to Credit Agreement dated as of November 29, 2004 and that certain Seventh Amendment to Credit Agreement dated as of January 27, 2005 (as so amended and as further amended, modified, restated or otherwise supplemented to the date hereof, the “Credit Agreement”), by and among Company, Lenders, CREDIT SUISSE FIRST BOSTON, as a Co-Lead Arranger and Administrative Agent for Lenders, WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Co-Lead Arranger and Syndication Agent for Lenders, and BNP PARIBAS, HARRIS TRUST & SAVINGS BANK and THE ROYAL BANK OF SCOTLAND PLC, as Co-Documentation Agents for Lenders. Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Credit Agreement.

RECITALS

     WHEREAS, Company and the Lenders desire to waive compliance with certain provisions related to the repurchase of all outstanding Senior Notes;

     NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows:

Section 1. WAIVER

     Subject to the terms and conditions set forth herein and in reliance on the representations and warranties of Company herein contained, the undersigned Lenders, constituting Requisite Lenders, hereby waive compliance with the provisions of subsections 2.4B(iii)(c) and 7.5B of the Credit Agreement to the extent, and only to the extent, necessary to permit Company, prior to the date that is 180 days following the date hereof, to use the Net Securities Proceeds from the issuance of the Capital Stock of Company, together with Cash on hand and the proceeds of Revolving Loans, to repurchase the outstanding Senior Notes.

Section 2. LIMITATION OF WAIVER

     Without limiting the generality of the provisions of subsection 10.6 of the Credit Agreement, the waiver set forth above shall be limited precisely as written and relates solely to the noncompliance by Company with the provisions of subsections 2.4B(iii)(c) and 7.5B of the Credit Agreement in the manner and to the extent described above, and nothing in this Waiver shall be deemed to:

     (a) constitute a waiver of compliance by Company with respect to (i) subsections 2.4B(iii)(c) and 7.5B of the Credit Agreement in any other instance or (ii) any other term, provision or condition of the Credit Agreement or any other instrument referred to therein; or

     (b) prejudice any right or remedy that Administrative Agent or any Lender may now have (except to the extent such right or remedy was based upon existing defaults that will not exist after giving effect to this Waiver) or may have in the future under or in connection with the Credit Agreement or any other instrument or agreement referred to therein.

     Except as expressly set forth herein, the terms, provisions and conditions of the Credit Agreement and the other Loan Documents shall remain in full force and effect and in all other respects are hereby ratified and confirmed.

Section 3. REPRESENTATIONS AND WARRANTIES

     In order to induce Lenders to enter into this Waiver, Company hereby represents and warrants that:

     (a) as of the date hereof, there exists no Event of Default or Potential Event of Default under the Credit Agreement;

     (b) all representations and warranties contained in the Credit Agreement and the other Loan Documents are true, correct and complete in all material respects on and as of the date hereof except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date; and

     (c) as of the date hereof, Company has performed all agreements to be performed on its part as set forth in the Credit Agreement.

Section 4. COUNTERPARTS; EFFECTIVENESS

     This Waiver may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same

Limited Waiver

2

instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. This Waiver shall become effective as of the date hereof upon the execution of counterparts hereof by Company and Subsidiary Guarantors and by Lenders constituting Requisite Lenders and receipt by Company and Administrative Agent of written or telephonic notification of such execution and authorization of delivery thereof.

Section 5. GOVERNING LAW

     THIS WAIVER AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE APPLICATION OF ANOTHER LAW.

Section 6. ACKNOWLEDGEMENT AND CONSENT BY SUBSIDIARY GUARANTORS

     Each Subsidiary Guarantor hereby acknowledges that it has read this Waiver and consents to the terms thereof and further hereby confirms and agrees that, notwithstanding the effectiveness of this Waiver, the obligations of Subsidiary Guarantor under the Subsidiary Guaranty shall not be impaired or affected and the Subsidiary Guaranty is, and shall continue to be, in full force and effect and is hereby confirmed and ratified in all respects.

[Remainder of page intentionally left blank.]

Limited Waiver

3

     IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above.

URS CORPORATION, a Delaware corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President and Chief Financial Officer
CREDIT SUISSE, Cayman Islands Branch (formerly Credit Suisse First Boston),
Individually and as Administrative Agent
By:	/s/ S. William Fox
Title:	Director
By:	/s/ David Dodd
Title:	Vice President

Limited Waiver

[SUBSIDIARY GUARANTORS:]
	AMAN ENVIRONMENTAL CONSTRUCTION, INC., a California corporation
	By:	/s/ Kent P. Ainsworth
	Name:	Kent P. Ainsworth
	Title:	Executive Vice President and Chief Financial Officer
	BANSHEE CONSTRUCTION COMPANY, INC.,
	a California corporation
	By:	/s/ Rita Armstrong
	Name:	Rita Armstrong
	Title:	Vice President and Treasurer
	CLEVELAND WRECKING COMPANY,
	a California corporation
	By:	/s/ Rita Armstrong
	Name:	Rita Armstrong
	Title:	Vice President and Treasurer
	EG&G DEFENSE MATERIALS, INC.,
	a Utah corporation
	By:	/s/ William Neeb
	Name:	William Neeb
	Title:	Vice President, Chief Financial Officer, Assistant Secretary and Assistant Treasurer

Limited Waiver

EG&G TECHNICAL SERVICES, INC.,
a Delaware corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President
D&M CONSULTING ENGINEERS, INC.,
a Delaware corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President and Chief Financial Officer

Limited Waiver

E.C. DRIVER & ASSOCIATES, INC.,
a Florida corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President and Chief Financial Officer
LEAR SIEGLER LOGISTICS INTERNATIONAL, INC.,
a Delaware corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President
LEAR SIEGLER SERVICES, INC.
a Delaware corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President
RADIAN ENGINEERING, INC.
a New York corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President, Chief Financial Officer and Secretary

Limited Waiver

URS CORPORATION AES,
a Connecticut corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President and Chief Financial Officer
URS CORPORATION ARCHITECTURE - NC, P.C.,
a North Carolina corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President and Chief Financial Officer
URS CORPORATION —NEW YORK,
a New York corporation
By:	/s/ Peter J. Pedalino
Name:	Peter J. Pedalino
Title:	Vice President, Treasurer and Controller
URS RESOURCES, LLC,
a Delaware limited liability company
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Member Representative
RADIAN INTERNATIONAL LLC,
a Delaware limited liability company

By:	/s/ Judy L. Rodgers
Name:	Judy L. Rodgers
Title:	Vice President and Treasurer

Limited Waiver

SIGNET TESTING LABORATORIES, INC.,
a Delaware corporation
By:	/s/ Rita Armstrong
Name:	Rita Armstrong
Title:	Vice President and Treasurer
URS CONSTRUCTION SERVICES, INC.,
a Florida corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President and Chief Financial Officer
URS CORPORATION, a Nevada
corporation
By:	/s/ Judy L. Rodgers
Name:	Judy L. Rodgers
Title:	Vice President and Treasurer
URS CORPORATION GREAT LAKES,
a Michigan corporation
By:	/s/ Kent P. Ainsworth
Name:	Kent P. Ainsworth
Title:	Executive Vice President and Chief Financial Officer

