ShawCor Declares Quarterly Dividend

    (TSX: SCL.A, SCL.B)

    TORONTO, Feb. 19 /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 28th day of March 2008, to shareholders of record at the close of business
on the 14th day of March 2008.
    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 Wednesday, February 20th, 2008 at 10:00 AM ET, which will discuss
the company's fourth quarter 2008 financial results.
    Please visit our website at for further details.

    %SEDAR: 00002746E

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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