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The Shaw Group Awarded Multiple Award Contract to Support Environmental Cleanup at Army Installations; $320 Million Contract to be Split Among Six Contractors

BATON ROUGE, La.–(BUSINESS WIRE)–March 30, 2005–The Shaw Group Inc. (NYSE:SGR) today announced that its subsidiary, Shaw Environmental, Inc., was one of six contractors selected by the U.S. Army Contracting Agency, Northern Region Contracting Center, for an indefinite delivery, indefinite quantity contract to provide a wide range of environmental assessment, remediation or response activities at various installations/locations throughout the United States including the territories of Puerto Rico and the Virgin Islands. The Multiple Award Performance-Based Remediation Contract has a base contract period of one year with four optional one-year extensions and has an overall program ceiling of $320 million to be split among the six contractors. The work to be performed may include investigative, remedial design, remedial construction, and remediation services required for hazardous substance and waste sites, munitions and explosives of concern (MEC), High-Level Radioactive Waste, and chemical warfare material (CWM).

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, “We continue to build a leadership position in the federal performance-based remediation services marketplace. Shaw is currently providing comprehensive environmental services to many areas of the U.S. military, including our remediation contract with the Army Corps of Engineers’ Louisville District and the recently announced environmental management project for the U.S. Navy Public Works Center in San Diego, California. We are pleased to receive this latest award from the Army as the wide scope of this contract is a good match for Shaw’s diverse capabilities.”

The Shaw Group Inc. is a leading global provider of technology, 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 emergency response markets. A Fortune 500 company with over $3 billion in revenues, Shaw is headquartered in Baton Rouge, Louisiana and employs approximately 18,000 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.

Forward-Looking Statements – 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 Statements”. 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
Chris D. Sammons
225-932-2500

SOURCE: The Shaw Group Inc.

“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.

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