BATON ROUGE, La.--(BUSINESS WIRE)--March 31, 2003--The Shaw Group
Inc. (NYSE: SGR) ("Shaw" or "the Company") today announced that for
the first time it has been listed among the top 500 companies in the
United States, ranked according to revenue in the annual survey taken
by Fortune magazine.
The Shaw Group's annual revenue for 2002 was $3.2 billion
positioning the Company as 479th on the list and sixth in the
Engineering and Construction category. The Shaw Group is the second
Fortune 500 Company in Louisiana and the only Fortune 500 Company
headquartered in Baton Rouge.
"Over the last 16 years, The Shaw Group has become a formidable
leader in the industries we serve. It has been the goal of both
management and our employees to exceed not only our expectations, but
that of others," stated J. M. Bernhard, Jr., Chairman, President and
CEO. "Making the Fortune 500 list has been one of those goals and we
are proud today to be the second company in Louisiana to achieve this
status, and to claim the ranks of a Fortune 500 Company. This is
validation of the hard work and determination exemplified by our
employees and our management team."
The Shaw Group Inc. offers a broad range of services to clients in
the environmental and infrastructure, power and process industries
worldwide. The Company is a leading provider of consulting,
engineering, construction, remediation and facilities management
services to the environmental, infrastructure and homeland security
markets. The Company is also a vertically-integrated provider of
comprehensive engineering, consulting, procurement, pipe fabrication,
construction and maintenance services to the power and process
industries. 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. For more information please visit our website at
www.shawgrp.com.
For more information, please contact Bob Belk, Executive Vice
President and Chief Financial Officer at 225-932-2500.
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 at www.shawgrp.com.
CONTACT: The Shaw Group Inc., Baton Rouge
Bob Belk, 225/932-2500
SOURCE: The Shaw Group Inc.
