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<TITLE>sv8</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="right" style="font-size: 10pt; margin-top: 12pt">As filed
with the Securities and Exchange Commission on March 2, 2006.<BR>
<B>Registration No.&nbsp;333-__________</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">
&nbsp;
</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 0pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 0pt"><B>THE SHAW GROUP INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of issuer as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Louisiana</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>72-1106167</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>4171 Essen Lane, Baton Rouge, Louisiana 70809</B><BR>
(Address of Principal Executive Offices) (Zip Code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>The Shaw Group Inc.<BR>
2001 Employee Incentive Compensation Plan<BR>
and<BR>
The Shaw Group Inc.<BR>
2005 Non-Employee Director Stock Incentive Plan<BR>
(f/k/a 1996 Non-Employee Director Stock Option Plan)</B><BR>
(Full Title of the Plans)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Gary P. Graphia<BR>
Secretary and General Counsel<BR>
4171 Essen Lane<BR>
Baton Rouge, LA 70809</B><BR>
(Name and address of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(225)&nbsp;932-2500</B><BR>
(Telephone number, including area code, of agent for service)</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 0pt">Copy to:<BR>
<B>J. Michael Robinson, Jr.<BR>
Kantrow, Spaht, Weaver &#038; Blitzer<BR>
(A Professional Law Corporation)<BR>
P.O. Box 2997<BR>
Baton Rouge, LA 70821-2997<BR>
(225)&nbsp;383-4703</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="57%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">Title of securities</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount to</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">offering price</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">aggregate</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount of</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">to be registered</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">be registered</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">per share (4)</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">offering price (4)</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">registration fee</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD align="center" style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common stock, no
par value (5)</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">4,000,000 shares (1)(3) 153,000 shares (2)(3)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000">$
34.00</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD nowrap align="center" valign="bottom" style="border-top: 2px solid #000000">$
141,202,000.00</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000">$
15,108.61</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>An aggregate of 5,500,000 shares of common stock issuable pursuant to the terms of
the registrant&#146;s 2001 Employee Incentive Compensation Plan were previously registered pursuant to
(i)&nbsp;a Registration Statement on Form S-8 (File No.&nbsp;333-62856); (ii)&nbsp;a Registration Statement on
Form S-8 (File No.&nbsp;333-105520); and (iii)&nbsp;a Registration Statement on Form S-8 (File No.
333-115154).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>The registrant&#146;s 1996 Non-Employee Director Stock Option Plan has been amended and restated as
of January&nbsp;27, 2006, and is now titled as the registrant&#146;s &#147;2005 Non-Employee Director Stock
Incentive Plan&#148;. An aggregate of 300,000 shares of common stock issuable pursuant to the terms of
the registrant&#146;s 2005 Non-Employee Director Stock Incentive Plan (f/k/a/ the 1996 Non-Employee
Director Stock Option Plan) were previously registered on (i)&nbsp;a
Registration Statement on Form S-8 (File No.&nbsp;333-36315); (ii)&nbsp;a Registration Statement on Form S-8
(File No.&nbsp;333-62852); and (iii)&nbsp;a Registration Statement on Form S-8 (File No.&nbsp;333-115154).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>There are also being registered hereunder such additional indeterminate number of shares as
may be issuable under the registrant&#146;s 2001 Employee Incentive Compensation Plan and the
registrant&#146;s 2005 Non-Employee Director Stock Incentive Plan by reason of stock dividends or
through recapitalization resulting in stock split-ups, combinations or exchange of shares.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Based upon total of 4,153,000 shares of common stock. Pursuant to paragraphs (c)&nbsp;and (h)&nbsp;of
Rule&nbsp;457, the proposed maximum offering price per share and the proposed maximum aggregate offering
price have been computed based on the average of the high and low sale prices of the common stock
reported on the New York Stock Exchange on March 1, 2006.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes preferred share purchase rights. Until the occurrence of certain prescribed events,
none of which has occurred, the preferred share purchase rights are not exercisable, are evidenced
by certificates representing shares of the common stock, and will be transferred only with shares
of the common stock. The value, if any, attributable to the rights is included in the market price
of the common stock.</TD>
</TR>

</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">










<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
