Virginia L. Shaw Acquires Additional Shares of ShawCor Ltd.

TORONTO, May 19 /CNW/ - Shaw International S.à.r.l., a Luxembourg corporation controlled by Virginia L. Shaw, Chair of ShawCor Ltd. ("ShawCor") announces that it has acquired 22,500 Class B Multiple Voting Shares of ShawCor, representing approximately 0.17% of the outstanding Class B Multiple Voting Shares.  The Class B Multiple Voting Shares were acquired by private agreement at a price of $38 per share in reliance on the 'private agreement' exemption set forth in section 100.1 of the Securities Act (Ontario). Following completion of this acquisition, Virginia L. Shaw beneficially owns and controls, directly and indirectly, 80,000 Class A Subordinate Voting Shares (representing approximately 0.14% of the outstanding Class A Subordinate Voting Shares) and 11,716,235 Class B Multiple Voting Shares (representing approximately 89.7% of the outstanding Class B Multiple Voting Shares) of ShawCor.  Virginia L. Shaw also beneficially owns and controls securities exercisable for an additional 42,801 Class A Subordinate Voting Shares of ShawCor. The shares were acquired for investment purposes and Virginia L. Shaw reserves the right to acquire further securities of ShawCor depending on market conditions and other relevant factors.

SOURCE Shaw International S.a.r.l.

For further information:

To obtain a copy of the report filed with securities regulatory authorities regarding this purchase, please contact Darrell Ewert, Corporate Secretary of ShawCor Ltd., at 416.744.5789

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Shaw International S.a.r.l.

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