Shaw Subsidiary to be Awarded Contract by U.S. Army
BATON ROUGE, La., Oct 22, 2002 (BUSINESS WIRE) -- The Shaw Group Inc. (NYSE:SGR) ("Shaw" or "the Company") today announced that its subsidiary, Shaw Infrastructure, Inc., was notified by the U.S. Army Garrison, Alaska that the Army Administrative Appeal Board had cleared the way to award the contract to provide facilities maintenance at three sites in Alaska to Shaw. The three sites include Ft. Richardson located in Anchorage, Alaska; Ft. Wainwright, located in Fairbanks, Alaska; and an Army recreation center located in Seward, Alaska. The five year contract exceeds $50 million.

Shaw's scope under the contract includes public works operations and maintenance. Public works activities include scheduled and unscheduled maintenance of buildings and structures, roads and grounds, vehicles, some utility systems, heating and air conditioning systems, and electrical systems, as well as snow removal operations. Maintenance, maintenance planning and work control, preventive and predictive maintenance, are also included in the scope of the services provided. Shaw Infrastructure is the prime contractor. Major subcontractors include Field Support Services Inc. (FSSI), a subsidiary of Arctic Slope Regional Corporation and Khotol Services Corporation (KSC), a subsidiary of Gana-A'Yoo, Limited, both Alaskan Native companies.

"We are very excited to receive this conditional award from the Army and grow our partnership with Alaskan Native companies. Both corporations bring with them a solid foundation of sound business ethics, practices and resources that focus on the Alaska economy and the needs of the Alaskan people. Shaw Infrastructure will continue to demonstrate its capabilities to enhance the quality of life for service members by providing top quality facilities operation and maintenance services with enhanced efficiencies. We are proud to serve the military as it continues its efforts in fighting the war on terrorism," stated Tim Barfield, Jr., President of Shaw Environmental & Infrastructure, Inc. "We recognize the value of the existing government workers and we will actively seek to recruit and hire the incumbent work force."

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

For additional information, please contact Christine N. Mollere, Vice President of Corporate Communications, at 225/932-2500.

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

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.