shaw group codeofethics_11/07/06

This document outlines a Code of Ethics that the Chief Executive Officer, Chief Financial Officer, Controller, and other senior financial officers of The Shaw Group Inc. are expected to follow. The code includes 13 requirements that these officers must comply with, including acting with honesty and integrity, exercising independent judgment, providing accurate information to constituents, complying with laws and regulations, and reporting any violations of the code. Any changes or waivers to the code must be approved by the company's Board of Directors.