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The Shaw Group Makes Leadership Changes to Expand Executive Team
    BATON ROUGE, La.--(BUSINESS WIRE)--Oct. 1, 2003--
       Tim Barfield Named President and Chief Operating Officer
         Diana Severs Ferguson Appointed President of Shaw E&I;

The Shaw Group Inc. (NYSE: SGR) today announced that it has expanded its executive management team. Tim Barfield, currently President of Shaw Environmental and Infrastructure, Inc. (Shaw E&I;), has been named President and Chief Operating Officer of The Shaw Group Inc. Mr. Barfield will also serve on the Company's Board of Directors. J.M. Bernhard, Jr. will continue as the Company's Chairman and Chief Executive Officer. Diana Severs Ferguson succeeds Mr. Barfield as President of Shaw E&I.;

"Tim has played a key role in Shaw's growth and success during his nine-year tenure. He has consistently demonstrated the ability to execute strategically, manage effectively and deliver solid results," stated J.M. Bernhard, Jr. "Tim has been instrumental in helping shape the Company's vision and has earned the respect of industry peers as well as Shaw's management and employees. I look forward to working closely with Tim as Shaw continues efforts to streamline operations and expand our global market penetration," Bernhard added.

Mr. Barfield joined The Shaw Group in 1994 and has served in various roles within the organization including Secretary and General Counsel, Managing Director of Shaw U.K., President of Shaw APP, and Senior Vice President of Special Projects. He has served as President of Shaw E&I; since Shaw acquired The IT Group, Inc. in May 2002 and has directed and managed the integration of The IT Group's operations into Shaw. Prior to his role as President of Shaw E&I;, Mr. Barfield was Senior Vice President of Special Projects and Assistant to J.M. Bernhard, Jr. In this position, Mr. Barfield was responsible for Shaw's strategic initiatives and projects, including mergers and acquisitions, post-merger integration, financial transactions, strategic customer alliances, and operations oversight. Prior to joining Shaw, Mr. Barfield practiced law with Vinson & Elkins LLP concentrating in securities, financing, and mergers and acquisition matters. Mr. Barfield holds a Bachelor of Science in Business Administration and Juris Doctorate from Louisiana State University.

Prior to joining Shaw, Diana Severs Ferguson served as President, Defense Group at Fluor Corporation. The position charged her with the business responsibilities for all of Fluor's defense business with the federal government, including business unit operational and financial performance, customer relationship management, business development, sales and strategic planning. Ms. Severs Ferguson comes to Shaw following a 23-year career with Fluor in which she moved up the ranks from project management positions to executive positions in consumer products, sales, marketing and strategic planning. Ms. Severs Ferguson holds a Bachelor of Science in Civil/Structural Engineering from the University of California, Irvine.

"We are fortunate to have someone of Diana's professional stature on our executive management team," said Mr. Barfield. "Diana has a proven track record of delivering on strategy and generating results. She brings a wealth of experience and expertise to Shaw and will help us move forward strategically using new implementation tactics."

The changes that come along with Mr. Barfield's move to President and COO and Ms. Severs Ferguson's arrival at Shaw bring an expansion to the Company's executive team, including some shifts in responsibility and new placements.

Richard F. Gill, who previously served as the Company's COO, will continue in his role as Executive Vice President, now with a primary focus on leading and coordinating certain key strategic initiatives and customer relationships. Mr. Gill has also been named Chairman of the Executive Committee, whose primary objective is to coordinate the implementation of the Company's strategic plan, with a particular emphasis on Shaw's interdivisional initiatives.

The Company has also appointed Chief Information Officer G. Patrick Thompson, Jr. to Senior Vice President of Administration. In his expanded role with Shaw, Mr. Thompson will continue as CIO and will oversee business integration opportunities as well as key administrative areas of the Company including facilities management, risk management and insurance.

"Expanding Shaw's leadership team is part of our strategic plan," said Mr. Bernhard. "Streamlining our operations, focusing on profitability and adding depth to our management team provides us with a solid platform on which to build for our future and realize our full potential in the marketplace."

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 15,000 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: A photo is available at URL:
http://www.businesswire.com/cgi-bin/photo.cgi?pw.100103/bb4
    CONTACT: The Shaw Group Inc., Baton Rouge
             Laurie LaChiusa, 225-932-2500
    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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