BATON ROUGE, La., Oct 16, 2003 (BUSINESS WIRE) -- The Shaw Group
Inc. (NYSE:SGR) today announced it will pursue a sale of approximately
$200 million of its common stock as soon as practicable. The Company
intends to use the net proceeds of any such offering to fund
repurchases of its outstanding Liquid Yield Option(TM) Notes due 2021
(Zero Coupon -- Senior) (LYONs).
This announcement is neither an offer to sell nor a solicitation
of an offer to buy any of these securities nor shall there be any sale
of these securities in any state in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of such state. A shelf registration
statement relating to the foregoing has previously been filed and
declared effective. Any offer will be made only by means of a
prospectus supplement forming a part of such registration statement.
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 14,800 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
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