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Shaw Names Michael P. Childers President of ECM Division; Ebrahim Fatemizadeh Appointed President of Power Group

BATON ROUGE, La.--(BUSINESS WIRE)--Sept. 8, 2003--The Shaw Group Inc. (NYSE:SGR) today announced two executive management appointments in its Engineering, Construction and Maintenance (ECM) Division.

Michael P. Childers, President of Shaw's Stone & Webster Power Group, is being promoted to President of Shaw's ECM Division and will be responsible for overseeing operations for the Company's Power and Process Engineering, Procurement and Construction (EPC), Construction, Maintenance, and Consulting and Technologies business units. Mr. Childers joined The Shaw Group in March of this year from Entergy Corporation where he served as President of Entergy Asset Management and Chief Operating Officer of Entergy Wholesale Operations. He has senior level experience in power development, mergers and acquisitions, marketing and trading, as well as expertise in managing long-term structured power and gas transactions.

"Mike has been a strong and energetic leader of our Power Group and a terrific addition to our management team. He has demonstrated his proficiency for maximizing operational efficiency and identifying unique opportunities for enhancing our competitive position in the markets we serve," stated J.M. Bernhard, Jr., Shaw's Chairman, President and Chief Executive Officer. "With the help of Mike's strategic initiatives, we have also made great strides in leveraging our cross selling abilities and identifying additional project opportunities with our existing and prospective customers."

Ebrahim (Abe) Fatemizadeh will succeed Mr. Childers as President of Shaw's Stone & Webster Power Group and will have a specific objective of creating an integrated power and process EPC business unit. Prior to joining Shaw, Mr. Fatemizadeh was Vice President of Fluor Corporation where he was responsible for the management of global operations for Fluor's Chemical Business Unit. Previously, Mr. Fatemizadeh was Senior Vice President of Operations and General Manager for Duke Fluor Daniel in Aliso Viejo, California where he managed P&L; for the power generation business.

Mr. Fatemizadeh brings nearly thirty years experience in the EPC business to Shaw. He has been involved in every aspect of the EPC business including strategic planning, business development, project controls, project management and global operations. Mr. Fatemizadeh received a Bachelor of Science and a Master of Science in Industrial Engineering from the University of Houston.

"Abe is a valuable addition to Shaw's management team, and we are pleased to have someone of his caliber to lead the integration of our power and process EPC business," stated Michael P. Childers, President of The Shaw Group's ECM Division. "His appointment represents our commitment to recruiting the highest quality industry professionals to the Company as we focus on leveraging our diverse capabilities and strengthening our competitive position in the domestic and international markets."

The Shaw Group Inc. is a leading global provider of engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for government and private sector clients in the power, process, environmental, infrastructure and homeland defense markets. The Company is headquartered in Baton Rouge, Louisiana and employs approximately 17,000 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 the Company's website 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 at www.shawgrp.com.

Note: Photos available at URLs:

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    CONTACT: The Shaw Group Inc., Baton Rouge
             Laurie LaChiusa, 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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