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Shaw Awarded Environmental Management Contract to Support U.S. Navy Public Works Center San Diego, California

BATON ROUGE, La.--(BUSINESS WIRE)--March 29, 2005--The Shaw Group Inc. (NYSE: SGR) today announced that its subsidiary, Shaw Infrastructure, Inc., was selected by the Naval Facilities Engineering Command, Southwest Division, to provide comprehensive environmental management services at various U.S. Navy and Marine Corps installations within the Navy Public Works Center area of responsibility. The $8 million fixed-price, indefinite-delivery/indefinite-quantity contract has a base contract period of six months, with four optional one-year extensions and one optional three-month extension. If exercised, the extensions would bring the maximum contract value to $67 million. Shaw will commence work on the project April 1, 2005.

The work to be performed includes a comprehensive range of environmental services, including hazardous waste management; oily and industrial waste treatment; laboratory services; assessment and cleanup of contaminated sites; and specialized projects in support of San Diego area Navy and Marine Corps installations, as well as Navy ships. Specialized projects may include investigation, remedial design, remedial construction, and other professional environmental services.

The work will be performed at various locations within and around the San Diego, California area, including the Naval Bases in San Diego, Coronado, and Point Loma. The contract also includes services to the Naval Medical Center in San Diego, Marine Corps Base Camp Pendleton, and the Marine Corps Air Station Miramar. The Navy Public Works Center in San Diego was commissioned in 1963 to consolidate the management of public works services and products to the military community and provide public works services that contribute to the readiness of our military personnel and to the quality of life ashore.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, "We are pleased to receive this environmental management award from the Naval Facilities Engineering Command. Shaw is already providing environmental remedial construction expertise to the Navy and this project will diversify our portfolio of services to this valued client. We look forward to supporting military installations throughout the San Diego area."

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 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.

Forward-Looking Statements - 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.
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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