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The Shaw Group Announces Multiple Award Remediation Contract to Support U.S. Army Corps of Engineers' Louisville District
    BATON ROUGE, La.--(BUSINESS WIRE)--Aug. 24, 2004--
       $300 Million Contract to be Split Among Five Contractors

The Shaw Group Inc. (NYSE:SGR) today announced that its subsidiary, Shaw Environmental, Inc., was one of five contractors selected by the U.S. Army Corps of Engineers (USACE), Louisville District, for an indefinite delivery, indefinite quantity contract to provide a broad spectrum of environmental services for projects within or assigned to the Corps' Louisville District and all USACE Mission Boundaries. The three-year Multiple Award Remediation Contract has a potential seven-year extension and an overall program ceiling of $300 million to be split among the five contractors.

The work to be performed may include environmental investigation, study, pre-design, design, remediation, start-up activities, environmental compliance, environmental analysis, environmental services, ecosystem restoration, environmental dredging, emergency and time-critical response activities. Task orders issued may be cost reimbursable, fixed price or fixed price with cost containment insurance for project sites that are (1) currently owned or controlled by the Federal Government, (2) Formerly-used Defense Sites, (3) Formerly Utilized Sites Remedial Action Program sites, or (4) other sites where the Corps is authorized to respond. The sites may be contaminated with hazardous, toxic and radiological wastes, ordnance and explosives, and recovered chemical warfare materiel. The contract provides nationwide coverage with the majority of work expected to be performed in Illinois, Indiana, Kentucky, Michigan and Ohio.

Diana Severs Ferguson, President of Shaw Environmental and Infrastructure, Inc., said, "Shaw continues to maintain its strong position in the federal environmental services marketplace and we are pleased to receive this latest award from the Corps of Engineers. Shaw has been providing environmental architectural and engineering support and remediation services to the Louisville District since 1994. The scope of this contract will allow us to demonstrate an expanded range of Shaw's capabilities to this valued client."

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 17,000 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, 225-932-2500
    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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