Limited Waiver

URS CORPORATION–MARYLAND, a
Maryland corporation
By:	/s/ Judy L. Rodgers
Name:	Judy L. Rodgers
Title:	Vice President and Treasurer
URS CORPORATION–OHIO, an Ohio corporation
By:	/s/ Judy L. Rodgers
Name:	Judy L. Rodgers
Title:	Vice President and Treasurer
URS CORPORATION SOUTHERN, a
California corporation
By:	/s/ Judy L. Rodgers
Name:	Judy L. Rodgers
Title:	Vice President and Treasurer
URS GROUP, INC., a Delaware corporation
By:	/s/ Judy L. Rodgers
Name:	Judy L. Rodgers
Title:	Vice President and Assistant Treasurer

Limited Waiver

URS HOLDINGS, INC., a Delaware corporation
By:	/s/ Judy L. Rodgers
Name:	Judy L. Rodgers
Title:	Vice President and Treasurer
URS INTERNATIONAL INC., a Delaware
corporation
By:	/s/ Judy L. Rodgers
Name:	Judy L. Rodgers
Title:	Vice President and Treasurer
URS OPERATING SERVICES, INC.,
a Delaware corporation
By:	/s/ Peter J. Pedalino
Name:	Peter J. Pedalino
Title:	Vice President and Controller

Limited Waiver

Landmark II CDO Limited By: Aladdin Capital Management LLC, as manager, as a Lender
By:	/s/ Joseph Moroney Name: Joseph Moroney, CFA Title: Authorized Signatory
BNP PARIBAS, as a Lender
By:	/s/ Katherine Wolfe Name: Katherine Wolfe Title: Director
By:	/s/ Sandy Bertram Name: Sandy Bertram Title: Vice President
Bank Leumi USA, as a Lender
By:	/s/ Joung Hee Hong Name: Joung Hee Hong Title: Vice President
Bank of America, N.A., as a Lender
By:	/s/ Michael J. Landini Name: Michael J. Landini Title: Senior Vice President
Callidus Debt Partners CDO Fund I, Ltd. By: Its Collateral Manager, Callidus Capital Management, LLC, as a Lender
By:	/s/ Mavis Taintor Name: Mavis Taintor Title: Senior Managing Director

Callidus Debt Partners CDO Fund II, Ltd. By: Its Collateral Manager, Callidus Capital Management, LLC, as a Lender
By:	/s/ Mavis Taintor Name: Mavis Taintor Title: Senior Managing Director
Callidus Debt Partners CDO Fund III, Ltd. By: Its Collateral Manager, Callidus Capital Management, LLC, as a Lender
By:	/s/ Mavis Taintor Name: Mavis Taintor Title: Senior Managing Director
Denali Capital LLC, managing member of DC Funding Partners, portfolio manager for DENALI CAPITAL CLO I, LTD., or an affiliate, as a Lender
By:	/s/ John P. Thacker Name: John P. Thacker Title: Chief Credit Officer
Denali Capital LLC, managing member of DC Funding Partners, portfolio manager for DENALI CAPITAL CLO II, LTD., or an affiliate, as a Lender
By:	/s/ John P. Thacker Name: John P. Thacker Title: Chief Credit Officer

Denali Capital LLC, managing member of DC Funding Partners, portfolio manager for DENALI CAPITAL CLO III, LTD., or an affiliate, as a Lender
By:	/s/ John P. Thacker Name: John P. Thacker Title: Chief Credit Officer
ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG, as a Lender
By:	/s/ John Fay Name: John Fay Title: Director
By:	/s/ Bryan Lynch Name: Bryan Lynch Title: First Vice President
General Electric Capital Corporation, as a Lender
By:	/s/ Brian Schwinn Name: Brian Schwinn Title: Duly Authorized Signatory
Harris N.A., as a Lender
By:	/s/ Joann Holman Name: Joann Holman Title: Director
IKB Capital Corporation, as a Lender
By:	/s/ David Snyder Name: David Snyder Title: President

National City Bank, as a Lender
By:	/s/ Frank Byrne Name: Frank Byrne Title: AVP
NATIONWIDE MUTUAL INSURANCE CO., as a Lender
By:	/s/ Joseph P. Young Name: Joseph P. Young Title: Authorized Signatory
SCOTTSDALE INSURANCE CO., as a Lender
By:	/s/ Joseph P. Young Name: Joseph P. Young Title: Authorized Signatory
AMCO INSURANCE CO., as a Lender
By:	/s/ Joseph P. Young Name: Joseph P. Young Title: Authorized Signatory
The Norinchukin Bank, New York Branch, as a Lender
By:	/s/ Masanori Shoji Name: Masanori Shoji Title: Joint General Manager
North Fork Business Capital Corp., as a Lender
By:	/s/ Ron Walker Name: Ron Walker Title: VP

OAK HILL SECURITIES FUND, L.P.,
By: Oak Hill Securities GenPar, L.P. its General Partner
By: Oak Hill Securities MGP, Inc., its General Partner
By:	/s/ Scott D. Krase Name: Scott D. Krase Title: Vice President
OAK HILL SECURITIES FUND II, L.P.,
By: Oak Hill Securities GenPar II, L.P. its General Partner
By: Oak Hill Securities MGP II, Inc., its General Partner
By:	/s/ Scott D. Krase Name: Scott D. Krase Title: Vice President
OAK HILL CREDIT PARTNERS I, LIMITED
By: Oak Hill CLO Management I, LLC As Investment Manager
By:	/s/ Scott D. Krase Name: Scott D. Krase Title: Vice President
OAK HILL CREDIT PARTNERS II, LIMITED
By: Oak Hill CLO Management II, LLC As Investment Manager
By:	/s/ Scott D. Krase Name: Scott D. Krase Title: Vice President

Pacific CDO II, Ltd., as a Lender
By:	/s/ Phil Otero Name: Phil Otero Title: Senior Vice President
Pacific CDO III, Ltd., as a Lender
By:	/s/ Phil Otero Name: Phil Otero Title: Senior Vice President
PILGRIM CLO 1999-1 LTD. By: ING Investments, LLC As its investment manager
By:	/s/ Robert Wilson Name: Robert Wilson Title: Senior Vice President
ML CLO XII PILGRIM AMERICA (CAYMAN) LTD. By: ING Investments, LLC As its investment manager
By:	/s/ Robert Wilson Name: Robert Wilson Title: Senior Vice President
ML CLO XV PILGRIM AMERICA (CAYMAN) LTD. By: ING Investments, LLC As its investment manager
By:	/s/ Robert Wilson Name: Robert Wilson Title: Senior Vice President

ING SENIOR INCOME FUND By: ING Investment Management Co. As its investment manager
By:	/s/ Robert Wilson Name: Robert Wilson Title: Senior Vice President
PPM SHADOW CREEK FUNDING LLC as a Lender
By:	/s/ Meredith J. Koslick Name: Meredith J. Koslick Title: Assistant Vice President
PPM SPYGLASS FUNDING TRUST as a Lender
By:	/s/ Meredith J. Koslick Name: Meredith J. Koslick Title: Assistant Vice President
The Royal Bank of Scotland, as a Lender
By:	/s/ Curt Lueker Name: Curt Lueker Title: Director
Granite Ventures I Ltd, By: Stone Tower Debt Advisors as its Collateral Manager, as a Lender
By:	/s/ W. Anthony Edson Name: W. Anthony Edson Title: Authorized Signatory

