Jacobs Engineering Group Inc.

Jacobs Engineering Group Inc.

March 08, 2005 07:45 ET

Jacobs Receives Contract from Saudi Aramco


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: JACOBS ENGINEERING GROUP INC.

NYSE SYMBOL: JEC

MARCH 8, 2005 - 07:45 ET

Jacobs Receives Contract from Saudi Aramco

PASADENA, Calif.--(CCNMatthews - Mar 8, 2005) -

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that a
subsidiary company received a contract to provide program management
services to Saudi Aramco for multiple onshore projects.

Officials did not disclose the contract value, but Saudi Aramco
anticipates running several hundred thousand reimbursable project hours
through the consortium each year. Jacobs signed the five-year contract,
which contains an option for a two-year extension, with consortium
partners SNC-Lavalin and Saudi Arabia-based Saudi Consulting Services.

Saudi Aramco characterized this contract as a historic moment for Saudi
Aramco and the region. It provides a transition to executing major
project planning and FEED packages in Saudi Arabia, with an emphasis on
training local personnel within the consortium companies.

In making the announcement, Jacobs President Craig Martin stated, "We
are excited to continue our close working relationship with Saudi Aramco
to meet their various project needs over the duration of this important
contract. Our goal is to help them succeed in executing these projects
while developing local staffing resources. We expect this knowledge
transfer to proceed through execution of project planning, FEED package
development, detail design, procurement, and construction management."

Jacobs, with over 35,000 employees and revenues approaching $5.0
billion, provides technical, professional, and construction services
globally.

Any statements made in this release that are not based on historical
fact are forward-looking statements. Any forward-looking statements made
in this release represent management's best judgement as to what may
occur in the future. However, Jacobs' actual outcome and results are not
guaranteed and are subject to certain risks, uncertainties and
assumptions ("Future Factors"), and may differ materially from what is
expressed. For a description of Future Factors that could cause actual
results to differ materially from such forward-looking statements, see
the discussion under the section "Forward-Looking Statements" included
in Item 7 - Management's Discussion and Analysis of Financial Condition
and Results of Operations contained in the Company's 2004 Annual Report
on Form 10-K.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Jacobs Engineering Group Inc.
    Rod Sharp, 626-578-6992