The Shaw Group Inc.

The Shaw Group Inc.

March 29, 2005 09:20 ET

Shaw Awarded Environmental Management Contract to Support U.S. Navy Public Works Center San Diego, California


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: THE SHAW GROUP INC.

NYSE SYMBOL: SGR

MARCH 29, 2005 - 09:20 ET

Shaw Awarded Environmental Management Contract to
Support U.S. Navy Public Works Center San Diego,
California

BATON ROUGE, La.--(CCNMatthews - Mar 29, 2005) -

The Shaw Group Inc. (NYSE: SGR) today announced that its subsidiary,
Shaw Infrastructure, Inc., was selected by the Naval Facilities
Engineering Command, Southwest Division, to provide comprehensive
environmental management services at various U.S. Navy and Marine Corps
installations within the Navy Public Works Center area of
responsibility. The $8 million fixed-price,
indefinite-delivery/indefinite-quantity contract has a base contract
period of six months, with four optional one-year extensions and one
optional three-month extension. If exercised, the extensions would bring
the maximum contract value to $67 million. Shaw will commence work on
the project April 1, 2005.

The work to be performed includes a comprehensive range of environmental
services, including hazardous waste management; oily and industrial
waste treatment; laboratory services; assessment and cleanup of
contaminated sites; and specialized projects in support of San Diego
area Navy and Marine Corps installations, as well as Navy ships.
Specialized projects may include investigation, remedial design,
remedial construction, and other professional environmental services.

The work will be performed at various locations within and around the
San Diego, California area, including the Naval Bases in San Diego,
Coronado, and Point Loma. The contract also includes services to the
Naval Medical Center in San Diego, Marine Corps Base Camp Pendleton, and
the Marine Corps Air Station Miramar. The Navy Public Works Center in
San Diego was commissioned in 1963 to consolidate the management of
public works services and products to the military community and provide
public works services that contribute to the readiness of our military
personnel and to the quality of life ashore.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said,
"We are pleased to receive this environmental management award from the
Naval Facilities Engineering Command. Shaw is already providing
environmental remedial construction expertise to the Navy and this
project will diversify our portfolio of services to this valued client.
We look forward to supporting military installations throughout the San
Diego area."

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. A
Fortune 500 company with over $3 billion in revenues, Shaw is
headquartered in Baton Rouge, Louisiana and employs approximately 18,000
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.

Forward-Looking Statements - 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 website under the heading
"Forward-Looking Statements". 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
website at www.shawgrp.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    The Shaw Group Inc.
    Chris D. Sammons, 225-932-2500