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Shaw to Provide Project Management Services for Abu Dhabi Gas Industries Limited; Shaw to Oversee Front End Engineering Stage of Major Gas Pipeline Project

BATON ROUGE, La.--(BUSINESS WIRE)--March 23, 2005--The Shaw Group Inc. (NYSE:SGR) today announced that its Shaw Stone & Webster unit has been selected by Abu Dhabi Gas Industries Limited (GASCO) to provide project management consultancy services for the front end engineering stage of GASCO's Offshore Associated Gas Project (OAG). The amount of the project management consultancy services contract was not disclosed. The project, which is estimated to cost approximately $550 million, would increase the capture of offshore associated gases by 200 million cubic feet per day (MMCFD), and provide pipeline capability to transport 470MMCFD of associated gas to mainland Abu Dhabi in the United Arab Emirates.

J. M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, "The GASCO project further strengthens Shaw's position as a leading provider of technology and professional engineering services in the rapidly developing Middle East process market. We are pleased to work with this highly valued client once again, particularly on such a fast-track and notable project."

The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for energy, process, power, environmental, infrastructure and emergency response markets. A Fortune 500 company with over $3 billion in revenues, Shaw is headquartered in Baton Rouge, Louisiana, and employs approximately 18,000 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.

"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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