Week 11 is going to hold some great games

We have classified the Investment in Westinghouse as a separate operating segment. The majority of the activity related to this segment will be recorded below the operating income line. During the quarter, we have recorded interest expense, as well as other significant non-cash charges related to the investment. We believe that presenting our financial results excluding the Investment in Westinghouse segment is important to investors and management to demonstrate the profitability of our other segments, as well as to point out certain non-cash charges related to this investment.The Shaw Group Inc.

Reconciliation of Shaw Consolidated Results to Shaw Excluding Investment in Westinghouse Segmentfor the three months ended November 30, 2008(in millions, except per share data) Q1 FY 2009Quarter ended November 30, 2008Westinghouse Excluding Consolidated SegmentWestinghouseRevenues$1,900.4 $0.0 $1,900.4Cost of revenues 1,712.30.01,712.3Gross profit 188.10.0188.1General and administrative expenses73.1 0.173.0 Operating income (loss)115.0(0.1 ) 115.1Interest expense (1.7 ) 0.0(1.7 ) Interest expense on JPY-denominated bonds including accretion and amortization (9.9 ) (9.9 ) 0.0Interest income3.90.03.9Foreign currency translation gains (losses) on JPY-denominated bonds, net(161.2 ) (161.2 ) 0.0Other foreign currency transaction gains (losses), net (2.3 ) 0.0(2.3 ) Other income (expense), net(1.9 ) 0.0(1.9 )(173.1 ) (171.1 ) (2.0 ) Income (loss) before income taxes, minority interest, earnings (losses) from unconsolidated entities (58.1) (171.2 ) 113.1Provision (benefit) for income taxes (22.7) (67.0) 44.3 Income (loss) before minority interest and earnings (losses) from unconsolidated entities(35.4) (104.2 ) 68.8 Minority interest(5.9 ) 0.0(5.9 ) Income from 20 Investment in Westinghouse, net of income taxes1.51.50.0Earnings (losses) from unconsolidated entities, net of income taxes(0.1 ) 0.0(0.1 ) Net income (loss)($39.9 ) ($102.7)$62.8 Net income (loss) per common share: Basic income (loss) per common share$(0.48)$(1.23)$0.75 Diluted income (loss) per common share$(0.48)$(1.23)$0.75 Weighted average shares outstanding:Basic83.1 83.1 83.1 Diluted: 83.1 83.1 83.9 The Shaw Group Inc. Reconciliation of Shaw Consolidated Results to Shaw Excluding Investment in Westinghouse Segmentfor the three months ended November 30, 2007(in millions, except per share data) Q1 FY 2008Quarter ended November 30, 2007Westinghouse Excluding Consolidated SegmentWestinghouseRevenues$1,712.2 $0.0 $1,712.2Cost of revenues 1,577.20.01,577.2Gross profit 135.00.0135.0General and administrative expenses68.9 0.068.9 Operating income (loss)66.1 (0.0 ) 66.1 Interest expense (2.2 ) 0.0(2.2 ) Interest expense on JPY-denominated bonds including accretion and amortization (8.9 ) (8.9 ) 0.0Interest income4.80.04.8Foreign currency translation gains (losses) on JPY-denominated bonds, net(57.2) (57.2) 0.0Other foreign currency transaction gains (losses), net 1.20.01.2Other income (expense), net(0.3 ) 0.0(0.3 )(62.6) (66.1) 3.5Income (loss) before income taxes, minority interest, earnings (losses) from unconsolidated entities 3.5(66.1) 69.6 Provision (benefit) for income taxes 2.1(25.8) 27.9 Income (loss) before minority interest and earnings (losses) from unconsolidated entities1.4(40.3) 41.7 Minority interest(5.0 ) 0.0(5.0 ) Income from 20 Investment in Westinghouse, net of income taxes4.84.80.0Earnings (losses) from unconsolidated entities, net of income taxes1.00.01.0Net income (loss) $2.2($35.5 )$37.7 Net income (loss) per common share: Basic income (loss) per common share$0.03$(0.44)$0.47 Diluted income (loss) per common share$0.03$(0.42)$0.45 Weighted average shares outstanding:Basic80.7 80.7 80.7 Diluted: 83.6 83.6 83.6The Shaw Group Inc. defines EBITDA as earnings before interest expense, income taxes, depreciation and amortization. Although it is calculated using components derived from our GAAP financial statements, EBITDA itself is not a GAAP measure. The following table reflects the company's calculation of EBITDA and EBITDA percentage. Calculations of EBITDA should not be viewed as a substitute for calculations under GAAP, including cash flow from operations, operating income and net income.

In addition, EBITDA calculations by one company may not be comparable to EBITDA calculations made by another company.Reconciliation of EBITDA calculation for the three months ended November 30, 2008Q1 FY 2009 (in millions)Consolidated WestinghouseExcluding SegmentWestinghouse Net Income (Loss)$(39.9)$(102.7)$62.8 Interest Expense11.6 9.9 1.7Depreciation and Amortization 12.6 - 12.6 Provision for Income Taxes(22.7) (67.0 ) 44.3 Income Taxes on Unconsolidated Subs 0.91.1 (0.2 ) EBITDA $(37.5)$(158.7)$121.2Revenue 1,900.4N/A 1,900.4EBITDA -2.0 N/A 6.4 Reconciliation of EBITDA calculation for the three months ended November 30, 2007Q1 FY 2008 (in millions)Consolidated WestinghouseExcluding SegmentWestinghouse Net Income (Loss)$2.2 $(35.5 )$37.7 Interest Expense11.1 8.9 2.2Depreciation and Amortization 10.4 - 10.4 Provision for Income Taxes2.1(25.8 ) 27.9 Income Taxes on Unconsolidated Subs 3.53.1 0.4EBITDA $29.3$(49.3 )$78.6 Revenue 1,712.2N/A 1,712.2EBITDA 1.7 N/A 4.6The Shaw Group Inc.Financial Contact:Chris Sammons, 225-932-2546orMedia Contact:Craig Pierce, 225-987-7051 Copyright Business Wire 2009. Week 11 is going to hold some great games.Some teams pushed away from the rankings while other boost in their rankings.Now here is the information on 2009 NFL Week 11 Picks and Odds.NFL Week 11 Picks and OddsThursday, Nov 19Miami Dolphins at Carolina Panthers, 8:20 p.m.Sunday, Nov 22Cleveland Browns at Detroit Lions, 1 p.m.SanFrancisco 49ers at Green Bay Packers, 1 p.m.Washington Redskins at Dallas Cowboys, 1 p.m.Pittsburgh Steelers at Kansas City Chiefs, 1 p.m.Buffalo Bills at Jacksonville Jaguars, 1 p.m.Atlanta Falcons at NY Giants, 1 p.m.Indianapolis Colts at Baltimore Ravens, 1 p.m.NewOrleans Saints at Tampa Bay Bucs, 1 p.m.See complete NFL Week 11 Picks and Odds. . SIM2 Prototype LCD with Dolby Vision Displayed at CESLAS VEGAS(Business Wire)Dolby Laboratories, Inc. (NYSE:DLB) announced today that Dolby Vision, part ofits suite of High Dynamic Range (HDR) technologies, will be available in Q12009. In addition, the company is displaying a SIM2 prototype LCD display thatfeatures the Dolby Vision reference design at its CES booth.