The Shaw Group Inc.

The Shaw Group Inc.

March 23, 2005 09:14 ET

Shaw to Provide Project Management Services for Abu Dhabi Gas Industries Limited; Shaw to Oversee Front End Engineering Stage of Major Gas Pipeline Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: THE SHAW GROUP INC.

NYSE SYMBOL: SGR

MARCH 23, 2005 - 09:14 ET

Shaw to Provide Project Management Services for Abu
Dhabi Gas Industries Limited; Shaw to Oversee Front
End Engineering Stage of Major Gas Pipeline Project

BATON ROUGE, La.--(CCNMatthews - Mar 23, 2005) -

The Shaw Group Inc. (NYSE:SGR) today announced that its Shaw Stone &
Webster unit has been selected by Abu Dhabi Gas Industries Limited
(GASCO) to provide project management consultancy services for the front
end engineering stage of GASCO's Offshore Associated Gas Project (OAG).
The amount of the project management consultancy services contract was
not disclosed. The project, which is estimated to cost approximately
$550 million, would increase the capture of offshore associated gases by
200 million cubic feet per day (MMCFD), and provide pipeline capability
to transport 470MMCFD of associated gas to mainland Abu Dhabi in the
United Arab Emirates.

J. M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said,
"The GASCO project further strengthens Shaw's position as a leading
provider of technology and professional engineering services in the
rapidly developing Middle East process market. We are pleased to work
with this highly valued client once again, particularly on such a
fast-track and notable project."

The Shaw Group Inc. is a leading global provider of technology,
engineering, procurement, construction, maintenance, fabrication,
manufacturing, consulting, remediation, and facilities management
services for energy, process, power, 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.

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, 225-932-2546