The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a new contract to implement a fleetwide services program for Saudi Electricity Company's oil and gas-fired power plants throughout the Kingdom of Saudi Arabia.

In April 2010, Shaw was awarded a multi-phase study to define and recommend operational improvements for Saudi Electricity Company's fleet of power plants. Under the new contract, Shaw will implement a comprehensive asset management and performance diagnostic program that will address most aspects of 37 operating power plants with a concentration on safety, maintenance, staffing, benchmarking and corporate environmental programs.

The undisclosed value of the contract will be included in Shaw's Power segment's backlog of unfilled orders in the fourth quarter of fiscal year 2012.

"The asset management and performance diagnostic program is designed to advance Saudi Electricity Company's power plant operations and maintenance to international best practices," said J.M. Bernhard Jr., Shaw's chairman, president and chief executive officer. "Shaw's proven technical and operational expertise in power generation services continues to be an asset to Saudi Electricity Company in its plans to transform the electricity industry and provide greater network reliability for the Kingdom of Saudi Arabia."

Shaw expects to continue expanding its role assisting Saudi Arabia in developing oil, gas and nuclear power to support the Kingdom's growing power generation needs. Under a separate previously announced teaming agreement, Shaw, Toshiba and Exelon are pursuing opportunities to provide a full complement of services to design, engineer, construct and operate new nuclear power plants in Saudi Arabia. The Kingdom plans to invest approximately $112 billion during the next 20 years to build 16 nuclear power units to offset rising domestic energy demand and retain its position as a leading hydrocarbons exporter.

Saudi Electricity Company is one of the largest utility companies in the world in terms of its installed power generation capacity. As the major electricity provider serving millions of customers in the Kingdom of Saudi Arabia, the company is responsible for generation, transmission and distribution of electricity throughout the Kingdom.

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 Reports on Form 10-Q for the quarters ended November 30, 2011, and February 29, 2012, 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.
Gentry Brann, 225-987-7372
gentry.brann@shawgrp.com