Foster Wheeler Awarded CFB Boiler Island in Brazil.

HAMILTON, Bermuda -- Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that Foster Wheeler Energia Oy, part of its Global Power Group, has been awarded a contract by Votorantim Metais Niquel S.A. (VMN) to design and supply a circulating fluidized-bed (CFB) boiler island adjacent to VMN's plant located in Acampamento Macedo, Niquelandia city near Brazilia, Brazil's capital.

VMN is a company of Votorantim Group, one of the largest private industrial conglomerates in Brazil with consolidated net revenues of R$ 19 billion in 2005, and the leading producer of electrolyte nickel in Latin America.

The terms of the award, which were included in the company's third-quarter bookings, were not disclosed.

Foster Wheeler's scope includes the design and supply of a petroleum coke-fired 150 megawatt thermal CFB boiler, auxiliary equipment, instrumentation and a burner management and boiler protection system, boiler house steel construction, and advisory services for erection and commissioning. The boiler island, which will generate electricity and process steam to be used in the production of nickel, is scheduled to commence commercial operation in November 2008.

"We are delighted with this award, which is our second CFB win in Brazil during the last twelve months," said James E. Stone, chief executive officer, Foster Wheeler Power Group Europe. "This award confirms our client's confidence in our leading CFB technology, which is ideally suited to burning petroleum coke efficiently and with low emissions. The boiler will also be capable of firing up to 10 percent biomass."

"This is an important project for Votorantim Metais as it is our first CFB investment," said Jose Roberto Piagentini, general manager of engineering, Votorantim Metais S.A. "We decided to select the best technology available on the market with a reliable partner for project execution."

Notes to Editors:

1. Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development and management, research and plant operation services. Foster Wheeler serves the refining, upstream oil and gas, LNG and gas-to-liquids, petrochemicals, chemicals, power, pharmaceuticals, biotechnology and healthcare industries. The corporation is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at http://www.fwc.com.

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