BATON ROUGE, La.--(BUSINESS WIRE)--May 10, 2004--The Shaw Group Inc. (NYSE: SGR) announced today that its subsidiary, Shaw Environmental, Inc., was selected as part of the CALIBRE winning team for an indefinite quantity/indefinite delivery contract for Sustainable Range Program (SRP) support from the Department of the Army. This is a multiple award contract with a potential value of more than $220 million over a five-year period of performance, including options.

The SRP Support contract provides integrated management of Army ranges and land assets. Under this contract, a team headed by CALIBRE will provide military installations, major commands, Installation Management Agency (IMA) and IMA regions, the Army Training Support Center, Army Environmental Center, and Headquarters Department of the Army (HQDA) with program support for sustainable range program implementation and operations in the United States and its territories.

Tasks orders under the contract could include a wide range of munitions related operations, including site investigations or inspections, remedial investigations, remedial or removal actions, range clearance, disablement of conventional warfare explosive devises, and training support, as necessary, to permit the use of Army lands for their intended purposes.

"We continue to gain ground in the munitions related services market both domestically and internationally," commented Diana Severs Ferguson, President of Shaw Environmental and Infrastructure. "The CALIBRE team is comprised of the industry's best of breed companies and we look forward to providing unsurpassed service to the Department of the Army."

The Shaw Group Inc. is a leading provider of consulting, engineering, construction, remediation, and facilities management services to government and private sector clients in the environmental, infrastructure, and emergency response markets. Shaw is also a vertically integrated provider of comprehensive engineering, consulting, procurement, pipe fabrication, construction, and maintenance services to the power and process industries worldwide. The Company is headquartered in Baton Rouge, Louisiana, and employs approximately 17,000 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 www.shawgrp.com.

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
             Robert L. Belk, 225-932-2500
    SOURCE: The Shaw Group Inc.