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Shaw Awarded Engineering, Procurement and Construction Contract by Dominion; Shaw to Retrofit Coal-Fired Generating Unit at Chesterfield Station

BATON ROUGE, La.–(BUSINESS WIRE)–Dec. 2, 2005–The Shaw Group Inc. (NYSE: SGR) today announced that its Shaw Stone & Webster unit has been awarded an engineering, procurement and construction (EPC) contract to retrofit the coal-fired generating Unit 6 at Dominion’s Chesterfield Station in Chester, Virginia with pollution control equipment. The retrofit will include the installation of Flue Gas Desulphurization (FGD) equipment, also known as “scrubbers,” which are designed to remove over 95 percent of the unit’s sulfur dioxide emissions thereby significantly improving the air quality surrounding the facility. Engineering is already in progress and construction is expected to begin in 2006. Completion for the Chesterfield location is expected in summer 2008.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, “This latest scrubber award furthers our leadership position in the scrubber market both logistically and in terms of a demonstrated and broad range of successful relationships in this industry. We look forward to expanding our project portfolio in the FGD market and to continuing to identify creative, effective solutions that benefit our clients and our communities.”

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 energy, chemical, environmental, infrastructure and emergency response markets. Headquartered in Baton Rouge, Louisiana, with over $3 billion in annual revenues, Shaw employs approximately 20,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. The Company was recently named to Fortune magazine’s annual list of “America’s Most Admired Companies” for the second consecutive year. For further information, please visit Shaw’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 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 web site at www.shawgrp.com.

CONTACT: The Shaw Group Inc.
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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