BATON ROUGE, La.--(BUSINESS WIRE)--Feb. 20, 2004--The Shaw Group
Inc. (NYSE: SGR) today announced that it has opened an office in
Baghdad to support its increasing activity in Iraq including
anticipated U.S. government projects under the $1.5 billion U.S.
Central Command award announced in January 2004. The facility will
also support projects for the Iraqi ministries and other clients
located throughout the Middle East.
The Baghdad office is currently supporting an approximately $47
million task order in Iraq for facility upgrades, installation of
utilities and other infrastructure improvements. The task order was
awarded under the Air Force Center for Environmental Excellence
(AFCEE), Worldwide Environmental Remediation and Construction services
contract. The Shaw Group was selected among several companies to
perform a full range of integrated environmental and construction
services under the AFCEE contract, which was awarded in December 2003.
The new office presently employs a workforce of approximately 1,200,
including Shaw personnel and Iraqi subcontractors.
"The Shaw Group has focused on forming strong partnerships and a
broad spectrum of capabilities and resources in Iraq. With these
strategic advantages in place, we are now competitively positioned to
win and successfully execute projects in this region," stated J.M.
Bernhard, Jr., Chairman and Chief Executive Officer. "We are pleased
to establish the proper infrastructure to sustain the anticipated
workload and to contribute to the rebuilding efforts in Iraq."
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 15,000 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
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 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 website at www.shawgrp.com.
CONTACT: The Shaw Group Inc., Baton Rouge
Laurie LaChiusa, 225-932-2500
SOURCE: The Shaw Group Inc.