ShawCor Declares Quarterly Dividend

(TSX: SCL.A, SCL.B)

TORONTO, May 12, 2011 - The Board of Directors today declared a dividend of eight cents (8.0
cents) per Class A Subordinate Voting Share and a quarterly dividend of seven
and two hundred and seventy - three one thousandths cents (7.273 cents) per
Class B Multiple Voting Share payable on the 31st day of May 2011, to
shareholders of record at the close of business on the 24th day of May 2011.

For Canadian resident shareholders, these dividends are designated as
"eligible dividends" for purposes of the enhanced dividend tax credit rules
contained in the Income Tax Act (Canada) and any corresponding provincial and
territorial tax legislation.

ShawCor will be hosting a Shareholder and Analyst Conference Call and
Webcast on Friday May 13th, at 10:00 AM EDT, which will discuss the company's
first quarter 2011 financial results.

Please visit our website at www.shawcor.com for further details.

    For further information:

    Gary S. Love
    Vice President, Finance and CFO
    Telephone: +1-416-744-5818
    e-mail: glove@shawcor.com

website: www.shawcor.com

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