class='on' The Shaw Group, Inc.


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At a Glance

HQ: Baton Rouge, LA

NYSE Symbol: SGR

No. of employees: 22,000

Revenues: Over $4 billion

Founded: 1987

Chairman & CEO:
J.M. Bernhard, Jr.

T.A. Barfield, Jr.

Executive VP & CFO: Robert L. Belk

News Release

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Shaw Announces Results of Common Stock Offering; Total Net Proceeds of $261.3 Million Include Underwriters’ Overallotment Option Exercise

BATON ROUGE, La.–(BUSINESS WIRE)–April 21, 2005–The Shaw Group Inc. (NYSE:SGR) today announced that it has completed the sale of 12.85 million shares of common stock at a public offering price of $19.50 per share for net proceeds of approximately $238.7 million. In addition, the underwriters have exercised their overallotment option to purchase an additional approximately 1.2 million shares at the public offering price. We expect the closing of the sale of the overallotment option shares to occur on or about April 22, 2005. Net proceeds from the sale of those shares will be approximately $22.6 million, bringing the total net proceeds of the offering to approximately $261.3 million. Shaw intends to use the total net proceeds of this offering together with cash on hand to repurchase its outstanding 10 3/4 % Senior Notes Due 2010. As a result of the equity offering including the exercise of the overallotment option, the Company will have approximately 78.8 million shares outstanding.

Credit Suisse First Boston, UBS Investment Bank and Merrill Lynch & Co. served as joint book-running managers for the offering. A prospectus supplement relating to the offering may be obtained from the offices of Credit Suisse First Boston, 11 Madison Avenue, New York, NY 10010; UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171; and Merrill Lynch & Co., Prospectus Department, Four World Financial Center, New York, NY 10080.

The common stock was 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 technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation and facilities management services for energy, chemicals, environmental, infrastructure and emergency response markets. With over $3 billion in annual revenues, Shaw is headquartered in Baton Rouge, Louisiana, and employs approximately 19,500 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 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

    CONTACT: The Shaw Group Inc., Baton Rouge
             Chris D. Sammons, 225-932-2546
    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.

Additional Information

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