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The Shaw Group Announces the Opening of Its 90,000-Square Foot State-of-the-Art Pipe Fabrication Facility in China
    BATON ROUGE, La.--(BUSINESS WIRE)--Jan. 23, 2004--
     New Shop Strengthens Company's Competitive Position in Global
                              Marketplace

The Shaw Group Inc. (NYSE:SGR) today announced the opening of its new pipe fabrication shop northwest of Shanghai, China. The facility, which is being operated by Shaw-YPC Piping (Nanjing) Co. Ltd., a joint venture with Sinopec's Yangzi Petrochemcial Corporation subsidiary, will provide pipe fabrication and bending services for China and exports of fabricated piping systems throughout Asia.

"As the world's largest pipe fabrication company, The Shaw Group has consistently employed the most innovative technologies and work processes, and the design of our new facility in China continues that tradition," stated David Chapman, President of Shaw's Fabrication, Manufacturing and Distribution division. "We are proud to bring our unique, value-added capabilities and fabrication expertise to China where the process and power markets are extremely active."

The new state-of-the-art facility will supply high pressure chrome piping systems for power plants as well as piping systems for the process industry. The fabrication of high pressure, heavy wall piping systems and low pressure systems will consist of carbon steel, stainless steel and other alloy materials.

The Nanjing facility will also feature Shaw's proprietary pipe-bending technology through the use of its Shaw-Cojafex PB 1200 machine. This innovative technology facilitates the production of high-quality induction pipe bends up to 48" (1200mm) in diameter and gives Shaw a distinct competitive advantage in China's growing pipeline construction, power, and process industries.

Shaw is the directing partner in the management of the China facility, providing leadership and control in a fashion similar to its other shops in the U.S. and abroad. All technical know-how, procedures, work practices, standards, and specialized equipment are provided through Shaw. The shop will staff approximately 200 people and is expected to produce 3,000 spools per month.

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. Shaw is the world's largest fabricator of industrial piping systems and is the only major domestic fabricator certified by the ASME to assemble piping systems for nuclear generating stations. 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 website 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 website at www.shawgrp.com.

    CONTACT: The Shaw Group Inc., Baton Rouge
             Investor Relations
             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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