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Shaw Awarded Construction Services Contract By Pioneer for Expansion of Chlor-Alkali Plant

Posted on: Wednesday, 25 April 2007, 18:00 CDT

The Shaw Group Inc. (NYSE: SGR) today announced that its Shaw Constructors business unit has been awarded a construction services contract by Pioneer Companies, Inc. (NASDAQ: PONR) to construct a chlor-alkali unit as part of Pioneer's previously announced expansion of its chlor-alkali plant at St. Gabriel, Louisiana. Under the contract, Shaw will perform overall construction management and site construction work including, site preparation, architectural work, and the installation of foundations, mechanical equipment, piping systems, electrical components and instrumentation. The project is scheduled to be completed in the fourth quarter of 2008. The value of Shaw's contract was not disclosed.

J.M. Bernhard, Jr., Chairman, President and Chief Executive Officer of Shaw, said, "We are very pleased to provide our construction services in support of the expansion of Pioneer's chlor-alkali facility. Shaw has a long history of executing construction projects for the petrochemical industry in Louisiana, and we look forward to successfully delivering this project for Pioneer at their St. Gabriel facility."

Pioneer, based in Houston, manufactures chlorine, caustic soda, bleach, hydrochloric acid and related products used in a variety of applications, including water treatment, plastics, pulp and paper, detergents, agricultural chemicals, pharmaceuticals and medical disinfectants. Pioneer owns and operates four chlor-alkali plants and other downstream manufacturing facilities in the United States and Canada.

The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for government and private sector clients in the energy, chemical, environmental, infrastructure, and emergency response markets. A Fortune 500 company with nearly $5 billion in annual revenues, Shaw is headquartered in Baton Rouge, Louisiana and employs approximately 21,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. For further 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 web-site 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 web site at www.shawgrp.com.

Source: Business Wire

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