The Shaw Group Recognized for Outstanding Safety.

Energy Editors/Business Editors

BATON ROUGE, La.--(BUSINESS WIRE)--June 11, 2004

The Shaw Group Inc. (NYSE:SGR) today announced that it has recently been recognized by the National Petrochemical and Refineries Association (NPRA) for outstanding safety records at two of its projects, based on 2003 performance covering over 500,000 hours worked. The Shaw Group also announced that it has been recognized for its outstanding safety programs by the Occupation Safety and Health Administration (OSHA) and the Royal Society for the Prevention of Accident (RoSPA).

The Shaw Group's Stone & Webster Construction, Inc. unit performing general maintenance services at the Catlettsburg, Kentucky Refinery owned by Marathon Ashland Petroleum LLC received the NPRA Meritorious Safety Performance award covering 322,000 hours worked in 2003. The Shaw Group's Shaw Constructors, Inc. unit performing general maintenance services at Placid Refining Company LLC's Port Allen, Louisiana Refinery also received the NPRA Meritorious Safety Performance award covering 210,000 hours worked in 2003. The Meritorious Safety Performance award is presented to facilities operated by NPRA member companies for achieving a total recordable incident rate significantly below the industry average.

NPRA President Bob Slaughter said, "Now in its 22nd year, NPRA's Safety Awards Program recognizes those facilities that for the past year have achieved the highest possible safety standards in their daily operations and in their products and services. These awards really honor the men and women who are on the front lines of operations at the nation's refineries and petrochemical facilities. They are everyday heroes who understand that superior safety performance and environmental compliance are critical not only to business success but to safeguarding the communities where they operate and the nation."

On June 4, 2004, OSHA notified The Shaw Group's Shaw Global Energy Services, Inc. unit of Voluntary Protection Program (VPP) certifications at six operating sites, manned by over 600 workers. VPP certification signifies effective worksite-based safety and health programs, in which management, labor, and OSHA have established cooperative relationships and implemented a comprehensive safety and health management system. The VPP designation is OSHA's official recognition of exemplary occupational safety and health programs. The VPP certifications were made to Shaw Global Energy Service units at the following sites: OxyVinyls, Battleground C/A and Pasadena PVC (both in Pasadena, Texas); Deer Park Caustic, Deer Park PVC, Deer Park VCM, and LaPorte VCM (all in Deer Park, Texas).

The Shaw Group also announced that its Stone & Webster Limited and Shaw Group UK Limited units received RoSPA's prestigious Gold Medal Award for demonstrating continued safety performance improvement. The award recognizes companies that have not only reduced the incidence of accidents and illness in the workplace, but have also established outstanding programs to ensure that good health and safety management systems are in place, clearly demonstrating the organization's commitment to high standards of health and safety.

RoSPA is a registered charity in the United Kingdom established over 80 years ago. RoSPA provides information, advice, resources and training for the promotion of safety in all areas of life - at work, in the home, and the road, in schools, at leisure, and on or near water.

Tim Barfield, President and Chief Operating Officer, said, "Shaw is firmly committed to operating all of its facilities and projects in a safe, efficient manner and in compliance with all applicable safety, health and environmental regulations. The achievement of these awards and the recognition of our safety programs as outstanding are a result of our emphasis on safety as a top priority. These achievements make us all extremely proud to be a part of The Shaw Group and are fundamental for the success of our business.

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 power, process, environmental, infrastructure and emergency response markets. A Fortune 500 company, The Shaw Group is headquartered in Baton Rouge, Louisiana and employs approximately 17,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region.

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 website 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 website at www.shawgrp.com.