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Shaw Names New Vice President of Investor Relations and Corporate Communications

BATON ROUGE, La.--(BUSINESS WIRE)--April 21, 2003--The Shaw Group Inc. (NYSE:SGR) ("Shaw" or "the Company") today announced that Laurie LaChiusa has rejoined the Company as Vice President of Investor Relations and Corporate Communications, replacing the recently retired, Christine N. Mollere. Ms. LaChiusa served as The Shaw Group's Investor Relations Director from 1996 to 1998, and managed the Company's investor relations activities in 1995 during her tenure as Account Supervisor for Morgen-Walke Associates, an investor relations and corporate communications firm based in New York. She brings to Shaw a varied background in financial relations that spans ten years.

Ms. LaChiusa returns to The Shaw Group from Trust Company of the West, a Los Angeles based investment management firm with $80 billion in assets under management, where she served as Vice President of Private Client Services. Previously, she spent over three years in the environmental business as Vice President of Business Development for Electrokinetics, Inc., a Baton Rouge-based environmental company with an innovative technology for hazardous waste remediation. Ms. LaChiusa began her career as an Institutional Equity Sales Representative for Wertheim Schroder, Inc., a New York-based investment banking and institutional brokerage firm.

"I would like to thank Mrs. Mollere for her service and dedication to The Shaw Group for the past five years and wish her well in her new endeavors," stated J. M. Bernhard, Jr., Chairman, President, and CEO of The Shaw Group Inc. "I'd also like to welcome Ms. LaChiusa on her return to the Company. Because of her strong investment background, she brings a plethora of knowledge and experience to the Company, and we look forward to her being a valuable asset to 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 the Corporate Communications Department 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
             Corporate Communications Department, 225/932-2500
             www.shawgrp.com
    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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