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Shaw Wins Contract to Support U.S. Air Force's 45th Space Wing

BATON ROUGE, La., May 10, 2005 (BUSINESS WIRE) -- The Shaw Group Inc. (NYSE: SGR) announced today that Space Coast Launch Services LLC (SCLS), a joint venture between Shaw and Computer Sciences Corporation (NYSE: CSC), has won a contract to provide space command logistical support to the U.S. Air Force's 45th Space Wing for unmanned space vehicle launches. The total value of the award, which has a five-month base period and 10 one-year options, is estimated to be approximately $335 million in revenue for the joint venture, if all options are exercised. Under the CSC-led joint venture, the SCLS team will provide operations, maintenance and engineering support to critical launch, spacecraft and ordnance facilities and support systems. Shaw owns 35% of the SCLS joint venture; CSC owns the remaining 65%.

J. M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, "Shaw is pleased to be a significant part of this joint venture which has been selected as the primary provider of technical support services to the Air Force's 45th Space Wing. We are especially pleased to be partnered with Computer Sciences Corporation on this very important project for the Air Force."

Approximately 400 managerial, administrative and technical personnel from SCLS will perform the work at Cape Canaveral in Cocoa Beach, Fla. Teaming with SCLS are Execusys, of Melbourne, Fla., which will provide information technology (IT) support services, and YEI, of Oviedo, Fla., which will provide logistics and procurement services.

The 45th Space Wing is responsible for providing the activities and resources for the safety of flight, range instrumentation, infrastructure and scheduling required to support and ensure space and ballistic launches and other operations.

Founded in 1959, Computer Sciences Corporation is a leading global IT services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.

With approximately 79,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $13.9 billion from continuing operations for the 12 months ended Dec. 31, 2004. For more information, visit the company's Web site at www.csc.com.

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. With over $3 billion in revenues, Shaw is headquartered in Baton Rouge, Louisiana, and employs approximately 19,500 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. The Company was recently named for the second consecutive year to Fortune magazine's annual list of "America's Most Admired Companies." 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.

SOURCE: The Shaw Group Inc.

The Shaw Group Inc.
Investor Relations and Corporate Communications:
Chris D. Sammons
225-932-2500

"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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