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	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000"> PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002"> SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003"> EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="d33478exv5w1.htm">Opinion/Consent of Kantrow, Spaht, Weaver & Blitzer</A></TD></TR>
<TR><TD colspan="9"><A HREF="d33478exv23w2.htm">Consent of Ernst & Young LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="d33478exv23w3.htm">Notice concerning Arthur Anderson LLP</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>





<DIV align="center" style="font-size: 10pt; margin-top: 18pt">EXPLANATORY NOTE
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement registers an additional 4,153,000 shares of the registrant&#146;s
common stock, no par value per share, which includes (i)&nbsp;4,000,000 shares issuable pursuant to the
registrant&#146;s 2001 Employee Incentive Compensation Plan (the &#147;Employee Plan&#148;) and (ii)&nbsp;153,000
issuable pursuant to the registrant&#146;s 2005 Non-Employee Director Stock Incentive Plan (formerly,
the 1996 Non-Employee Director Stock Option Plan) (the &#147;Director Plan&#148;). Pursuant to General
Instruction E of Form S-8, the contents of (a)&nbsp;the registrant&#146;s Registration Statement on Form S-8,
SEC File No.&nbsp;333-62856, which was filed with the Securities and Exchange Commission (the &#147;SEC&#148;) on
June&nbsp;12, 2001 (the &#147;Initial Employee Plan Registration Statement&#148;) and (b)&nbsp;the registrant&#146;s
Registration Statement on Form S-8, SEC File No.&nbsp;333-36315, which was filed with the SEC on
September&nbsp;24, 1997 (the &#147;Initial Director Plan Registration Statement&#148;, and together with the
Initial Employee Plan Registration Statement, the &#147;Initial Registration Statements&#148;) are hereby
incorporated by reference, including each of the documents filed by the registrant with the SEC and
incorporated or deemed incorporated by reference in the Initial Registration Statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 " PART II " -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PART II
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
</DIV>
<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description of Document</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.1</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series&nbsp;A Junior Participating Preferred Stock Purchase Rights (incorporated by
reference to Exhibit&nbsp;1 of the Company&#146;s Registration Statement on Form&nbsp;8-A filed with
the Securities and Exchange Commission on July&nbsp;30, 2001).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.2</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Shaw Group Inc. 2001 Employee Incentive Compensation Plan (as amended and
restated through January&nbsp;27, 2006) (incorporated by reference to the designated Exhibit
to the Company&#146;s current Report on Form&nbsp;8-K filed with the Securities and Exchange
Commission on January&nbsp;31, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.3</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Shaw Group Inc. 2005 Non-Employee Director Stock Incentive Plan (as amended
and restated through January&nbsp;27, 2006) (incorporated by reference to the designated
Exhibit to the Company&#146;s current Report on Form&nbsp;8-K filed with the Securities and
Exchange Commission on January&nbsp;31, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5.1</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Kantrow, Spaht, Weaver &#038; Blitzer (A Professional Law Corporation)
(filed herewith).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">23.1</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Kantrow, Spaht, Weaver &#038; Blitzer (A Professional Law Corporation)
(included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">23.2</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP (filed herewith).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">23.3</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice concerning Arthur Andersen LLP (filed herewith).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">24.1</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (included on the signature page of this Registration
Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">II-1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 " SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Baton Rouge, State of
Louisiana on March 2, 2006.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">THE SHAW GROUP INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;Gary P. Graphia</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gary P. Graphia&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secretary and General Counsel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">POWER OF ATTORNEY
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby authorizes Robert L. Belk and Gary P. Graphia
and each of them acting individually, with full power of substitution, to file one or more
amendments, including post-effective amendments, to this registration statement, and to file the
same, with all exhibits thereto, and all documents in connection therewith with the Securities and
Exchange Commission, which amendments, may make such changes as Robert L. Belk or Gary P. Graphia
deems appropriate; and each person whose signature appears below, individually and in each capacity
stated below, hereby appoints Robert L. Belk and Gary P. Graphia, and either of them acting
individually, with full power of substitution, as Attorney-in-Fact to execute in his name and on
his behalf any such amendments to this registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;J.M. Bernhard, Jr.