Stone Tower CLO III Ltd, By: Stone Tower Debt Advisors as its Collateral Manager, as a Lender
By:	/s/ W. Anthony Edson Name: W. Anthony Edson Title: Authorized Signatory
STANWICH LOAN FUNDING LLC, as a Lender
By:	/s/ Meredith J. Koslick Name: Meredith J. Koslick Title: Assistant Vice President
Toronto Dominion (New York), LLC, as a Lender
By:	/s/ Masood Fikrec Name: Masood Fikrec Title: Authorized Signatory
Transamerica Business Capital Corporation, as a Lender
By:	/s/ Brian Schwinn Name: Brian Schwinn Title: Duly Authorized Signatory
Trumbull THC2 Loan Funding LLC, for itself or as agent for Trumbull THC2 CFP1 Loan Funding LLC, as a Lender
By:	/s/ Dominic Blea Name: Dominic Blea Title: As Attorney-in-Fact

Union Bank of California, N.A., as a Lender
By:	/s/ David Jackson Name: David Jackson Title: Vice President
Union Bank National Association, as a Lender
By:	/s/ David Jackson Name: David Jackson Title: Vice President
Wachovia Bank, N.A., as a Lender
By:	/s/ John G. Taylor Name: John G. Taylor Title: Vice President
Wells Fargo, as a Lender
By:	/s/ Marsha Poenisch Name: Marsh Poenisch Title: Vice President

EX-10.2

Exhibit 10.2

3,636,721 Shares

URS CORPORATION

COMMON STOCK, PAR VALUE $0.01 PER SHARE

UNDERWRITING AGREEMENT

June 8, 2005

June 8, 2005

Morgan Stanley & Co. Incorporated
Merrill Lynch, Pierce, Fenner & Smith
           Incorporated
c/o Morgan Stanley & Co. Incorporated
     1585 Broadway
     New York, New York 10036

Dear Sirs and Mesdames:

     URS Corporation, a Delaware corporation (the “Company”), proposes to issue and sell to the several Underwriters named in Schedule I hereto (the “Underwriters”) 3,636,721 shares of Common Stock, par value $0.01 per share, of the Company (the “Firm Shares”). The Company also proposes to issue and sell to the several Underwriters not more than an additional 363,672 shares of its Common Stock, par value $0.01 per share (the “Additional Shares”), if and to the extent that you, as Managers of the offering, shall have determined to exercise, on behalf of the Underwriters, the right to purchase such shares granted to the Underwriters in Section 2 hereof. The Firm Shares and the Additional Shares are hereinafter collectively referred to as the “Shares”. The shares of Common Stock, par value $0.01 per share, of the Company to be outstanding after giving effect to the sales contemplated hereby are hereinafter referred to as the “Common Stock”.

     The Company has filed with the Securities and Exchange Commission (the “Commission”) a registration statement on Form S-3 (No. 333-112216), including a prospectus, relating to the Shares and the offering thereof from time to time in accordance with Rule 415 of the rules and regulations of the Commission under the Securities Act (the “Securities Act Regulations”), and has filed with, or transmitted for filing to, or shall promptly hereafter file with or transmit for filing to, the Commission (i) a prospectus supplement (the “Prospectus Supplement”) specifically relating to the Shares pursuant to Rule 424 under the Securities Act of 1933, as amended (the “Securities Act”), and (ii) a related prospectus dated March 1, 2004 (the “Base Prospectus”). Such registration statement has been declared effective by the Commission. Such registration statement, as amended to the date hereof and including the abbreviated registration statement registering additional shares of Common Stock pursuant to Rule 462(b) under the Securities Act (the “Rule 462 Registration Statement”) filed by the Company on June 1, 2005, is referred to herein as the “Registration Statement”; and the Base Prospectus and the Prospectus Supplement, in the form first used to confirm sales of the Shares, are collectively referred to herein as the “Prospectus”; provided, however, that all references to the “Registration Statement” and the “Prospectus” shall also be deemed to include all documents incorporated therein by reference pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

     1. Representations and Warranties. The Company represents and warrants to and agrees with each of the Underwriters that:

1

     (a) The Registration Statement has become effective; no stop order suspending the effectiveness of the Registration Statement is in effect, and no proceedings for such purpose are pending before or threatened by the Commission.

     (b) (i) Each document, if any, filed or to be filed pursuant to the Exchange Act, and incorporated by reference in the Prospectus complied or will comply when so filed in all material respects with the Exchange Act and the applicable rules and regulations of the Commission thereunder, (ii) the Registration Statement, when it became effective and when the Company’s most recent Annual Report on Form 10-K/A was filed with the Commission, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable Securities Act Regulations and (iv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph do not apply to statements or omissions in the Registration Statement or the Prospectus based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein.

     (c) The Company has been duly incorporated, is validly existing as a corporation in good standing under the laws of the jurisdiction of its incorporation, has the corporate power and authority to own its property and to conduct its business as described in the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not have a material adverse effect on the Company and its subsidiaries, taken as a whole.

     (d) Each subsidiary of the Company has been duly incorporated or formed, is validly existing as a corporation in good standing under the laws of the jurisdiction of its incorporation or formation, has the corporate or limited liability company power and authority to own its property and to conduct its business as described in the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not have a material adverse effect on the Company and its subsidiaries, taken as a whole; all of the issued shares of capital stock of each subsidiary of the Company that is a corporation and all of the issued limited liability company interests of each subsidiary that is a limited liability company have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly or beneficially by the Company or through wholly owned subsidiaries of the Company, free and clear of all liens, encumbrances, equities or claims (except in each case as disclosed in the Prospectus).

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     (e) This Agreement has been duly authorized, executed and delivered by the Company.

     (f) The authorized capital stock of the Company conforms as to legal matters to the description thereof contained in the Prospectus.

     (g) The shares of Common Stock outstanding prior to the issuance of the Shares have been duly authorized and are validly issued, fully paid and non-assessable.

     (h) The Shares have been duly authorized and, when issued and delivered in accordance with the terms of this Agreement, will be validly issued, fully paid and non-assessable, and the issuance of such Shares will not be subject to any preemptive or similar rights.

     (i) The execution and delivery by the Company of, and the performance by the Company of its obligations under, this Agreement will not contravene any provision of applicable law or the certificate of incorporation or by-laws of the Company or any agreement or other instrument binding upon the Company or any of its subsidiaries that is material to the Company and its subsidiaries, taken as a whole, or any judgment, order or decree of any governmental body, agency or court having jurisdiction over the Company or any subsidiary, and no consent, approval, authorization or order of, or qualification with, any governmental body or agency is required for the performance by the Company of its obligations under this Agreement, except such as may be required by the securities or Blue Sky laws of the various states in connection with the offer and sale of the Shares.

     (j) There has not occurred any material adverse change, or any development involving a prospective material adverse change, in the condition, financial or otherwise, or in the earnings, business or operations of the Company and its subsidiaries, taken as a whole, from that set forth in the Prospectus (exclusive of any amendments or supplements thereto subsequent to the date of this Agreement).

     (k) There are no legal or governmental proceedings pending or threatened to which the Company or any of its subsidiaries is a party or to which any of the properties of the Company or any of its subsidiaries is subject that are required to be described in the Registration Statement or the Prospectus and are not so described or any statutes, regulations, contracts or other documents that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits to the Registration Statement that are not described or filed as required or described in a document incorporated by reference into the Registration Statement.

