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Shaw to Perform Nationwide Rapid Response/Immediate Response Services for U.S. Army Corps of Engineers

BATON ROUGE, La., Sep 15, 2003 (BUSINESS WIRE) -- The Shaw Group Inc. (NYSE: SGR) ("Shaw" or "the Company") today announced that its subsidiary, Shaw Environmental, Inc., was awarded a contract by the U.S. Army Corps of Engineers (USACE) to provide Rapid Response/Immediate Response (RR/IR) environmental remediation and homeland security/defense services in support of the USACE and its domestic and international customers. The award is for a base period of two years with a one-time three-year option period. The five-year contract has a potential value of up to $115 million.

Shaw will provide a full response service to the USACE and its federal customers in situations where rapid or immediate response action is necessary to protect human life, public health, or the environment. Additionally, Shaw will provide the USACE with time sensitive support to Homeland Defense/Security initiatives involving the assessment and/or implementation of preventative measures to address facility vulnerabilities, or the abatement, minimization, stabilization, containment, mitigation, and elimination of damages or materials remaining from an actual attack by a terrorist, terrorist organization, or hostile country.

"We are gratified by the USACE's continued confidence in Shaw's ability to provide superior remediation and homeland defense services on an expedited basis," stated Tim Barfield, President of Shaw Environmental & Infrastructure, Inc. "This significant project allows us to demonstrate the intrinsic value of our enhanced capabilities while supporting the USACE's overall preparedness efforts."

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.

SOURCE: The Shaw Group Inc.

The Shaw Group Inc., Baton Rouge
Laurie LaChiusa, 225-932-2500
www.shawgrp.com
http://www.businesswire.com
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"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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