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>J.M. Bernhard, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board and
Chief Executive Officer (Principal
Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;Robert
L.
Belk<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>Robert
L. Belk</div>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President, Chief
Financial Officer and Treasurer
(Principal Financial Officer and
Principal Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;T.A. Barfield, Jr.
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
T.A. Barfield, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President and Chief Operating Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;James F. Barker
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
James F. Barker
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;L. Lane Grigsby
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
L. Lane Grigsby
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;Daniel E. Hoffler
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Daniel E. Hoffler
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>



<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">II-2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;David W. Hoyle
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
David W. Hoyle
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;Albert McAlister
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Albert McAlister
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;Charles E. Roemer, III
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Charles E. Roemer, III
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;John W. Sinders, Jr.
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
John W. Sinders, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;2, 2006</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">II-3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 " EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description of Document</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.1</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series&nbsp;A Junior Participating Preferred Stock Purchase Rights
(incorporated by reference to Exhibit&nbsp;1 of the Company&#146;s Registration
Statement on Form&nbsp;8-A filed with the Securities and Exchange Commission
on July&nbsp;30, 2001).</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.2</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Shaw Group Inc. 2001 Employee Incentive Compensation Plan
(as amended and restated through January&nbsp;27, 2006) (incorporated by
reference to the designated Exhibit to the Company&#146;s current Report on
Form&nbsp;8-K filed with the Securities and Exchange Commission on January
31, 2006).</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.3</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Shaw Group Inc. 2005 Non-Employee Director Stock Incentive
Plan (as amended and restated through January&nbsp;27, 2006) (incorporated
by reference to the designated Exhibit to the Company&#146;s current Report
on Form&nbsp;8-K filed with the Securities and Exchange Commission on
January&nbsp;31, 2006).</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5.1</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Kantrow, Spaht, Weaver &#038; Blitzer (A Professional Law
Corporation) (filed herewith).</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">23.1</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Kantrow, Spaht, Weaver &#038; Blitzer (A Professional Law
Corporation) (included in Exhibit&nbsp;5.1).</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">23.2</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP (filed herewith).</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">23.3</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice concerning Arthur Andersen LLP (filed herewith).</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">24.1</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (included on the signature page of this
Registration Statement).</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">II-4
</DIV>

</BODY>
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sv8
Table of Contents
As filed
with the Securities and Exchange Commission on March 2, 2006.
Registration No. 333-__________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
THE SHAW GROUP INC.
(Exact name of issuer as specified in its charter)
Louisiana
72-1106167
(State or other jurisdiction of
(I.R.S. Employer Identification No.)
incorporation or organization)
4171 Essen Lane, Baton Rouge, Louisiana 70809
(Address of Principal Executive Offices) (Zip Code)
The Shaw Group Inc.
2001 Employee Incentive Compensation Plan
and
The Shaw Group Inc.
2005 Non-Employee Director Stock Incentive Plan
(f/k/a 1996 Non-Employee Director Stock Option Plan)
(Full Title of the Plans)
Gary P. Graphia
Secretary and General Counsel
4171 Essen Lane
Baton Rouge, LA 70809
(Name and address of agent for service)
(225) 932-2500
(Telephone number, including area code, of agent for service)
Copy to:
J. Michael Robinson, Jr.
Kantrow, Spaht, Weaver & Blitzer
(A Professional Law Corporation)
P.O. Box 2997
Baton Rouge, LA 70821-2997
(225) 383-4703
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities
Amount to
offering price
aggregate
Amount of
to be registered
be registered
per share (4)
offering price (4)
registration fee
Common stock, no
par value (5)
4,000,000 shares (1)(3) 153,000 shares (2)(3)
$
34.00
$
141,202,000.00
$
15,108.61
(1)
An aggregate of 5,500,000 shares of common stock issuable pursuant to the terms of
the registrant's 2001 Employee Incentive Compensation Plan were previously registered pursuant to
(i) a Registration Statement on Form S-8 (File No. 333-62856); (ii) a Registration Statement on
Form S-8 (File No. 333-105520); and (iii) a Registration Statement on Form S-8 (File No.