     (l) Each preliminary prospectus or preliminary prospectus supplement filed as part of the Registration Statement as originally filed or as part of any amendment thereto, or filed pursuant to Rule 424 under the Securities Act, complied when so filed in all material respects with the Securities Act and the Securities Act Regulations.

     (m) The Company is not, and after giving effect to the offering and sale of the Shares and the application of the proceeds thereof as described in the Prospectus will not

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be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

     (n) Except as disclosed in the Prospectus, the Company and its subsidiaries (i) are in compliance with any and all applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”), (ii) have received all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses and (iii) are in compliance with all terms and conditions of any such permit, license or approval, except where such noncompliance with Environmental Laws, failure to receive required permits, licenses or other approvals or failure to comply with the terms and conditions of such permits, licenses or approvals would not, singly or in the aggregate, reasonably be expected to have a material adverse effect on the Company and its subsidiaries, taken as a whole.

     (o) Except as disclosed in the Prospectus, there are no costs or liabilities associated with Environmental Laws (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws or any permit, license or approval, any related constraints on operating activities and any potential liabilities to third parties) which would, singly or in the aggregate, reasonably be expected to have a material adverse effect on the Company and its subsidiaries, taken as a whole.

     (p) Except for the Registration Rights Agreement dated as of August 22, 2002, by and among the Company, Blum Strategic Partners, L.P., Blum Capital Partners, L.P., Carlyle-EG&G, L.L.C. and EG&G Technical Services Holdings, L.L.C., there are no contracts, agreements or understandings between the Company and any person granting such person the right to require the Company to file a registration statement under the Securities Act with respect to any securities of the Company or to require the Company to include such securities with the Shares registered pursuant to the Registration Statement.

     (q) The Company and each of its subsidiaries (i) have all necessary consents, authorizations, approvals, orders, certificates and permits of and from, and have made all declarations and filings with, all federal, state, local and other governmental, administrative or regulatory authorities, all self-regulatory organizations and all courts and other tribunals, to own, lease, license and use their respective properties and assets and to conduct their respective businesses in the manner described in the Prospectus, except to the extent that the failure to obtain such consents, authorizations, approvals, orders, certificates and permits or make such declarations and filings would not have a material adverse effect on the Company and its subsidiaries, taken as a whole, and (ii) have not received any notice of proceedings relating to revocation or modification of any such consent, authorization, approval, order, certificate or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a material adverse effect on the Company and its subsidiaries, taken as a whole, except as described in the Prospectus.

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     (r) No material labor dispute exists with the employees of the Company or any of its subsidiaries, except as described in or contemplated by the Prospectus, or, to the Company’s knowledge, is imminent; and the Company is not aware of any existing, threatened or imminent labor disturbance by the employees of any of its principal suppliers, manufacturers or contractors that could have a material adverse effect on the Company and its subsidiaries, taken as a whole.

     (s) The Company and its subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them which is material to their respective businesses, in each case free and clear of all liens, encumbrances and defects, except such as (i) are described in the Prospectus, (ii) do not materially affect the value of such property or (iii) do not interfere with the use made and proposed to be made of such property by them; and any real property and buildings held under lease by them are held under valid, subsisting and enforceable leases with such exceptions as are not material and do not materially interfere with the use made and proposed to be made of such property and buildings by them, in each case except as described in the Prospectus.

     (t) Each of the Company and its subsidiaries own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, know-how, patents, copyrights, confidential information and other intellectual property (collectively, “intellectual property rights”) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted rights of others with respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries would individually or in the aggregate reasonably be expected to have a material adverse effect on the Company and its subsidiaries, taken as a whole.

     (u) URS Holdings, Inc., a Delaware corporation (“URS Holdings”); EG&G Technical Services, a Delaware corporation (“EG&G”); URS Corporation, a Nevada corporation (“URS Nevada”); and URS Corporation – New York, a New York corporation (“URS New York”) are the only significant subsidiaries of the Company (calculated on a basis consistent with the term “significant subsidiary” as defined under Regulation S-X promulgated under the Securities Act for the period ended October 31, 2004).

     (v) The financial statements and related notes included in the Registration Statement and Prospectus present fairly the financial position of the Company and its consolidated subsidiaries as of the dates shown and their results of operations and cash flows for the periods shown, and such financial statements and the notes thereto have been prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis except as disclosed therein.

     (w) The Company and its subsidiaries maintain systems of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with

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generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

     (x) There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply with Section 402 (related to loans) and Sections 302 and 906 (related to certifications) of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) and the rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley Regulations”), nor has there been any failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply with any other provision of the Sarbanes-Oxley Act or the Sarbanes-Oxley Regulations.

     2. Agreements to Sell and Purchase. The Company hereby agrees to sell to the several Underwriters, and each Underwriter, upon the basis of the representations and warranties herein contained, but subject to the conditions hereinafter stated, agrees, severally and not jointly, to purchase from the Company at $32.775 a share (the “Purchase Price”) the number of Firm Shares set forth in Schedule I hereto opposite its name.

     On the basis of the representations and warranties contained in this Agreement, and subject to its terms and conditions, the Company agrees to sell to the Underwriters the Additional Shares, and the Underwriters shall have the right to purchase, severally and not jointly, up to 363,672 Additional Shares at the Purchase Price. You may exercise this right on behalf of the Underwriters in whole or from time to time in part by giving written notice of each election to exercise the option not later than 30 days after the date of this Agreement. Any exercise notice shall specify the number of Additional Shares to be purchased by the Underwriters and the date on which such shares are to be purchased. Each purchase date must be at least two business days after the written notice is given and may not be earlier than the closing date for the Firm Shares nor later than ten business days after the date of such notice. Additional Shares may be purchased as provided in Section 4 hereof solely for the purpose of covering over-allotments made in connection with the offering of the Firm Shares. On each day, if any, that Additional Shares are to be purchased (an “Option Closing Date”), each Underwriter agrees, severally and not jointly, to purchase the number of Additional Shares (subject to such adjustments to eliminate fractional shares as you may determine) that bears the same proportion to the total number of Additional Shares to be purchased on such Option Closing Date as the number of Firm Shares set forth in Schedule I hereto opposite the name of such Underwriter bears to the total number of Firm Shares.

     The Company hereby agrees that, without the prior written consent of Morgan Stanley & Co. Incorporated and Merrill Lynch, Pierce, Fenner & Smith Incorporated on behalf of the Underwriters, it will not, during the period ending 90 days after the date of the Prospectus, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock or file any registration statement with the

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Commission relating to the offering of any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise.

     The restrictions contained in the preceding paragraph shall not apply to (A) the Shares to be sold hereunder; (B) the issuance by the Company of shares of Common Stock upon the exercise of options granted under the Company’s employee benefit plans that are outstanding as of the date of this Agreement; (C) the grant by the Company of options to purchase shares of Common Stock under the Company’s employee benefit plans as in effect on the date hereof, so long as such plans are described in the Registration Statement and the Prospectus or in a document incorporated therein by reference; or (D) the issuance by the Company of shares of Common Stock under the Company’s employee stock purchase plan as in effect on the date hereof, so long as such plan is described in the Registration Statement and the Prospectus or in a document incorporated therein by reference.

