BATON ROUGE, La., Jul 26, 2002 (BUSINESS WIRE) -- The Shaw Group Inc.
(NYSE:SGR) ("Shaw" or "the Company") is pleased to announce that Dr. James R.
Schlesinger has been retained as a senior advisor to Shaw Environmental &
Infrastructure, Inc. (Shaw E & I). In this role, Dr. Schlesinger will provide
expert advice and counsel to Shaw E & I on matters relating to government
business development and strategic acquisitions and partnerships.
"I am extremely pleased that such a highly qualified and respected advisor has
joined our Shaw team," stated T.A. Barfield, Jr., President of Shaw E & I. "Dr.
Schlesinger has over 40 years of distinguished service to this country and will
be a valuable asset to Shaw and its effort to move forward as a top competitor
in the industry."
Dr. Schlesinger has a long and distinguished record of public service. He has
served as Secretary of Energy, Secretary of Defense, Director of Central
Intelligence, Chairman of the Atomic Energy Commission, and Assistant Director
of the Office of Management and Budget (OMB). While at OMB, Dr. Schlesinger was
instrumental in the creation of the Environmental Protection Agency. He was
recently appointed by President Bush to serve as a member of the President's
Homeland Security Advisory Council.
Dr. Schlesinger is currently the Chairman of the Board of Trustees of the MITRE
Corporation, a Senior Advisor for Lehman Brothers, Counselor and Trustee of the
Center for Strategic and International Studies and Chairman of the Executive
Committee of the Nixon Center.
Dr. Schlesinger is the author of The Political Economy of National Security
(1960), America at Century's End (1989), and numerous articles. He has been
awarded eleven honorary doctorates. Dr. Schlesinger is the recipient of the
National Security Medal as well as five departmental and agency medals. He is
the winner of the Dwight D. Eisenhower Distinguished Service Medal, the George
Catlett Marshall Medal, the H.H. Arnold Award, the Navy League's National
Meritorious Citation, the Military Order of the World Wars Distinguished Service
Award, the Jimmy Doolittle Award, the William Oliver Baker Award, and the Henry
M. Jackson Award for Distinguished Public Service.
Dr. Schlesinger holds a Bachelor of Arts degree, a Master's degree, and a Ph.D.
from Harvard University.
The Shaw Group Inc. is the world's only vertically-integrated provider of
comprehensive engineering, procurement, pipe fabrication, construction and
maintenance services to the power, process and environmental & infrastructure
sectors. Shaw is headquartered in Baton Rouge, Louisiana, and currently has
offices and operations in North America, South America, Europe, the Middle East
and Asia-Pacific. Shaw employs more than 20,000 people annually. Additional
information on The Shaw Group is available 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 Statement". 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
CONTACT: The Shaw Group Inc., Baton Rouge
Christine N. Mollere, 225/932-2500
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