BATON ROUGE, La.--(BUSINESS WIRE)--Aug. 17, 2004--The Shaw Group
Inc. (NYSE:SGR) announced today that its subsidiary, Shaw Energy
Delivery Services, Inc. (Shaw EDS), is providing 250 linemen, 125
trucks and other equipment to the power restoration efforts following
the devastation of Hurricane Charley. The line technicians arrived
yesterday in Central Florida's hardest-hit areas of Port Charlotte and
Punta Gorda in Charlotte County where they will work with Florida
Power & Light (NYSE:FPL) and Progress Energy (TSX:PGX) to re-establish
utility service to those customers impacted by the storm. The workers
were temporarily released from contract work with Duke Power
(NYSE:DUK), Baltimore Gas & Electric and several utility co-operatives
in the Carolinas, in accordance with the Southeast Electrical Mutual
Assistance Agreement.
William F. Quinn, President of Shaw Transmission and Distribution
Services, said, "We are pleased to provide critical resources to the
restoration effort and we are confident our highly skilled teams will
return power to Central Florida residents in an expedient manner. Our
participation is another example of Shaw's unique ability to provide
timely, comprehensive emergency response services, in addition to our
traditional transmission and distribution capabilities."
Shaw EDS provides premier design, installation, upgrade and
maintenance power transmission and distribution systems and services
that improve reliability and operational efficiencies. Shaw EDS has
designed, constructed, and maintained more than 12,500 miles of
transmission systems, 70,000 miles of primary distribution lines, and
2,000 substations for clients across the United States and overseas.
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 with $3.3 billion in revenues in
2003, The Shaw Group debuted on the magazine's "America's Most Admired
Companies" list in 2004. Shaw is headquartered in Baton Rouge,
Louisiana and employs approximately 16,700 people at its offices and
operations in North America, South America, Europe, the Middle East
and the Asia-Pacific region. Additional information on The Shaw Group
is available 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 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.
CONTACT: The Shaw Group Inc., Baton Rouge
Chris D. Sammons, 225-932-2546
SOURCE: The Shaw Group Inc.
