News Release

BATON ROUGE, La.--(BUSINESS WIRE)--Jan. 6, 2003--The Shaw Group Inc. (NYSE:SGR) ("Shaw" or "the Company") today announced that it will host a conference call to discuss the Company's first quarter fiscal 2003 financial results. The call will be held on Monday, January 13, 2003 and will begin at 8:00 a.m. Central time.

A live webcast of the conference call will be available on the Investor Relations page of The Shaw Group's web site at www.shawgrp.com.

An audio replay of the call will be available through Monday, January 20, 2003 and may be accessed by dialing 800-633-8284 or 402-977-9140. The reservation number to access the playback is 21099378.

The Shaw Group Inc. is a leading global provider of comprehensive services to the power, process, and environmental and infrastructure industries. Shaw is a vertically-integrated provider of comprehensive engineering, procurement, pipe fabrication, construction and maintenance services to the power and process industries. Shaw is also a leader in the environmental, infrastructure and homeland defense markets providing consulting, engineering, construction, remediation and facilities management services to governmental and commercial customers. The Company is headquartered in Baton Rouge, Louisiana with offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region and employs approximately 17,000 people. Additional information on The Shaw Group is available at www.shawgrp.com.

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