BATON ROUGE, La.–(BUSINESS WIRE)–June 23, 2005–The Shaw Group Inc. (NYSE: SGR) today announced that Richard F. Gill, Executive Vice President and Chairman of the Executive Committee of The Shaw Group Inc., will receive the Significant Sig Award from the Grand Chapter of Sigma Chi Fraternity. The honor will be bestowed today in a ceremony at the fraternity’s 150-year anniversary celebration in Cincinnati, Ohio. The Grand Chapter is the supreme legislative body of the Sigma Chi Fraternity and the Significant Sig award is the highest honor the fraternity can bestow on an alumnus. The award is given to alumni in recognition of their achievements and contributions to their communities. Astronaut John Young, entertainer Tom Selleck, Chicago Bears coach Mike Ditka, and Reagan press secretary Jim Brady are among the 150 Significant Sigs that will be recognized at the event.

Mr. Gill was initiated in 1962 by the Sigma Chi Gamma Iota Chapter while attending Louisiana State University. He is the fifteenth alumni in the history of the LSU Gamma Iota Chapter to receive this prestigious award.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, “On behalf of all of our employees, I want to congratulate Richard on receiving this prestigious honor. Richard is a valued member of our executive management team and is highly respected by our employees and the community-at-large. He is a loyal supporter of LSU and LSU athletics, having served as President of the Tiger Athletic Foundation. His broad community service experience and outstanding leadership abilities make him an ideal candidate to receive this esteemed award.”

James M. Bollinger, President of Total Occidental Medicine and fellow Sigma Chi alum stated, “Richard is one in a long line of outstanding Gamma Iota alums to receive the Significant Sig award. He is an outstanding leader and the consummate team player. His ability to successfully motivate people has had a significant positive impact on LSU and our community. He is very deserving of this recognition and I am thrilled that the Grand Chapter has bestowed him with this honor.”

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. With over $3 billion in revenues in fiscal 2004, Shaw is headquartered in Baton Rouge, Louisiana and 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.

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, 225-932-2546
www.shawgrp.com

SOURCE: The Shaw Group Inc.