333-115154).
(2)
The registrant's 1996 Non-Employee Director Stock Option Plan has been amended and restated as
of January 27, 2006, and is now titled as the registrant's "2005 Non-Employee Director Stock
Incentive Plan". An aggregate of 300,000 shares of common stock issuable pursuant to the terms of
the registrant's 2005 Non-Employee Director Stock Incentive Plan (f/k/a/ the 1996 Non-Employee
Director Stock Option Plan) were previously registered on (i) a
Registration Statement on Form S-8 (File No. 333-36315); (ii) a Registration Statement on Form S-8
(File No. 333-62852); and (iii) a Registration Statement on Form S-8 (File No. 333-115154).
(3)
There are also being registered hereunder such additional indeterminate number of shares as
may be issuable under the registrant's 2001 Employee Incentive Compensation Plan and the
registrant's 2005 Non-Employee Director Stock Incentive Plan by reason of stock dividends or
through recapitalization resulting in stock split-ups, combinations or exchange of shares.
(4)
Based upon total of 4,153,000 shares of common stock. Pursuant to paragraphs (c) and (h) of
Rule 457, the proposed maximum offering price per share and the proposed maximum aggregate offering
price have been computed based on the average of the high and low sale prices of the common stock
reported on the New York Stock Exchange on March 1, 2006.
(5)
Includes preferred share purchase rights. Until the occurrence of certain prescribed events,
none of which has occurred, the preferred share purchase rights are not exercisable, are evidenced
by certificates representing shares of the common stock, and will be transferred only with shares
of the common stock. The value, if any, attributable to the rights is included in the market price
of the common stock.
TABLE OF CONTENTS
PART II
Item 8. Exhibits
SIGNATURES
EXHIBIT INDEX
Opinion/Consent of Kantrow, Spaht, Weaver & Blitzer
Consent of Ernst & Young LLP
Notice concerning Arthur Anderson LLP
Table of Contents
EXPLANATORY NOTE
This Registration Statement registers an additional 4,153,000 shares of the registrant's
common stock, no par value per share, which includes (i) 4,000,000 shares issuable pursuant to the
registrant's 2001 Employee Incentive Compensation Plan (the "Employee Plan") and (ii) 153,000
issuable pursuant to the registrant's 2005 Non-Employee Director Stock Incentive Plan (formerly,
the 1996 Non-Employee Director Stock Option Plan) (the "Director Plan"). Pursuant to General
Instruction E of Form S-8, the contents of (a) the registrant's Registration Statement on Form S-8,
SEC File No. 333-62856, which was filed with the Securities and Exchange Commission (the "SEC") on
June 12, 2001 (the "Initial Employee Plan Registration Statement") and (b) the registrant's
Registration Statement on Form S-8, SEC File No. 333-36315, which was filed with the SEC on
September 24, 1997 (the "Initial Director Plan Registration Statement", and together with the
Initial Employee Plan Registration Statement, the "Initial Registration Statements") are hereby
incorporated by reference, including each of the documents filed by the registrant with the SEC and
incorporated or deemed incorporated by reference in the Initial Registration Statements.
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8. Exhibits
Exhibit No.
Description of Document
4.1
Series A Junior Participating Preferred Stock Purchase Rights (incorporated by
reference to Exhibit 1 of the Company's Registration Statement on Form 8-A filed with
the Securities and Exchange Commission on July 30, 2001).
4.2
The Shaw Group Inc. 2001 Employee Incentive Compensation Plan (as amended and
restated through January 27, 2006) (incorporated by reference to the designated Exhibit
to the Company's current Report on Form 8-K filed with the Securities and Exchange
Commission on January 31, 2006).
4.3
The Shaw Group Inc. 2005 Non-Employee Director Stock Incentive Plan (as amended
and restated through January 27, 2006) (incorporated by reference to the designated
Exhibit to the Company's current Report on Form 8-K filed with the Securities and
Exchange Commission on January 31, 2006).
