ShawCor Renews Normal Course Issuer Bid

By Shawcor Ltd., PRNE
Monday, November 29, 2010

TORONTO, November 30, 2010 - ShawCor Ltd. ("ShawCor") (TSX: SCL.A, SCL.B) today announced that it has
received approval from the Toronto Stock Exchange ("TSX") to renew its normal
course issuer bid for a further one year period. ShawCor's normal course
issuer bid will now expire on November 30, 2011 in accordance with rules of
the TSX.

Under ShawCor's previously approved issuer bid entered into on December
1, 2004
and last renewed on December 1, 2009, ShawCor has purchased an
aggregate of 5,573,600 Class A Subordinate Voting Shares (the "Class A
Shares") at a weighted average price of $25.38. All such shares have been

As approved by the TSX, during the period of December 1, 2010 to November
30, 2011
, ShawCor is now authorized to acquire, through the facilities of
TSX, up to 2,000,000 of the currently issued and outstanding Class A Shares
and up to 100,000 of the currently issued and outstanding Class B Multiple
Voting Shares (the "Class B Shares"). These two amounts comprise
approximately 3.89% and 7.45% of the public float outstanding as at November
24, 2010
for Class A Shares and Class B Shares respectively. Daily purchases
will be limited to 28,238 Class A Shares and 1,000 Class B Shares, other than
block purchase exemptions. All Class A Shares and Class B Shares purchased
under the normal course issuer bid will be cancelled.

The Board of Directors of ShawCor has initiated this normal course issuer
bid because the Board believes that the ShawCor shares are an attractive
investment at appropriate market prices, are a prudent use of funds, and will
provide additional liquidity to shareholders.

As at November 24, 2010 there were 57,557,379 Class A Shares and
13,058,073 Class B Shares issued and outstanding.

ShawCor is an energy service company specializing in products and
services for the pipeline and pipe services and the petrochemical and
industrial segments of oil and gas industry. The Company operates through
seven divisions with over sixty manufacturing and service facilities located
around the world.

    For further information:

    Gary Love
    Vice President, Finance and CFO
    Telephone: +1-416-744-5818


For further information: Gary Love, Vice President, Finance and CFOTelephone: +1-416-744-5818, e-mail: glove at

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