The Shaw Group's CEO and CFO Announce Plans for Full Compliance with SEC's Order Requiring Filing of Sworn Statements

Business Wire, August 13, 2002

Business Editors

BATON ROUGE, La.--(BUSINESS WIRE)--Aug. 13, 2002

The Shaw Group Inc. (NYSE:SGR) ("Shaw" or "the Company") today announced its Chief Executive Officer's (CEO) and Chief Financial Officer's (CFO) plans for complying with the Securities and Exchange Commission's (SEC) order to file sworn statements concerning public filings of the largest publicly held companies in the United States.

Shaw's CEO and CFO will file the sworn statements required under SEC order 4-460 no later than November 29, 2002, the due date for Shaw under the order. Shaw has an August 31 fiscal year end. Accordingly, Shaw's first covered report filed after August 14, 2002, as required by the order, is its 10-K due November 29, 2002. Companies that have a calendar fiscal year are required to file by August 14, 2002.

The Shaw Group Inc. is the world's only vertically-integrated provider of comprehensive engineering, procurement, pipe fabrication, construction and maintenance services to the power, process and environmental & infrastructure sectors. Shaw is headquartered in Baton Rouge, Louisiana, and currently has offices and operations in North America, South America, Europe, the Middle East and Asia-Pacific. Shaw employs more than 20,000 people annually. Additional information on The Shaw Group is available at www.shawgrp.com.

For additional information, please contact Christine N. Mollere, Vice President of Corporate Communications, at 225/932-2500.

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 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 web site at www.shawgrp.com.