The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded contracts to provide a process design package and technology license for the addition of a 30,000 barrels per day deep catalytic cracking (DCC) unit to IRPC's 215,000 barrels per day refinery in Rayong, Thailand. The upgrade project will maximize the production of polymer-grade propylene and recovery of polymer-grade ethylene to be used as feedstock for petrochemical derivative units at the same site.

Shaw also will function as the superlicensor for four additional supporting technologies provided by Axens. As superlicensor, Shaw has single point responsibility for execution and performance guarantees for these technologies.

"As superlicensor, Shaw will optimize the integration of these technologies and maximize the production of propylene and other products for our client," said James Glass, president of Shaw's Energy & Chemicals Group. "This solution will enable IRPC to move to the next level of heavy oil cracking and propylene production."

Shaw is the exclusive licensed provider of DCC technology outside of China, and together with the technology's developer, SINOPEC Research Institute of Petroleum Processing in the People's Republic of China, has licensed a total of 16 DCC units. The first DCC complex designed and engineered by Shaw was successfully commissioned in 1997 at this same site in Thailand, for Thai Petrochemical Industries, the previous name of IRPC.

Shaw also provided its technology for the world's largest DCC unit (producing in excess of 900,000 tons per year of propylene) for a grassroots high olefins fluid catalytic cracking project in the Middle East.

The undisclosed value of the process design package contract was included in Shaw's Energy & Chemical's segment's backlog of unfilled orders in the fourth quarter of fiscal year 2011. The undisclosed value of the technology license contract will be included in backlog in the second quarter of fiscal year 2012.

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 2011 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 www.shawgrp.com.

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.

The Shaw Group Inc.
Media and Financial Contact:
Gentry Brann, 225-987-7372
gentry.brann@shawgrp.com