THE SHAW GROUP

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The Shaw Group is Selected by the City of Atlanta for Portion of $200 Million Architectural and Engineering Services Contract

BATON ROUGE, La., Jun 30, 2004 (BUSINESS WIRE) -- The Shaw Group Inc. (NYSE:SGR) announced today that Shaw/AIM JV, a joint venture of Shaw Environmental, Inc. and AIM Partners, PLC, was awarded a contract by the City of Atlanta to provide a full range of integrated engineering and construction management services for various departments within the municipality. The contract will support the City's architectural and engineering needs across a wide range of projects, including the recently announced $3.3 billion sewer rehabilitation effort, an accelerated project designed to improve water quality in the City's streams and the Chattahoochee and South Rivers. Shaw/AIM JV was one of six companies selected under this contract, which has a potential shared value of over $200 million.

The indefinite delivery, indefinite quantity contract has a two-year basic ordering period with three additional one-year option periods and will be implemented through task orders which may be performed on a cost-reimbursable or fixed-price basis. Task orders to be issued under this contract include a wide range of architectural, engineering and construction management projects; facilities and infrastructure maintenance; civil, mechanical, electrical, and structural engineering; and the design of treatment facilities and conveyance systems, as well as, sewer design and storm water control structures. Anticipated services include engineering studies, modeling process and hydraulics, and regulatory requirements assistance.

Shaw/AIM JV is the prime contractor in a teaming arrangement with Applied Engineering & Science, Inc.; Bench Mark Management, LLC; Cheeks/Hornbein Architects; Environmental Resource Services; Neil Engineering; Precision Engineering & Surveying, Inc.; The Mosby Law Group; and Washington Group International Inc. The team is a diverse group of highly-qualified companies including significant Minority-Business Enterprise and Female-Business Enterprise participation.

Diana Severs Ferguson, President of Shaw Environmental and Infrastructure, Inc., said, "We have been particularly focused on increasing our visibility in the municipal services market and this opportunity is a tremendous step toward realizing that strategic goal. Atlanta is considered the major commercial and transportation hub of the southeastern United States with one of the busiest airports in the world. We are very pleased and excited to work with the leaders of Atlanta in meeting the City's infrastructure and quality of life goals in a timely and cost-efficient manner."

The Shaw Group Inc. is a leading provider of consulting, engineering, construction, remediation, and facilities management services to government and private sector clients in the environmental, infrastructure, and emergency response markets. The Shaw Group is also a vertically integrated provider of comprehensive engineering, consulting, procurement, pipe fabrication, construction, and maintenance services to the power and process industries worldwide. A Fortune 500 company, The Shaw Group 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 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 Statements". 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.

SOURCE: The Shaw Group Inc.

The Shaw Group Inc., Baton Rouge
Chris D. Sammons, 225-932-2546
"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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