BATON ROUGE, La., Dec 22, 2011 (BUSINESS WIRE) --The Shaw Group Inc. (NYSE: SHAW) issued the following statement congratulating Westinghouse Electric Company for receiving final certification for the AP1000(R)nuclear power plant design from the United States Nuclear Regulatory Commission (NRC).

"The final design certification of the AP1000 reactor from the NRC is a testament to the nuclear industry's dedication to safety and dependability in reactor design," said J.M. Bernhard Jr., chairman, president and chief executive officer of Shaw. "The AP1000 design is a significant advancement in the safety of nuclear energy, and now with the design certification in place, the technology will play an important role in providing safe, clean and reliable energy for our future."

Final design certification marks the formal completion of the public comment period and rule-making activities. It also indicates approval by the NRC of a standard nuclear power plant design independent of a specific site or an application to construct or operate a plant.

Shaw and Westinghouse currently are building four new nuclear units in the United States. With two units each at Southern Co.'s Plant Vogtle and SCANA Corp.'s V.C. Summer Nuclear Generating Station, these projects represent the first contracts awarded in nearly 30 years for new nuclear builds. Combined licenses from the NRC for these two projects are expected no later than early 2012.

Shaw also is providing engineering, procurement, commissioning, information management and project management services for four AP1000 nuclear units currently under construction in China.

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 $5.9 billion, Shaw has approximately 27,000 employees around the world and is a 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 .

This press release contains forward-looking statements and information about our current and future prospects and our operations and financial results, which are based on currently available information. The forward looking statements include assumptions about our operations, such as cost controls and market conditions, that may not be realized. Actual future results and financial performance could vary significantly from those anticipated in such statements. 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.

Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed under Item 1A "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended August 31, 2011, our Quarterly Report on Form 10-Q for the quarter ended November 30, 2011, and other reports filed with the Securities and Exchange Commission (SEC). Please read our "Risk Factors" and other cautionary statements contained in these filings.

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.

SOURCE: The Shaw Group Inc. 


The Shaw Group Inc.

Gentry Brann, 225-987-7372

gentry.brann@shawgrp.com
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