The Shaw Group Inc.
NYSE : SGR

The Shaw Group Inc.

March 30, 2005 09:13 ET

The Shaw Group Awarded Multiple Award Contract to Support Environmental Cleanup at Army Installations; $320 Million Contract to be Split Among Six Contractors


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: THE SHAW GROUP

NYSE SYMBOL: SGR

MARCH 30, 2005 - 09:13 ET

The Shaw Group Awarded Multiple Award Contract to
Support Environmental Cleanup at Army Installations;
$320 Million Contract to be Split Among Six Contractors

BATON ROUGE, La.--(CCNMatthews - Mar 30, 2005) -

The Shaw Group Inc. (NYSE:SGR) today announced that its subsidiary, Shaw
Environmental, Inc., was one of six contractors selected by the U.S.
Army Contracting Agency, Northern Region Contracting Center, for an
indefinite delivery, indefinite quantity contract to provide a wide
range of environmental assessment, remediation or response activities at
various installations/locations throughout the United States including
the territories of Puerto Rico and the Virgin Islands. The Multiple
Award Performance-Based Remediation Contract has a base contract period
of one year with four optional one-year extensions and has an overall
program ceiling of $320 million to be split among the six contractors.
The work to be performed may include investigative, remedial design,
remedial construction, and remediation services required for hazardous
substance and waste sites, munitions and explosives of concern (MEC),
High-Level Radioactive Waste, and chemical warfare material (CWM).

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said,
"We continue to build a leadership position in the federal
performance-based remediation services marketplace. Shaw is currently
providing comprehensive environmental services to many areas of the U.S.
military, including our remediation contract with the Army Corps of
Engineers' Louisville District and the recently announced environmental
management project for the U.S. Navy Public Works Center in San Diego,
California. We are pleased to receive this latest award from the Army as
the wide scope of this contract is a good match for Shaw's diverse
capabilities."

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., Baton Rouge
    Chris D. Sammons, 225-932-2500