BATON ROUGE, La.--(BUSINESS WIRE)--Oct. 22, 2004--The Shaw Group
Inc. (NYSE: SGR) today announced that its subsidiary, Shaw Beneco,
Inc., has been awarded an indefinite delivery, indefinite quantity
(IDIQ) job order contract by the U.S. Army Corps of Engineers, Tulsa
District for the McAlester Army Ammunition Plant in McAlester,
Oklahoma and the Red River Army Depot in Texarkana, Texas. The
five-year, $29.5 million, IDIQ contract will consist of various
construction projects including renovations, alterations, and repairs
of existing facilities and infrastructure at both sites. At the time
of the contract award, an initial task order to re-roof nine buildings
in the administration area was also issued. Near-term projects
anticipated at McAlester include providing protective covering for 74
earthen bunkers, construction of a new 40' by 50' dining hall,
construction of parking shelters and renovation of a 1940's ammunition
production facility.
Diana Severs Ferguson, President of Shaw Environmental and
Infrastructure, Inc., said, "We are very pleased to receive this award
from the Tulsa District. It closely follows our Comprehensive
Environmental Contract awarded by the Corps this past June, under
which Shaw and other contractors will provide up to $200 million of
various environmental services over the next 5 years. We look forward
to our continued strong working relationship with the Corps and to
starting work immediately at McAlester."
The Shaw Group Inc. is a leading global provider of technology,
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 emergency response markets.
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 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.