     3. Terms of Public Offering. The Company is advised by you that the Underwriters propose to make a public offering of their respective portions of the Shares as soon after this Agreement has become effective as in your judgment is advisable. The Company is further advised by you that the Shares are to be offered to the public initially at $34.50 a share (the “Public Offering Price”) and to certain dealers selected by you at a price that represents a concession not in excess of $1.12 a share under the Public Offering Price.

     4. Payment and Delivery. Payment for the Firm Shares shall be made to the Company in Federal or other funds immediately available in New York City against delivery of such Firm Shares for the respective accounts of the several Underwriters at 10:00 a.m., New York City time, on June 14, 2005, or at such other time on the same or such other date, not later than June 21, 2005, as shall be designated in writing by you. The time and date of such payment are hereinafter referred to as the “Closing Date”.

     Payment for any Additional Shares shall be made to the Company in Federal or other funds immediately available in New York City against delivery of such Additional Shares for the respective accounts of the several Underwriters at 10:00 a.m., New York City time, on the date specified in the corresponding notice described in Section 2 or at such other time on the same or on such other date, in any event not later than July 22, 2005, as shall be designated in writing by you.

     The Firm Shares and Additional Shares shall be registered in such names and in such denominations as you shall request in writing not later than one full business day prior to the Closing Date or the applicable Option Closing Date, as the case may be. The Firm Shares and Additional Shares shall be delivered to you on the Closing Date or an Option Closing Date, as the case may be, for the respective accounts of the several Underwriters, with any transfer taxes payable in connection with the transfer of the Shares to the Underwriters duly paid, against payment of the Purchase Price therefor.

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     5. Conditions to the Underwriters’ Obligations. The obligations of the Company to sell the Shares to the Underwriters and the several obligations of the Underwriters to purchase and pay for the Shares on the Closing Date are subject to the condition that no stop order suspending the effectiveness of the Registration Statement shall have been issued under the Securities Act or proceedings therefor initiated or threatened by the Commission.

     The several obligations of the Underwriters are subject to the following further conditions:

     (a) Subsequent to the execution and delivery of this Agreement and prior to the Closing Date:

     (i) there shall not have occurred any downgrading, nor shall any notice have been given of any intended or potential downgrading or of any review for a possible change that does not indicate the direction of the possible change, in the rating accorded any of the Company’s securities by any “nationally recognized statistical rating organization,” as such term is defined for purposes of Rule 436(g)(2) under the Securities Act; and

     (ii) there shall not have occurred any change, or any development involving a prospective change, in the condition, financial or otherwise, or in the earnings, business or operations of the Company and its subsidiaries, taken as a whole, from that set forth in the Prospectus (exclusive of any amendments or supplements thereto subsequent to the date of this Agreement) that, in your judgment, is material and adverse and that makes it, in your judgment, impracticable to market the Shares on the terms and in the manner contemplated in the Prospectus.

     (b) The Underwriters shall have received on the Closing Date a certificate, dated the Closing Date and signed by an executive officer of the Company, to the effect set forth in Section 5(a)(i) above and to the effect that the representations and warranties of the Company contained in this Agreement are true and correct as of the Closing Date and that the Company has complied with all of the agreements and satisfied all of the conditions on its part to be performed or satisfied hereunder on or before the Closing Date.

     The officer signing and delivering such certificate may rely upon the best of his knowledge as to proceedings threatened.

     (c) The Underwriters shall have received on the Closing Date an opinion of Cooley Godward LLP, outside counsel for the Company, dated the Closing Date, to the effect that:

     (i) the Company has been duly incorporated, is validly existing as a corporation in good standing under the laws of the State of Delaware, has the corporate power and authority to own its property and to conduct its business as described in the Prospectus and, to such counsel’s knowledge, is duly qualified to transact business and is in good standing in each

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state of the United States in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not have a material adverse effect on the Company and its subsidiaries, taken as a whole;

     (ii) each of URS Holdings and EG&G (each, a “Covered Subsidiary” and together, the “Covered Subsidiaries”), has been duly incorporated, is validly existing as a corporation in good standing under the laws of the jurisdiction of its incorporation, and has the corporate power and authority to own its property and to conduct its business as described in the Prospectus;

     (iii) the authorized capital stock of the Company conforms as to legal matters to the description thereof contained in the Prospectus under the caption “Description of Capital Stock” and in the Form 8-A dated January 30, 1984 under the caption “Description of Capital Stock” (which incorporates by reference the description of the Common Stock contained in the Registration Statement on Form S-1 filed on February 28, 1983);

     (iv) the outstanding shares of Common Stock have been duly authorized and are validly issued, fully paid and non-assessable;

     (v) the Shares have been duly authorized and, when issued and delivered in accordance with the terms of this Agreement, will be validly issued, fully paid and non-assessable, and the issuance of such Shares will not be subject to any preemptive rights, or to such counsel’s knowledge, similar rights;

     (vi) this Agreement has been duly authorized, executed and delivered by the Company;

     (vii) the execution and delivery by the Company of, and the performance by the Company of its obligations under, this Agreement will not contravene any provision of applicable law (except for Section 8 relating to indemnity and contribution as to which such counsel need not express any opinion) or the certificate of incorporation or by-laws of the Company or any agreement or other instrument binding upon the Company or any of its subsidiaries that is (A) filed as an exhibit to the Registration Statement or any document incorporated by reference therein, (B) incorporated by reference in the Registration Statement or (C) which the Company has advised such counsel will be filed as an exhibit to the Company’s next quarterly report on Form 10-Q or on a Form 8-K and was executed by the Company prior to the date of such opinion, or to the best of such counsel’s knowledge, any judgment, order or decree of any governmental body, agency or court having jurisdiction over the Company or any of its subsidiaries, and no consent, approval, authorization or order of, or qualification with, any governmental body or agency is required for the performance by the Company of its obligations under this Agreement, except such as have been made or obtained or except such as may be required by the securities

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or Blue Sky laws of the various states in connection with the offer and sale of the Shares;

     (viii) the statements in (A) the Prospectus under the captions “Description of Capital Stock” and “Underwriters” and (B) the Registration Statement in Item 15, in each case insofar as such statements constitute matters of law, summaries of legal matters, provisions of the Company’s certificate of incorporation or by-laws or other equivalent corporate governance documents or legal proceedings, or legal conclusions, have been reviewed by such counsel and fairly present, to the extent required by the Securities Act and the Securities Act Regulations, the matters referred to therein;

     (ix) such counsel does not know of any legal or governmental proceedings pending or overtly threatened to which the Company or any of its subsidiaries is a party or to which any of the properties of the Company or any of its subsidiaries is subject that are required to be described in the Registration Statement or the Prospectus and are not so described or of any statutes, regulations, contracts or other documents that are required to be described in the Registration Statement or the Prospectus that are not so described or described in documents incorporated by reference in the Registration Statement as required;

     (x) the Company is not, and after giving effect to the offering and sale of the Shares and the application of the proceeds thereof as described in the Prospectus will not be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended; and