5.1
Opinion of Kantrow, Spaht, Weaver & Blitzer (A Professional Law Corporation)
(filed herewith).
23.1
Consent of Kantrow, Spaht, Weaver & Blitzer (A Professional Law Corporation)
(included in Exhibit 5.1).
23.2
Consent of Ernst & Young LLP (filed herewith).
23.3
Notice concerning Arthur Andersen LLP (filed herewith).
24.1
Powers of Attorney (included on the signature page of this Registration
Statement).
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Baton Rouge, State of
Louisiana on March 2, 2006.
THE SHAW GROUP INC.
By:
/s/ Gary P. Graphia
Gary P. Graphia
Secretary and General Counsel
POWER OF ATTORNEY
Each person whose signature appears below hereby authorizes Robert L. Belk and Gary P. Graphia
and each of them acting individually, with full power of substitution, to file one or more
amendments, including post-effective amendments, to this registration statement, and to file the
same, with all exhibits thereto, and all documents in connection therewith with the Securities and
Exchange Commission, which amendments, may make such changes as Robert L. Belk or Gary P. Graphia
deems appropriate; and each person whose signature appears below, individually and in each capacity
stated below, hereby appoints Robert L. Belk and Gary P. Graphia, and either of them acting
individually, with full power of substitution, as Attorney-in-Fact to execute in his name and on
his behalf any such amendments to this registration statement.
Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ J.M. Bernhard, Jr.
J.M. Bernhard, Jr.
Chairman of the Board and
Chief Executive Officer (Principal
Executive Officer)
March 2, 2006
/s/ Robert
L.
Belk
Robert
L. Belk
Executive Vice President, Chief
Financial Officer and Treasurer
(Principal Financial Officer and
Principal Accounting Officer)
March 2, 2006
/s/ T.A. Barfield, Jr.
T.A. Barfield, Jr.
President and Chief Operating Officer
March 2, 2006
/s/ James F. Barker
James F. Barker
Director
March 2, 2006
/s/ L. Lane Grigsby
L. Lane Grigsby
Director
March 2, 2006
/s/ Daniel E. Hoffler
Daniel E. Hoffler
Director
March 2, 2006
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Table of Contents
Signature
Title
Date
/s/ David W. Hoyle
David W. Hoyle
Director
March 2, 2006
/s/ Albert McAlister
Albert McAlister
Director
March 2, 2006
/s/ Charles E. Roemer, III
Charles E. Roemer, III
Director
March 2, 2006
/s/ John W. Sinders, Jr.
John W. Sinders, Jr.
Director
March 2, 2006
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Table of Contents
EXHIBIT INDEX
Exhibit No.
Description of Document
Page
4.1
Series A Junior Participating Preferred Stock Purchase Rights
(incorporated by reference to Exhibit 1 of the Company's Registration
Statement on Form 8-A filed with the Securities and Exchange Commission
on July 30, 2001).
4.2
The Shaw Group Inc. 2001 Employee Incentive Compensation Plan
(as amended and restated through January 27, 2006) (incorporated by
reference to the designated Exhibit to the Company's current Report on
Form 8-K filed with the Securities and Exchange Commission on January
31, 2006).
4.3
The Shaw Group Inc. 2005 Non-Employee Director Stock Incentive
Plan (as amended and restated through January 27, 2006) (incorporated
by reference to the designated Exhibit to the Company's current Report
on Form 8-K filed with the Securities and Exchange Commission on
January 31, 2006).
5.1
Opinion of Kantrow, Spaht, Weaver & Blitzer (A Professional Law
Corporation) (filed herewith).
23.1
Consent of Kantrow, Spaht, Weaver & Blitzer (A Professional Law
Corporation) (included in Exhibit 5.1).
23.2
Consent of Ernst & Young LLP (filed herewith).
23.3
Notice concerning Arthur Andersen LLP (filed herewith).
24.1
Powers of Attorney (included on the signature page of this
Registration Statement).
II-4