BATON ROUGE, La.--(BUSINESS WIRE)--Oct. 17, 2003--The Shaw Group
Inc. (NYSE: SGR) today announced that it plans to sell up to
20,000,000 shares of its common stock for expected gross proceeds of
$200 million. The Company intends to use the net proceeds of the
offering to fund a portion of a tender offer, which Shaw also
announced today, for its outstanding Liquid Yield Option(TM) Notes due
2021 (Zero Coupon -- Senior) (LYONs).
Credit Suisse First Boston LLC and Merrill Lynch & Co. will act as
joint book-running managers for the offering. When available, copies
of the preliminary prospectus supplement relating to the offering may
be obtained from the offices of Credit Suisse First Boston LLC, 11
Madison Avenue, New York, NY 10010 and Merrill Lynch & Co., Prospectus
Department, Four World Financial Center, New York, NY 10080.
The common stock will be sold pursuant to the Company's universal
shelf registration statement. This news release does not constitute an
offer to sell or the solicitation of an offer to buy the common stock
described herein, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering may be made
only by means of a prospectus and related prospectus supplement.
The Shaw Group Inc. is a leading global provider of 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 homeland defense markets. The
Company is headquartered in Baton Rouge, Louisiana and employs
approximately 14,800 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 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 www.shawgrp.com.
CONTACT: The Shaw Group Inc., Baton Rouge
Laurie LaChiusa, 225-932-2500
SOURCE: The Shaw Group Inc.