|Shaw Intervenes in Louisiana Public Service Commission Docket Regarding Power Sales Contracts of Louisiana Generating, LLC|
|BATON ROUGE, La., Sep 26, 2002 (BUSINESS WIRE) -- The Shaw Group Inc.
(NYSE:SGR) ("Shaw" or "the Company") today announced that on September 24, 2002
it intervened in a Louisiana Public Service Commission ("LPSC") Docket (Docket
U-17735-A) which is entitled "Cajun Electric Power Cooperative, Inc.," ex parte.
In that docket, four Louisiana rural electric cooperatives are seeking the
LPSC's approval to extend their purchase power contracts with Louisiana
Generating, LLC ("LaGen"). The contracts at issue require the four electric
cooperatives to buy from LaGen virtually all of their power requirements needed
to serve their approximately 167,000 retail customers in Louisiana until March
31, 2014. For 2001, the system megawatt demand on LaGen from these four
cooperatives was approximately 885 megawatts. If not extended by the LPSC, these
four contracts are due to expire on March 31, 2004. LaGen is owned by NRG
South-Central, LLC, a subsidiary of NRG Energy, Inc. NRG Energy, Inc. is a
subsidiary of Xcel Energy, Inc. (NYSE:XEL).
The Shaw Group Inc. is the world's only vertically-integrated provider of
comprehensive engineering, procurement, pipe fabrication, construction and
maintenance services to the power, process and environmental & infrastructure
sectors. Shaw is headquartered in Baton Rouge, Louisiana, and currently has
offices and operations in North America, South America, Europe, the Middle East
and Asia-Pacific. Shaw employs more than 20,000 people annually. Additional
information on The Shaw Group is available 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
CONTACT: The Shaw Group Inc., Baton Rouge
Christine N. Mollere, 225/932-2500
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|"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.|