Shaw Climbs 38 Spots on Fortune 500 List

Business Wire, April 21, 2008

BATON ROUGE, La. -- The Shaw Group Inc. (NYSE: SGR) announced today that it has been recognized as one of the largest corporations in the U.S., placing No. 426 on the 2008 Fortune 500 list. Shaw's ranking, based on its fiscal 2007 revenues, is the company's highest since first appearing on the list in 2003 as one of the youngest public companies in the U.S.

"Our move up the Fortune 500 list is a direct result of the company's strong and steady growth. We are proud to be recognized, and this honor is a reflection of the fine work and dedication of our employees, as well as the confidence placed in us by our clients around the globe," said J.M. Bernhard Jr., Shaw's chairman, president and chief executive officer.

Shaw's fiscal year 2007 revenues were approximately $5.7 billion, up almost 20 percent from fiscal 2006 and up 75 percent from fiscal 2005. Shaw is one of two Fortune 500 companies based in Louisiana and the only Fortune 500 company headquartered in Baton Rouge.

"In 2007, Shaw celebrated 20 years of providing solutions to its customers' most challenging power, process, infrastructure and environmental projects, yet our real growth lies ahead of us," Mr. Bernhard added.

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, chemicals, environmental, infrastructure and emergency response markets. A Fortune 500 company with fiscal 2008 annual revenues expected to exceed $7 billion, Shaw is headquartered in Baton Rouge, La., and employs approximately 27,000 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 Shaw's Web site 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.