     (xi) to such counsel’s knowledge, (A) each document filed pursuant to the Exchange Act and incorporated by reference in the Registration Statement or the Prospectus (except for the financial statements and financial schedules and other financial and statistical data derived therefrom, as to which such counsel need not express any belief) complied as to form when filed in all material respects with the requirements of the Exchange Act, and the applicable rules and regulations of the Commission thereunder and (B) the Registration Statement or the Prospectus (except for the financial statements and financial schedules and other financial and statistical data derived therefrom, as to which such counsel need not express any belief) complied as to form in all material respects with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. In addition, such counsel shall confirm that such counsel has participated in conferences with officers and other representatives of the Company and the independent public accountants of the Company and representatives of the Underwriters at which conferences the contents of the Registration Statement and Prospectus were discussed and, although such counsel is not passing upon and does not assume responsibility for the accuracy, completeness or fairness of the statements contained in the Registration Statements or Prospectus (except as and to the extent stated in subparagraphs ((iii) and (viii) above), on the basis of the foregoing, nothing has come to the attention of such counsel that causes such counsel to believe that the

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Registration Statement or the prospectus included therein (except for the financial statements and financial schedules and other financial and statistical data derived therefrom, as to which such counsel need not express any belief) at the time the Registration Statement became effective contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading or the Prospectus (except for the financial statements and financial schedules and other financial and statistical data derived therefrom, as to which such counsel need not express any opinion) as of its date or as of the date of such opinion contained or contains an untrue statement of a material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

     (d) The Underwriters shall have received on the Closing Date an opinion of Woodburn and Wedge, special Nevada counsel for the Company, dated the Closing Date, to the effect that:

     (i) URS Nevada has been duly incorporated, is validly existing as a corporation in good standing under the laws of the State of Nevada, has the corporate power and authority to own its property and to conduct its business as described in the Prospectus.

     (e) The Underwriters shall have received on the Closing Date an opinion of Skadden, Arps, Slate, Meagher & Flom LLP, special New York counsel for the Company, dated the Closing Date, to the effect that:

     (i) URS New York is an existing corporation under the laws of the State of New York. URS New York has the status of qualified to do business in Massachusetts and in good standing in New Jersey.

     (f) The Underwriters shall have received on the Closing Date an opinion of Sidley Austin Brown & Wood LLP, counsel for the Underwriters, dated the Closing Date, covering the matters referred to in Sections 5(c)(v), 5(c)(vi), 5(c)(viii) (but only as to the statements in the Prospectus under “Description of Capital Stock” and “Underwriters”) and Section 5(c)(xi) (other than clause (A)) above.

     The opinions of Cooley Godward LLP, Woodburn and Wedge LLP and Skadden Arps, Slate, Meagher & Flom LLP described in Sections 5(c), 5(d) and 5(e) above shall be rendered to the Underwriters at the request of the Company and shall so state therein.

     (g) The Underwriters shall have received, on each of the date hereof and the Closing Date, a letter dated the date hereof or the Closing Date, as the case may be, in form and substance satisfactory to the Underwriters, from PricewaterhouseCoopers LLP, independent registered public accounting firm, containing statements and information of the type ordinarily included in accountants’ “comfort letters” to underwriters with respect to the financial statements and certain financial information contained in, or incorporated

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by reference into, the Registration Statement and the Prospectus; provided that the letter delivered on the Closing Date shall use a “cut-off date” not earlier than the date hereof.

     (h) The “lock-up” agreements, each substantially in the form of Exhibit A hereto, between you and certain stockholders, officers and directors of the Company relating to sales and certain other dispositions of shares of Common Stock or certain other securities, delivered to you on or before the date hereof, shall be in full force and effect on the Closing Date.

     (i) The Underwriters shall have received on the Closing Date a certificate, dated the Closing Date and signed by the chief financial officer of the Company, certifying as to the preparation, completeness and accuracy of certain financial and statistical data relating to the Company included in the Prospectus.

     The several obligations of the Underwriters to purchase Additional Shares hereunder are subject to the delivery to you on the applicable Option Closing Date of such documents as you may reasonably request with respect to the good standing of the Company, the due authorization and issuance of the Additional Shares to be sold on such Option Closing Date and other matters related to the issuance of such Additional Shares.

     6. Covenants of the Company. In further consideration of the agreements of the Underwriters herein contained, the Company covenants with each Underwriter as follows:

     (a) To furnish to you, without charge, four signed copies of the Registration Statement (including exhibits thereto and documents incorporated by reference) and for delivery to each other Underwriter a conformed copy of the Registration Statement (without exhibits thereto but including documents incorporated by reference) and to furnish to you in New York City, without charge, prior to 10:00 a.m. New York City time on the business day next succeeding the date of this Agreement and during the period mentioned in Section 6(c) below, as many copies of the Prospectus, any documents incorporated by reference, and any supplements and amendments thereto or to the Registration Statement as you may reasonably request. The terms “supplement” and “amendment” or “amend” as used in this Agreement shall include all documents subsequently filed by the Company with the Commission pursuant to the Exchange Act that are deemed to be incorporated by reference in the Prospectus.

     (b) Before amending or supplementing the Registration Statement or the Prospectus, to furnish to you a copy of each such proposed amendment or supplement and not to file any such proposed amendment or supplement to which you reasonably object, and to file with the Commission within the applicable period specified in Rule 424(b) under the Securities Act any prospectus or prospectus supplement required to be filed pursuant to such Rule.

     (c) If, during such period after the first date of the public offering of the Shares as in the opinion of counsel for the Underwriters the Prospectus is required by law to be delivered in connection with sales by an Underwriter or dealer, any event shall occur or condition exist as a result of which it is necessary to amend or supplement the

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Prospectus in order to make the statements therein, in the light of the circumstances when the Prospectus is delivered to a purchaser, not misleading, or if, in the opinion of counsel for the Underwriters, it is necessary to amend or supplement the Prospectus to comply with applicable law, forthwith to prepare, file with the Commission and furnish, at its own expense, to the Underwriters and to the dealers (whose names and addresses you will furnish to the Company) to which Shares may have been sold by you on behalf of the Underwriters and to any other dealers upon request, either amendments or supplements to the Prospectus so that the statements in the Prospectus as so amended or supplemented will not, in the light of the circumstances when the Prospectus is delivered to a purchaser, be misleading or so that the Prospectus, as amended or supplemented, will comply with law.

     (d) To endeavor to qualify the Shares for offer and sale under the securities or Blue Sky laws of such jurisdictions as you shall reasonably request.

     (e) To make generally available to the Company’s security holders and to you as soon as practicable an earning statement covering the twelve-month period ending June 30, 2006 that satisfies the provisions of Section 11(a) of the Securities Act and the Securities Act Regulations.

