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Shaw Awarded Technology and EPC Contract for ExxonMobil Chemical's Olefins Recovery Facility and Power Cogeneration Unit in Singapore

BATON ROUGE, La.--(BUSINESS WIRE)--Sept. 14, 2007--The Shaw Group Inc. (NYSE: SGR) announced today that its Energy & Chemicals Group has been awarded a contract to provide technology, engineering, procurement and construction (EPC) services for a 1,000,000 tons-per-year olefins recovery facility and a 220 megawatt power cogeneration unit at Jurong Island, Singapore, for ExxonMobil Chemical. The project is part of ExxonMobil Chemical's second world-scale steam cracker and associated derivative units being constructed at the site. The value of Shaw's contract, already included in the company's previously announced backlog, was undisclosed.

"This award further establishes Shaw as a major EPC player in Asia," said J.M. Bernhard Jr., chairman, president and chief executive officer of Shaw. "We will draw upon our 66 years of global olefins experience and expertise in power generation to successfully deliver a world-scale plant that will help ExxonMobil Chemical meet the increasing global demand for petrochemicals."

An established leader in ethylene technology, Shaw has provided technology, design, engineering and/or construction for more than 120 plants with a worldwide reputation for exceptionally high operational reliability, rapid start-up and superior performance. Since 1990, Shaw technology has been selected for 35 percent of the world's ethylene capacity increases. Currently, Shaw is providing technology and EPC services for several other major olefins projects worldwide.

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 energy, chemical, environmental, infrastructure and emergency response markets. A Fortune 500 company with nearly $5 billion in annual revenues, Shaw is headquartered in Baton Rouge, La., and employs approximately 25,000 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 Shaw's Web site at

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 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 Web site at

CONTACT: The Shaw Group Inc., Baton Rouge
Investor Contact:
Chris Sammons, 225-932-2546
Media Contact:
Sean Clancy, 225-987-7129

SOURCE: The Shaw Group Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding SHAW GROUP INC's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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