Shawcor declares quarterly dividend

    (TSX: SCL.A, SCL.B)

    TORONTO, Aug. 2 /CNW/ - The Board of Directors today declared a dividend
of five and seventy-five one hundredths cents (5.75 cents) per Class A
Subordinate Voting Share and five and two hundred and twenty-five one
thousandths cents (5.225 cents) per Class B Multiple Voting Share payable on
the 31st day of August 2007, to shareholders of record at the close of
business on the 17th day of August, 2007.
    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, August 3, 2007 at 10:00 AM EDT, which will discuss the
company's second quarter 2007 financial results.
    Please visit our website at for further details.

For further information:

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

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