Accounting Problems Leads to Shareholder Suit Against Stone & Webster, Announces Berman, DeValerio.

Business/Legal Editors

BOSTON--(BUSINESS WIRE)--May 30, 2000

Berman, DeValerio & Pease LLP 

Boston's largest and most experienced law firm

in representing shareholders in class action

lawsuits, issues the following press release:

Stone & Webster, Inc. ("Stone & Webster" or the "Company") (New York Stock Exchange: SW) was charged with issuing a series of false and misleading statements about the financial condition and business prospects of the Company in a shareholder class action filed by Berman, DeValerio & Pease LLP in the United States District Court for the District of Massachusetts on May 8, 2000. The case, which alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, was filed on behalf of all persons and entities who purchased the common stock of Stone & Webster during the period of April 27, 1999 through and including April 28, 2000 (the "Class Period") and who suffered losses on their investments. Named as defendants are Stone & Webster, H. Kerner Smith and Thomas Langford. The case involves a manipulation of financial statements in which, among other acts of deception, defendants knowingly or recklessly overstated S&W's results of operations, revenues, expenses, net worth and income for the fiscal year 1999.

If you purchased Stone & Webster common stock during the Class Period and suffered a loss on your investment, you may wish to contact the lawyers at Berman, DeValerio & Pease LLP to discuss your rights and interests:

Michael. M. Sullivan, Esq.

Jeffrey C. Block, Esq.

Berman, DeValerio & Pease LLP

One Liberty Square

Boston, MA 02109

E-Mail: [e-mail].

[phone]

To learn more about this action, other cases or class actions in general, you can also visit our website at www.bermanesq.com.

If you wish to apply to be Lead Plaintiff in this action, a motion must be filed on your behalf with the court no later than July 7, 2000. To be a member of the class you need not take any action at this time. To serve as lead plaintiff, however, you must meet certain legal requirements and you may retain counsel of your own choice. You may contact the attorneys at Berman, DeValerio & Pease LLP to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action.

Berman, DeValerio & Pease LLP is among the leading firms in the nation specializing in representing shareholders in securities class actions. The firm has been appointed lead counsel in numerous actions involving companies that issue false financial information, has successfully litigated these actions, and has been singled out for its excellence by many courts. The firm prides itself on its responsiveness to shareholders and their needs in particular cases.