The Shaw Group Announces Multi-Site Maintenance Contract from Occidental Chemical

Business Wire, April 28, 2004

Business Editors

BATON ROUGE, La.--(BUSINESS WIRE)--April 28, 2004

The Shaw Group Inc. (NYSE:SGR) announced today that its subsidiary, Shaw Global Energy Services, Inc, has been awarded a contract by Occidental Chemical ("OxyChem") to provide mechanical maintenance services at eight of OxyChem's Gulf Coast plant sites. Under the terms of the three year deal, Shaw will initially supply approximately 350 direct maintenance craft personnel at OxyChem's Deer Park, Texas, Ingleside, Texas, and Muscle Shoals, Alabama sites, and the five sites that make up the company's Houston, Texas Chemical Complex.

Prior to this most recent contract award, Shaw supplied specialty maintenance services in several OxyChem locations. These specialty services include industrial painting, scaffolding, and insulation. Shaw will now add mechanical maintenance capabilities to those services already being provided to OxyChem.

Mike Selcer, Vice President of Shaw's Global Services Division said, "Shaw has enjoyed a longstanding relationship with OxyChem and this award illustrates their continued confidence in our value added maintenance capabilities. The Shaw Group is pleased to expand our alliance with OxyChem and to provide high-quality mechanical maintenance services to these strategic locations."

Ron McCall, President of Shaw's Maintenance Division, stated, "The Shaw Group is focused on maintaining its position as the industry's preferred source of client specific capacity solutions. The OxyChem multi-site award, one of the largest process maintenance contracts in Shaw's history, is exciting because it is an indicator of the sustained growth we have been experiencing. This rapid expansion is a result of Shaw's attention to our clients' objectives and our ability to respond swiftly and effectively to those needs."

The Shaw Group Inc. is a premier, full-service contract maintenance provider serving the petrochemical, refining, fossil power, and nuclear power industries. The Company's maintenance group is currently providing maintenance, turnaround/outage, specialty services, capital project, reliability, and engineering services for forty-six (46) major customers on one hundred and thirty-four (134) sites around the world.

The Shaw Group Inc. is a leading provider of technology, consulting, engineering, construction, remediation, and facilities management services to government and private sector clients in the environmental, infrastructure, and emergency response markets. Shaw is also a vertically integrated provider of comprehensive engineering, consulting, procurement, pipe fabrication, construction, and maintenance services to the power and process industries worldwide. The Company is headquartered in Baton Rouge, Louisiana, and employs approximately 15,000 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.

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 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 website at www.shawgrp.com.