     7. Expenses. Whether or not the transactions contemplated in this Agreement are consummated or this Agreement is terminated, the Company agrees to pay or cause to be paid all expenses incident to the performance of its obligations under this Agreement, including: (i) the fees, disbursements and expenses of the Company’s counsel and the Company’s accountants in connection with the registration and delivery of the Shares under the Securities Act and all other fees or expenses in connection with the preparation and filing of the Registration Statement, any preliminary prospectus, the Prospectus and amendments and supplements to any of the foregoing, including all printing costs associated therewith, and the mailing and delivering of copies thereof to the Underwriters and dealers, in the quantities hereinabove specified, (ii) all costs and expenses related to the transfer and delivery of the Shares to the Underwriters, including any transfer or other taxes payable thereon, (iii) the cost of printing or producing any Blue Sky or Legal Investment memorandum in connection with the offer and sale of the Shares under state securities laws and all expenses in connection with the qualification of the Shares for offer and sale under state securities laws as provided in Section 6(d) hereof, including filing fees and the reasonable fees and disbursements of counsel for the Underwriters in connection with such qualification and in connection with the Blue Sky or Legal Investment memorandum, (iv) all filing fees and the reasonable fees and disbursements of counsel to the Underwriters incurred in connection with the review and qualification of the offering of the Shares by the National Association of Securities Dealers, Inc., (v) all costs and expenses incident to listing the Shares on the NYSE and the Pacific Exchange, (vi) the cost of printing certificates representing the Shares, (vii) the costs and charges of any transfer agent, registrar or depositary, (viii) the costs and expenses of the Company relating to investor presentations on any “road show” undertaken in connection with the marketing of the offering of the Shares, including, without limitation, expenses associated with the production of road show slides and graphics, fees and expenses of any consultants engaged in connection with the road show presentations with the prior approval of the Company, travel and lodging expenses of the representatives and officers of the Company and any such consultants, and the cost of any aircraft chartered in connection with

13

the road show, (ix) the document production charges and expenses associated with printing this Agreement and (x) all other costs and expenses incident to the performance of the obligations of the Company hereunder for which provision is not otherwise made in this Section. It is understood, however, that except as provided in this Section, Section 8 entitled “Indemnity and Contribution”, and the last paragraph of Section 10 below, the Underwriters will pay all of their costs and expenses, including fees and disbursements of their counsel, stock transfer taxes payable on resale of any of the Shares by them and any advertising expenses connected with any offers they may make.

     8. Indemnity and Contribution. (a) The Company agrees to indemnify and hold harmless each Underwriter, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus or preliminary prospectus supplement or the Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein; provided, however, that the foregoing indemnity agreement with respect to any preliminary prospectus or preliminary prospectus supplement shall not inure to the benefit of any Underwriter, or any person controlling such Underwriter, if a copy of the Prospectus (as then amended or supplemented if the Company shall have furnished any amendments or supplements thereto) was not sent or given by or on behalf of such Underwriter to the person asserting any such losses, claims, damages or liabilities, if required by law so to have been delivered, at or prior to the written confirmation of the sale of the Shares to such person, and if the Prospectus (as so amended or supplemented) would have cured the defect giving rise to such losses, claims, damages or liabilities, unless such failure is the result of noncompliance by the Company with Section 6(a) hereof.

     (b) (b) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, the directors of the Company, the officers of the Company who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus or preliminary prospectus supplement or the Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such

14

Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement, any preliminary prospectus or preliminary prospectus supplement, the Prospectus or any amendments or supplements thereto.

     (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 8(a) or 8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party, upon request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by Morgan Stanley & Co. Incorporated and Merrill Lynch, Pierce, Fenner & Smith Incorporated in the case of parties indemnified pursuant to Section 8(a), and by the Company, in the case of parties indemnified pursuant to Section 8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (1) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and has not been objected to by such indemnifying party within such 30 day period and (2) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding.

     (d) To the extent the indemnification provided for in Section 8(a) or 8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such

15

proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters on the other hand from the offering of the Shares or (ii) if the allocation provided by clause 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause 8(d)(i) above but also the relative fault of the Company on the one hand and of the Underwriters on the other hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Underwriters on the other hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the net proceeds from the offering of the Shares (before deducting expenses) received by the Company and the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the cover of the Prospectus Supplement, bear to the aggregate Public Offering Price of the Shares. The relative fault of the Company on the one hand and the Underwriters on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by the Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Underwriters’ respective obligations to contribute pursuant to this Section 8 are several in proportion to the respective number of Shares they have purchased hereunder, and not joint.

     (e) The Company and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

     (f) The indemnity and contribution provisions contained in this Section 8 and the representations, warranties and other statements of the Company contained in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Underwriter, any person controlling any Underwriter or any affiliate of any Underwriter or by or on behalf of the Company, its officers or directors or any person controlling the Company and (iii) acceptance of and payment for any of the Shares.

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     9. Termination. The Underwriters may terminate this Agreement by notice given by you to the Company, if after the execution and delivery of this Agreement and prior to the Closing Date (i) trading generally shall have been suspended or materially limited on, or by, as the case may be, any of the New York Stock Exchange, the American Stock Exchange, the Nasdaq National Market, the Chicago Board of Options Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade or the Pacific Exchange, (ii) trading of any securities of the Company shall have been suspended on any exchange or in any over-the-counter market, (iii) a material disruption in securities settlement, payment or clearance services in the United States shall have occurred, (iv) any moratorium on commercial banking activities shall have been declared by Federal or New York State authorities or (v) there shall have occurred any outbreak or escalation of hostilities, or any change in financial markets, currency exchange rates or controls or any calamity or crisis that, in your judgment, is material and adverse and which, singly or together with any other event specified in this clause (v), makes it, in your judgment, impracticable or inadvisable to proceed with the offer, sale or delivery of the Shares on the terms and in the manner contemplated in the Prospectus.

     10. Effectiveness; Defaulting Underwriters. This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.

     If, on the Closing Date or an Option Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to purchase Shares that it has or they have agreed to purchase hereunder on such date, and the aggregate number of Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase is not more than one-tenth of the aggregate number of the Shares to be purchased on such date, the other Underwriters shall be obligated severally in the proportions that the number of Firm Shares set forth opposite their respective names in Schedule I bears to the aggregate number of Firm Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as you may specify, to purchase the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date; provided that in no event shall the number of Shares that any Underwriter has agreed to purchase pursuant to this Agreement be increased pursuant to this Section 10 by an amount in excess of one-ninth of such number of Shares without the written consent of such Underwriter. If, on the Closing Date, any Underwriter or Underwriters shall fail or refuse to purchase Firm Shares and the aggregate number of Firm Shares with respect to which such default occurs is more than one-tenth of the aggregate number of Firm Shares to be purchased, and arrangements satisfactory to you and the Company for the purchase of such Firm Shares are not made within 36 hours after such default, this Agreement shall terminate without liability on the part of any non-defaulting Underwriter or the Company. In any such case either you or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days, in order that the required changes, if any, in the Registration Statement and in the Prospectus or in any other documents or arrangements may be effected. If, on an Option Closing Date, any Underwriter or Underwriters shall fail or refuse to purchase Additional Shares and the aggregate number of Additional Shares with respect to which such default occurs is more than one-tenth of the aggregate number of Additional Shares to be purchased on such Option Closing Date, the non-defaulting Underwriters shall have the option to (i) terminate their obligation hereunder to purchase the Additional Shares to be sold on such Option Closing Date or (ii) purchase not less than the number of Additional Shares that such non-defaulting Underwriters would have been obligated to purchase in the absence of such

17

default. Any action taken under this paragraph shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

     If this Agreement shall be terminated by the Underwriters, or any of them, because of any failure or refusal on the part of the Company to comply with the terms or to fulfill any of the conditions of this Agreement, or if for any reason the Company shall be unable to perform its obligations under this Agreement, the Company will reimburse the Underwriters or such Underwriters as have so terminated this Agreement with respect to themselves, severally, for all out-of-pocket expenses (including the fees and disbursements of their counsel) reasonably incurred by such Underwriters in connection with this Agreement or the offering contemplated hereunder.

