ShawCor Declares Quarterly Dividend

(TSX: SCL.A, SCL.B)

TORONTO, March 3 /CNW/ - The Board of Directors today declared a dividend of seven cents (7.00 cents) per Class A Subordinate Voting Share and six and three hundred and sixty-four one thousandths cents (6.364 cents) per Class B Multiple Voting Share payable on the 31st day of March 2010, to shareholders of record at the close of business on the 19th day of March 2010.

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 Thursday March 4th, at 10:00 AM EST, which will discuss the company's fourth quarter 2009 financial results.

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

SOURCE ShawCor Ltd.

For further information: For further information: Gary S. Love, Vice President, Finance and CFO, Telephone: (416) 744-5818, e-mail: glove@shawcor.com, website: www.shawcor.com

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ShawCor Ltd.

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