WILLBROS GROUP INC
			Symbol			WG

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Willbros Reports Profitable Third Quarter 2009, Increased Backlog and Improved Visibility for 2010

2009-11-04 18:02 ET - News Release

HOUSTON, TX -- (MARKET WIRE) -- 11/04/09

Willbros Group, Inc. (NYSE: WG)

-- Third quarter results reflect:
   -- Positive performance in Upstream despite loss ($0.08 per share) on an
      EPC project
   -- Cost reduction charges of $2.4 million, which along with additional
      cost saving initiatives anticipated in Q4, are expected to save $17.6
      million on an annual basis
-- Backlog increased to $501 million
-- Awarded construction of 2 spreads of the Fayetteville Express Pipeline
-- Executed NiSource Alliance Agreement
-- Formed Joint Venture with Nacap to pursue major projects in Australia
-- Annual guidance for continuing operations for 2009 reduced to $0.50-0.60
   per diluted share

Willbros Group, Inc. (NYSE: WG) announced results for the third quarter 2009: revenue of $247.5 million and net income of $1.7 million or $0.04 per diluted share. Third quarter results reflect completion of a major large diameter pipeline project, a loss on an engineering, procurement and construction ("EPC") project, as well as charges associated with meaningful cost savings initiatives. While current markets remain challenging, Willbros continues to be optimistic about 2010 based upon its increase in backlog, the first increase in five quarters, and significantly higher levels of bid activity across its business lines. As a result, management is proactively keeping in place key resources, despite the negative near term financial impact, in order to fully capitalize on an anticipated improvement in business activity beginning in the first quarter of 2010.

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