Form 8-K                                4          Stone & Webster, Incorporated


                                     EXHIBIT

Exhibit (99)  Text of registrant's press release dated October 8, 1998 -


                              FOR IMMEDIATE RELEASE


    Stone & Webster Acquisition of The Nordic Group Completed

Boston,  Massachusetts,  October 8, 1998 - Stone & Webster (NYSE:  SW) announced
today that the  acquisition of The Nordic Group had been completed by Commercial
Cold Storage,  Inc., a wholly-owned  subsidiary of Stone & Webster.  Nordic will
continue to operate and serve  customers  as a  subsidiary  of  Commercial  Cold
Storage.

"We are pleased that the Nordic  acquisition,  which we announced in August, has
been  completed  successfully,"  said H. Kerner Smith,  Chairman,  President and
Chief Executive  Officer of Stone & Webster.  "We are confident that Nordic will
contribute  substantially to the growth of our refrigerated  warehouse  business
and allows us to provide superior  service to our customers.  And we welcome the
Nordic  management team and company  employees to our Cold Storage group,  which
now becomes  the leading  refrigerated  warehouse  distribution  business in the
Southeast."

Nordic has more than 250 employees in its 11 public  refrigerated  warehouses in
North Carolina, South Carolina, Alabama,  Mississippi, and Ohio. Commercial Cold
Storage has three refrigerated warehouses in Georgia.

Commercial  Cold  Storage has long been a leader in the  Southeast  in providing
refrigerated and frozen food handling services to  manufacturers,  distributors,
and  wholesale  and  retail  grocers.  Stone &  Webster  is a global  leader  in
engineering,    construction   and   consulting   for   the   power,    process,
environmental/infrastructure and industrial markets.

Contact:  Mr. Thomas L. Langford
          Stone & Webster
          617-589-7424

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