BATON ROUGE, La.--(BUSINESS WIRE)--Feb. 20, 2004--The Shaw Group
Inc. (NYSE: SGR) announced today that it has filed a shelf
registration statement with the Securities and Exchange Commission
(SEC) which will permit Shaw to offer and sell up to $500 million of
common stock, preferred stock or debt securities. The net proceeds
generated from any future sale of securities will be used for general
corporate purposes.
"With our existing shelf nearly exhausted, we made this filing to
continue to have the necessary mechanisms in place for facilitating
the sustained growth of our company," stated Robert L. Belk, Executive
Vice President and Chief Financial Officer. "It is our practice to
maintain a shelf registration to give us the flexibility to
effectively manage and expand our global operations and to pursue
various opportunities essential for executing our strategic plan and
increasing shareholder value."
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These securities
may not be sold, nor any offer to buy be accepted, prior to the time
the registration statement becomes effective. This announcement shall
not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sales of these securities in any state in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
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 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.
Laurie LaChiusa, 225-932-2500
SOURCE: The Shaw Group Inc.
