Shaw closes Envirogen acquisition

The Shaw Group Inc. recently announced that its subsidiary, Shaw Environmental & Infrastructure, Inc. (Shaw E & I), has acquired all of the stock of Envirogen, Inc. for an aggregate price of approximately $3.6 million dollars. The sale of Envirogen, Inc. was approved by its shareholders on March 19, 2003.

Baton rouge, Louisiana, April 2, 2003 -- The Shaw Group Inc. recently announced that its subsidiary, Shaw Environmental & Infrastructure, Inc. (Shaw E & I), has acquired all of the stock of Envirogen, Inc. for an aggregate price of approximately $3.6 million dollars. The sale of Envirogen, Inc. was approved by its shareholders on March 19, 2003.

Envirogen's core business is the application of biotechnology to remediate contaminated sites and waste streams.

Envirogen specializes in proprietary methods of remediating and treating complex contaminants including ammonium percholorate (solid propellant for rockets and missiles), MTBE (fuel additive used to make gasoline burn cleaner) and 1,4-dioxane (explosives), many of which are recognized by industry, regulators and the national press as significant environmental challenges in the United States.

Ammonium percholorate has been the recent subject of national news including several reports in the Wall Street Journal and New York Times.

"With the addition of Envirogen, Shaw will have a distinct technological and competitive edge to address the complex remediation of ammonium percholorate, MTBE, and other contaminates," said Tim Barfield, President of Shaw Environmental & Infrastructure. "This acquisition will allow Shaw E & I to take a leadership role in these key markets, by coupling our existing environmental capabilities with a more cost effective approach than the traditional approaches available in today's market."

The Shaw Group Inc. offers a broad range of services to clients in the environmental and infrastructure, power and process industries worldwide. The company is a provider of consulting, engineering, construction, remediation and facilities management services to the environmental, infrastructure and homeland security markets.

The company is also a vertically-integrated provider of comprehensive engineering, consulting, procurement, pipe fabrication, construction and maintenance services to the power and process industries.

The company is headquartered in Baton Rouge, Louisiana with offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region and employs approximately 17,000 people. For more information please visit our website at www.shawgrp.com.


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