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Shaw Awarded Multi-Phase Contract with Saudi Electricity Company

"Shaw has a unique position in the power industry that allows us to provide multi-faceted services for our clients," said J.M. Bernhard Jr., chairman, president and chief executive officer of Shaw. "In addition to the contracted work on the existing power plants, we believe our relationship and previous experience in the area, along with our leading position in the nuclear industry, positions us for significant future opportunities in Saudi Arabia and throughout the Middle East. We are looking forward to a long, successful relationship with Saudi Electricity Company."

Shaw's contract was signed just before King Abdullah of Saudi Arabia announced his country's commitment to the research and funding of nuclear power. A royal order was issued establishing the King Abdullah City for Nuclear and Renewable Energy, a high-level organization that will oversee all aspects of a nuclear power industry in Saudi Arabia.

Shaw recently completed a grassroots ethylene plant in Al-Jubail, Saudi Arabia, and has operations and offices in locations throughout the region. Shaw offers a premier portfolio of nuclear, fossil and renewable power expertise, delivering safe, efficient and clean energy solutions around the world. Shaw and its consortium team member, Westinghouse, are under contract to provide engineering, procurement and construction services for six new nuclear units in the U.S., the first contracts awarded in nearly 30 years for new nuclear power plants, as well as four units currently under construction in China.

The undisclosed value of the contract will be included in Shaw's Fossil, Renewables & Nuclear segment's backlog of unfilled orders in the third quarter of fiscal year 2010.

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 2009 annual revenues of $7.3 billion, Shaw has approximately 28,000 employees around the world. For more information, please visit Shaw's website 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 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.

The Shaw Group Inc.
Financial Contact:
Chris Sammons, 225-932-2546
chris.sammons@shawgrp.com
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Media Contact:
Gentry Brann, 225-987-7372
gentry.brann@shawgrp.com