Shaw to Assist Toshiba in Providing Support Services at Fukushima Daiichi Nuclear Power Plant

In response to the tragic events in Japan, The Shaw Group Inc. (NYSE: SHAW) will assist Toshiba Corporation in providing support services for the Fukushima Daiichi nuclear power station in Japan. End Quote

(1888PressRelease) July 02, 2011 - As an extension of the relationship the two companies have shared since 2006, Shaw will assist Toshiba with mitigation, remediation and recovery services at the plant. A team of experts from Shaw's Power and Environmental & Infrastructure Groups has mobilized to provide services both on the ground in Japan, as well as engineering, analysis, assessment and design from the U.S.

"The people of Japan have experienced an extraordinary tragedy. It is our hope that Shaw's nuclear, remediation and emergency response expertise will assist in bringing prompt resolution and relief to the situation at the Fukushima Daiichi nuclear power station," said J.M. Bernhard Jr., Shaw's chairman, president and chief executive officer. "Our relationship with Toshiba spans the globe. We are ready to help our partners and friends in their response to the events that resulted from this unprecedented natural disaster."

Shaw has extensive experience in nuclear, environmental and natural disaster services. In the aftermath of some of the largest disasters in recent history, Shaw rapidly and effectively mobilized its workforce to provide support following the events at Three Mile Island and Chernobyl nuclear power plants, hurricanes Katrina, Rita and Wilma and earthquakes in Haiti, Northridge, Calif., and Sumatra.

The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.

This press release contains forward-looking statements and information about our current and future prospects, operations and financial results, which are based on currently available information. Actual future results and financial performance could vary significantly from those anticipated in such statements.

Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended February 28, 2010, May 31, 2010 and November 30, 2010, and other reports filed with the Securities and Exchange Commission (SEC). Please read our "Risk Factors" and other cautionary statements contained in these filings. Our current expectations may not be realized as a result of, among other things:

• Changes in our clients' financial conditions, including their capital spending;
• Our ability to obtain new contracts and meet our performance obligations;
• Client contract cancellations or modifications to contract scope;
• Worsening global economic conditions;
• Changes to the regulatory environment;
• Litigation or arbitration decisions;
• Failure to achieve projected backlog.

As a result of these risks and others, actual results could vary significantly from those anticipated in this press release, and our financial condition and results of operations could be materially adversely affected. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events or otherwise.

SOURCE: The Shaw Group Inc.
The Shaw Group Inc.
Gentry Brann, 225-987-7372
gentry.brann ( @ ) shawgrp dot com

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