Foster Wheeler Awarded Contracts for Shell's World-Scale Petrochemical Investment in Singapore.

HAMILTON, Bermuda -- Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its UK subsidiary, Foster Wheeler Energy Limited (FWEL), and its Singapore subsidiary, Foster Wheeler Eastern Private Limited (FWEPL), have been awarded contracts by Shell Eastern Petroleum (Pte) Ltd. (SEPL) for two basic design engineering packages (BDEP) associated with a world-scale ethylene oxide/mono-ethylene glycol (EO/MEG) plant and a significant refinery modification project in Singapore. FWEL is executing the BDEP for the new EO/MEG plant on Jurong Island and FWEPL is executing the BDEP for the modifications at Shell's Pulau Bukom Refinery, located on an adjacent island.

The terms of the awards were not disclosed and the BDEP phase of both projects were included in the company's 2005 bookings.

"Shell intends to roll over from the BDEP phase to the implementation phase with the appointment of Foster Wheeler as the engineering, procurement and construction management contractor for the EO/MEG plant and a significant part of the refinery modifications later in 2006, when the final investment decision will be taken," said Fang Yea Yee of SEPL, general manager for the project. "We are pleased to be working with Foster Wheeler and look forward to the successful outcome we expect. As Foster Wheeler was involved in the execution of a similar EO/MEG plant in our joint venture complex in China, we believe that we will be able to benefit from the expertise and lessons learned for the Singapore project."

"We are able to deliver added value to Shell by combining different strengths from within our Global Engineering and Construction (E&C) Group," said Umberto della Sala, chief executive officer, Foster Wheeler Global E&C Group. "We are one of the leading engineering, procurement and construction (EPC) contractors in Singapore with a 30-year track record of delivering safe and successful projects. With this Singapore track record and our UK operation's in-depth knowledge of the Chinese EO/MEG plant, we are uniquely positioned to build on our own demanding high standards and our excellent working relationship with Shell to deliver this new EO/MEG plant and the refinery modifications safely and successfully."

The new EO/MEG plant, scheduled for completion in 2009, will use feedstock from Shell's proposed ethylene cracker located on neighboring Bukom Island. Both the cracker and the EO/MEG plant are part of an overall investment program, which includes integration of the new facilities with Shell's existing refinery at Bukom to capture the benefits of oil-chemicals integration.

The Bukom refinery modifications, which will provide feedstock to the proposed ethylene cracker, are also due for completion in 2009. The proposed modifications include revamp of existing units, addition of new units, new and revamped tankage facilities, plus tie-ins and interconnections.

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, petrochemical, 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, visit our Web site at www.fwc.com.

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