The Shaw Group Inc.

The Shaw Group Inc.

January 04, 2005 08:30 ET

Shaw Completes Task Orders to Provide Construction and Transportation Services for Hurricane Relief Efforts in Central Florida


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: THE SHAW GROUP INC.

NYSE SYMBOL: SGR

JANUARY 4, 2005 - 08:30 ET

Shaw Completes Task Orders to Provide Construction and
Transportation Services for Hurricane Relief Efforts
in Central Florida

BATON ROUGE, La.--(CCNMatthews - Jan 4, 2005) -

The Shaw Group Inc. (NYSE:SGR) today announced that its subsidiary, Shaw
Environmental, Inc., has completed two task orders from the U.S. Army
Corps of Engineers to provide construction and transportation emergency
response services in the central region of Florida. The task orders were
issued under Shaw's Rapid-Response contract with the Corps.

Under the first task order, Shaw provided construction services for a
manufactured home site in Wauchula, Florida. The manufactured home site
was built to provide housing for Floridians displaced from their homes
after Hurricanes Frances and Jeanne. During the first phase of the
project, Shaw built the 28-acre site to accommodate 150 single-wide
manufactured home units and installed approximately 75 homes. The
remaining units will be installed during the second phase of the
project, pending the Corps' further task order. Shaw received the task
order in early November and mobilized within two days of notification.
Shaw also received a task order to deliver and install FEMA-provided
modular homes and trailers to a 12-county area throughout the central
region of Florida. In addition, Shaw built expedited group sites that
provided complete utilities for 50 temporary trailer housing units.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw
commented, "We are happy to have been selected for this important rapid
response project to provide immediate housing sites for displaced
families in central Florida. Along with the Corps of Engineers and FEMA,
Shaw has been committed to providing emergency infrastructure and
transportation services quickly. We were pleased to provide these
families with a comfortable place to call home for the recent holiday
season."

The task orders were funded by the Federal Emergency Management
Administration (FEMA), and were issued under Shaw's previously announced
rapid response/immediate response contract with the U.S. Army Corps of
Engineers. The five-year contract has a potential value of up to $115
million. In addition to this project, Shaw supported the Corps' mission
to conduct emergency temporary roof repairs for homes and buildings in
Florida damaged by Hurricanes Frances and Jeanne. Also funded by FEMA,
"Operation Blue Roof" was a fast-track mission to provide temporary roof
repairs to prevent further structural damage until more permanent
repairs can be made. Shaw also provided power restoration services to
the east and central regions of Florida in the wake of the hurricanes.

The Shaw Group Inc. is a leading global provider of technology,
engineering, procurement, construction, maintenance, fabrication,
manufacturing, consulting, remediation, and facilities management
services for government and private sector clients in the power,
process, environmental, infrastructure and emergency response markets.
The Company is headquartered in Baton Rouge, Louisiana and employs
approximately 17,000 people at its offices and operations in North
America, South America, Europe, the Middle East and the Asia-Pacific
region. For further information, please visit the Company's website at
www.shawgrp.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for certain forward-looking statements. The statements contained
herein that are not historical facts (including without limitation
statements to the effect that the Company or its management "believes,"
"expects," "anticipates," "plans," or other similar expressions) and
statements related to revenues, earnings, backlog, or other financial
information or results are forward-looking statements based on the
Company's current expectations and beliefs concerning future
developments and their potential effects on the Company. There can be no
assurance that future developments affecting the Company will be those
anticipated by the Company. These forward-looking statements involve
significant risks and uncertainties (some of which are beyond our
control) and assumptions and are subject to change based upon various
factors. Should one or more of such risks or uncertainties materialize,
or should any of our assumptions prove incorrect, actual results may
vary in material respects from those projected in the forward-looking
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. A description of some of the
risks and uncertainties that could cause actual results to differ
materially from such forward-looking statements can be found in the
Company's reports and registration statements filed with the Securities
and Exchange Commission, including its Form 10-K and Form 10-Q reports,
and on the Company's web-site under the heading "Forward Looking
Statement". These documents are also available from the Securities and
Exchange Commission or from the Investor Relations department of Shaw.
For more information on the company and announcements it makes from time
to time on a regional basis visit our web site at www.shawgrp.com.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    The Shaw Group Inc., Baton Rouge
    Chris D. Sammons, 225-932-2546