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Shaw Announces U.S. Navy Contract Awards

BATON ROUGE, La.--(BUSINESS WIRE)--Oct. 17, 2007--The Shaw Group Inc. (NYSE: SGR) announced today that its Environmental & Infrastructure Group has been awarded a task order on an existing contract plus a new contract from the U.S. Navy.

The work to be performed under the task order includes repair and construction projects at Camp Lemonier in Djibouti, Africa. The value of Shaw's contract, which has been included in the company's previously announced backlog, was not disclosed.

Shaw, as managing partner of Atlantic Contingency Constructors LLC (ACC), was awarded the first task order contract under the Global Contingency Construction - Multiple Award Contract (GCC-MAC) by the Naval Facilities Engineering Command, Atlantic Division. ACC is a limited liability company formed by Shaw Environmental & Infrastructure, Inc., AECOM Government Services, Inc., and PAE Government Services. ACC was awarded the GCC-MAC contract in August of 2006.

Shaw was selected for a new contract award by the Naval Facilities Engineering Service Center to perform work on underground storage tanks on the island of Oahu, Hawaii. Shaw will be responsible for the cleaning, inspection and repair of Red Hill Tank 2 and Red Hill Tank 20. The value of Shaw's two-year contract, which will be included in the company's fiscal year 2008 first quarter backlog, was not disclosed.

"We are pleased to have been selected for the first task order contract under the GCC-MAC to provide repair and construction services," said J.M. Bernhard Jr., Shaw's chairman, president and chief executive officer. "This award further establishes Shaw's international footprint and our ability to deliver a wide range of contingency support for the U.S. Navy.

"We also are pleased to be awarded the tank repair contract by the Naval Facilities Engineering Service Center," Bernhard said. "Shaw continues to build its technical expertise in the fuels market and we look forward to delivering innovative solutions for our clients 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 23,000 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 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 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 www.shawgrp.com.

CONTACT:
The Shaw Group Inc.
Financial Contact:
Chris Sammons, 225-932-2546

Media Contact:
Sean Clancy, 225-987-7129

"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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