CB&I Announces Conference Call to Confirm 2003 Guidance.

Business/Energy Editors

THE WOODLANDS, Texas--(BUSINESS WIRE)--Jan. 8, 2003

Chicago Bridge & Iron Company N.V. (NYSE:CBI) will host a brief conference call at 8 a.m. Central time (9 a.m. EST) Thursday, Jan. 9, 2003, to discuss its 2003 business plan, including guidance for key financial results, and to answer questions from participants.

During its third quarter 2002 earnings conference call, CB&I gave guidance for 2003 earnings per share, but deferred issuing guidance on new business taken and revenues pending completion of its annual planning process. Having completed that process, CB&I is now confirming previous guidance and issuing guidance for 2003 in these areas. As stated previously, the Company expects full-year 2003 earnings will be in the range of $2.60 to $2.65 per share. The Company expects 2003 new business taken will be in the range of $1.6 billion to $1.7 billion, and expects 2003 revenues will be in the range of $1.3 billion to $1.5 billion.

The Jan. 9th conference call will be broadcast live over the Internet. To access the webcast, go to www.shareholder.com/cbi/medialist.cfm and select the conference call link. Please log on to this website at least 15 minutes prior to the start of the call to register and download and install any necessary audio software. You may also access the webcast from the CB&I website (www.chicagobridge.com) by selecting "Event Calendar" under the "Investor Relations" section on the home page.

If you are unable to participate in the live call, the webcast of the conference call will be available at the websites listed above following the event. In addition, you may access a replay of the conference call by telephone at 800/642-1687 (from within the U.S.) or 706/645-9291 (from outside the U.S.), passcode 7500335. Both the archived webcast and telephone replay will be available until close of business Jan. 13, 2003.

CB&I's regular quarterly earnings conference call and webcast to discuss fourth quarter and full-year 2002 financial and operating results is scheduled for Thursday, Feb. 13, 2003. Details will be forthcoming.

In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, CB&I cautions that statements in this press release which are forward looking and which provide other than historical information involve risks, uncertainties and assumptions, and the actual outcome and results may differ materially from what is expressed. A variety of factors could cause business conditions to differ from what is expressed in the forward-looking statements including, but not limited to, the uncertain timing and the funding of new contract awards, and project cancellations and operating risks. Please see CB&I's Report on Form 10-Q for the quarter ended Sept. 30, 2002, for a more complete discussion of these and other risk factors.

CB&I is a global specialty engineering and construction company offering a complete package of design, engineering, fabrication, construction and maintenance services. Our products include hydrocarbon processing plants, LNG terminals and peak shaving plants, bulk liquid terminals, water storage and treatment facilities, and other steel structures and their associated systems. Information about CB&I is available at www.chicagobridge.com.