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Shaw Completes Task Orders to Provide Construction and Transportation Services for Hurricane Relief Efforts in Central Florida

BATON ROUGE, La.--(BUSINESS WIRE)--Jan. 4, 2005--The Shaw Group Inc. (NYSE:SGR) today announced that its subsidiary, Shaw Environmental, Inc., has completed two task orders from the U.S. Army Corps of Engineers to provide construction and transportation emergency response services in the central region of Florida. The task orders were issued under Shaw's Rapid-Response contract with the Corps.

Under the first task order, Shaw provided construction services for a manufactured home site in Wauchula, Florida. The manufactured home site was built to provide housing for Floridians displaced from their homes after Hurricanes Frances and Jeanne. During the first phase of the project, Shaw built the 28-acre site to accommodate 150 single-wide manufactured home units and installed approximately 75 homes. The remaining units will be installed during the second phase of the project, pending the Corps' further task order. Shaw received the task order in early November and mobilized within two days of notification. Shaw also received a task order to deliver and install FEMA-provided modular homes and trailers to a 12-county area throughout the central region of Florida. In addition, Shaw built expedited group sites that provided complete utilities for 50 temporary trailer housing units.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw commented, "We are happy to have been selected for this important rapid response project to provide immediate housing sites for displaced families in central Florida. Along with the Corps of Engineers and FEMA, Shaw has been committed to providing emergency infrastructure and transportation services quickly. We were pleased to provide these families with a comfortable place to call home for the recent holiday season."

The task orders were funded by the Federal Emergency Management Administration (FEMA), and were issued under Shaw's previously announced rapid response/immediate response contract with the U.S. Army Corps of Engineers. The five-year contract has a potential value of up to $115 million. In addition to this project, Shaw supported the Corps' mission to conduct emergency temporary roof repairs for homes and buildings in Florida damaged by Hurricanes Frances and Jeanne. Also funded by FEMA, "Operation Blue Roof" was a fast-track mission to provide temporary roof repairs to prevent further structural damage until more permanent repairs can be made. Shaw also provided power restoration services to the east and central regions of Florida in the wake of the hurricanes.

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. The Company 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 web-site 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 web site at www.shawgrp.com.

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