Very high speed and low area hardware architectures of the SHACAL-1 encryption algorithm are presented in this paper. The SHACAL algorithm was a submission to the New European Schemes for Signatures, Integrity and Encryption (NESSIE) project and it is based on the SHA-1 hash algorithm. To date, there have been no performance metrics published on hardware implementations of this algorithm. A fully pipelined SHACAL-1 encryption architecture, is described in this paper and when implemented on a Virtex-II X2V4000 FPGA device, it runs at a throughput of 17 Gbps. A fully pipelined decryption architecture achieves a speed of 13 Gbps when implemented on the same device. In addition, iterative architectures of the algorithm are presented. The SHACAL-1 decryption algorithm is derived and also presented in this paper, since it was not provided in the submission to NESSIE.