Piping Technology & Products, INC. Acquires Companies from The Shaw Group, Inc.

Houston, Texas, USA (August 31, 2004)--Piping Technology & Products, Inc. is proud to announce the acquisition of the essential assets and the manufacturing and engineering capabilities of the following companies from The Shaw Group Inc. (NYSE:SGR):

1. Shaw Fronek Company (FCI) Inc., Englewood, New Jersey

2. Shaw Pipe Supports Inc., Shreveport, Louisiana

3. Shaw A/DE, Inc., Laconia, New Hampshire

4. Shaw Pipe Shields, Inc., Vacaville, California

The Shaw Group has long been providing cost effective products for the power, petrochemical, chemical and commercial markets. PT&P is committed to upholding the standards that Shaw has set forth and will strive to make continuous improvement of all products and services. PT&P will work to understand and meet the requirements of new customers, as well as professionally execute all contracts acquired from Shaw.

“Piping Technology & Products is extremely excited about this acquisition,” said PT&P President Durga D. Agrawal. “The assets of these four companies strengthen our position as a leading producer in pipe hangers, mechanical and hydraulic snubbers, pre-insulated pipe supports and expansion joints.”

PT&P is consolidating the assets of some of the companies to the main location at 3701 Holmes Road, Houston, Texas 77051. The company can be reached via email at info@mail.pipingtech.com, by fax at 713-731-8640 or by calling 713-731-0030 or 800-787-5914. PT&P can also be visited on the web at www.pipingtech.com.

This acquisition allows PT&P to enhance the existing product lines thus offering greater value and selection. The acquired companies will operate under the following company names:

1. Fronek Company (FCI), Inc.

2. FCI Pipe Supports, Inc.

3. Fronek Anchor/Darling Enterprises, Inc.

4. Pipe Shields, Inc.

About Piping Technology & Products, Inc.

Piping Technology & Products, Inc. and its wholly owned subsidiaries, U.S.
Bellows, Inc. and Sweco Fab, Inc. manufacture a variety of high-quality engineered products. In business since 1975, PT&P has close partnerships with leading engineering and construction companies and is recognized as a leader in designing and manufacturing pipe supports, pre-insulated pipe supports and expansion joints. PT&P and its subsidiaries strive to, “DO IT RIGHT THE FIRST TIME, EVERY TIME” by providing quality products and expert service.

About The Shaw Group Inc.

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 power, process, environmental, infrastructure and emergency response markets. A Fortune 500 company, The Shaw Group is headquartered in Baton Rouge, Louisiana, and employs approximately 17,000 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 the Company’s website at www.shawgrp.com.