     11. Counterparts. This Agreement may be signed in two or more counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

     12. Applicable Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York.

     13. Headings. The headings of the sections of this Agreement have been inserted for convenience of reference only and shall not be deemed a part of this Agreement.

[SIGNATURE PAGE FOLLOWS]

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Very truly yours,
URS CORPORATION
By:	/s/ Kent P. Ainsworth
	Name:	Kent P. Ainsworth
	Title:	Executive Vice President and  Chief Financial Officer

Accepted as of the date hereof

Morgan Stanley & Co. Incorporated

By:	/s/ Bryan Andrzejewski
	Name:  Bryan Andrzejewski
	Title:    Executive Director

Merrill Lynch, Pierce, Fenner & Smith
                       Incorporated

By:	/s/ Leonard Chung
	Authorized Signatory

Acting severally on behalf of themselves and

the several Underwriters named in

Schedule I hereto.

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SCHEDULE I

	Number of Firm
	Shares To Be
Underwriters	Purchased
Morgan Stanley & Co. Incorporated		1,181,934
Merrill Lynch, Pierce, Fenner & Smith Incorporated		1,181,934
Credit Suisse First Boston LLC		360,763
Lehman Brothers Inc.		360,763
UBS Securities LLC		360,763
D.A. Davidson & Co.		95,282
Morgan Joseph & Co. Inc.		95,282
Total		3,636,721

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EXHIBIT A

[FORM OF LOCK-UP LETTER]

June l, 2005

Morgan Stanley & Co. Incorporated
Merrill Lynch, Pierce, Fenner & Smith
          Incorporated
c/o Morgan Stanley & Co. Incorporated
     1585 Broadway
     New York, NY 10036

Dear Sirs and Mesdames:

     The undersigned understands that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) propose to enter into an Underwriting Agreement (the “Underwriting Agreement”) with URS Corporation, a Delaware corporation (the “Company”), providing for the public offering (the “Public Offering”) by the several Underwriters, including Morgan Stanley and Merrill Lynch (the “Underwriters”), of approximately l shares (the “Shares”) of the common stock, par value $0.01 per share, of the Company (the “Common Stock”).

     To induce the Underwriters that may participate in the Public Offering to continue their efforts in connection with the Public Offering, the undersigned hereby agrees that, without the prior written consent of Morgan Stanley and Merrill Lynch on behalf of the Underwriters, it will not, during the period commencing on the date hereof and ending the earlier of (x) 90 days after the date of the final prospectus relating to the Public Offering (the “Prospectus”), and (y) if the Underwriting Agreement has not been executed by the parties thereto by July 31, 2005, July 31, 2005, (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, or (2) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing sentence shall not apply to (a) the sale of any Shares to the Underwriters pursuant to the Underwriting Agreement; (b) transactions relating to shares of Common Stock or other securities acquired in open market transactions after the completion of the offering of the Shares; (c) transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock as a bona fide gift or gifts; (d) transfers

A-1

or distributions of shares of Common Stock, or any security convertible into or exercisable or exchangeable for Common Stock, to affiliates (as defined in Rule 405 under the Securities Act); (e) transfers to the Company of shares of Common Stock to pay the exercise price of stock options granted to the undersigned under the Company’s employee stock option plans (provided that the shares so transferred are not sold or otherwise disposed of by the Company) and transfers of shares of Common Stock to the Company so long as the proceeds from such transfers are applied solely to pay withholding taxes due with respect to the exercise by the undersigned of any such stock options or with respect to the vesting of restricted stock granted to the undersigned under the Company’s restricted stock plan; and (f) transfers by the undersigned or its permitted distributee or transferee of Common Stock or securities convertible into or exercisable or exchangeable for Common Stock to a family member of the undersigned or of such distributee or transferee or a trust created for the benefit of the undersigned or such distributee or transferee or a family member of the undersigned or such distributee or transferee; provided that in the case of any gift, transfer or distribution referred to in clause (c), (d) or (f) above, such donee, transferee or distributee shall execute and deliver to Morgan Stanley and Merrill Lynch, prior to or contemporaneously with such gift, transfer or distribution, an agreement to be bound by the restrictions set forth herein. In addition, the undersigned agrees that, without the prior written consent of Morgan Stanley and Merrill Lynch on behalf of the Underwriters, it will not, during the period commencing on the date hereof and ending 90 days after the date of the Prospectus, make any demand for or exercise any right with respect to, the registration of any shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against the transfer of the undersigned’s shares of Common Stock except in compliance with the foregoing restrictions.

     The undersigned understands that the Company and the Underwriters are relying upon this Lock-Up Agreement in proceeding toward consummation of the Public Offering. The undersigned further understands that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned’s heirs, legal representatives, successors and assigns.

     Whether or not the Public Offering actually occurs depends on a number of factors, including market conditions. Any Public Offering will only be made pursuant to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the Underwriters.

Very truly yours,

                                                                                
(Name)

                                                                                
(Address)

A-2

EX-99.1

Contacts:
URS Corporation	Citigate Sard Verbinnen
Kent P. Ainsworth	Hugh Burns/Jamie Tully
Executive Vice President	(212) 687-8080
& Chief Financial Officer
(415) 774-2700

URS CORPORATION ANNOUNCES PRICING OF OFFERING
OF 3,636,721 SHARES OF COMMON STOCK

Proceeds to Be Used for Repurchase of Outstanding 11¹/2% Notes

     SAN FRANCISCO, CA – June 9, 2005 – URS Corporation (NYSE: URS) announced that the offering price for the public offering of 3,636,721 shares of its common stock has been set at $34.50 per share for gross proceeds before expenses of $125.5 million. The Company previously announced on June 1, 2005 that it had commenced a tender offer to purchase, for cash, any and all of its outstanding $130 million aggregate principal amount of 11¹/2% Senior Notes Due 2009 (the “11¹/2% Notes”). The Company intends to use all of the net proceeds from this offering, along with cash and borrowings, as necessary, to purchase, for cash, any and all of its 11¹/2% Notes that are validly tendered and accepted for purchase.

     The offering was led by Morgan Stanley and Merrill Lynch & Co. as joint book-running managers. Credit Suisse First Boston, Lehman Brothers, UBS Investment Bank, D. A. Davidson & Co. and Morgan Joseph & Co. Inc. were co-managers for the offering. URS has granted the underwriters an option to purchase up to 363,672 shares from the Company to cover over-allotments, if any.

     A copy of the prospectus supplement and prospectus relating to the offering may be obtained from Morgan Stanley & Co. Incorporated, Prospectus Department, 1585 Broadway, New York, N.Y. 10036 and Merrill Lynch & Co., 4 World Financial Center, New York, N.Y. 10080 and Merrill Lynch & Co., 4 World Financial Center, New York, N.Y. 10080.

     A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. This announcement shall not constitute an offer to sell or

1

the solicitation of an offer to buy nor shall there be any offer of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

     URS Corporation offers a comprehensive range of professional planning and design, systems engineering and technical assistance, program and construction management, and operations and maintenance services for transportation, commercial/industrial, facilities, environmental, water/wastewater, homeland security, installations and logistics, and defense systems. Headquartered in San Francisco, the Company operates in more than 20 countries with over 27,800 employees providing engineering and technical services to federal, state and local governmental agencies as well as private clients in the chemical, pharmaceutical, oil and gas, power, manufacturing, mining and forest products industries (www.urscorp.com).

952633 v1/SF

2