Foster Wheeler Awarded Front-End Engineering Design for Pluto LNG in Australia.

HAMILTON, Bermuda -- Foster Wheeler Ltd. (Nasdaq:FWLT) announced today that its subsidiary Foster Wheeler Energy Limited, part of its Global Engineering and Construction Group, has been selected by Woodside Energy Ltd. to undertake the front-end engineering design (FEED) for Woodside's planned Pluto Liquefied Natural Gas (LNG) development in Western Australia. Foster Wheeler is leading a joint venture with WorleyParsons Services Pty Ltd. (the FWWP joint venture) in executing the FEED for this new liquefaction facility.

The Foster Wheeler contract value was not disclosed and the project is expected to be included in the company's third-quarter 2006 bookings.

As part of the FEED, the FWWP joint venture will use its knowledge of the global LNG industry and the Western Australian labor market to develop an execution strategy in line with Woodside's planned pace-setting schedule for Pluto. The joint venture has already completed the preliminary design package and studies for this project.

"This FEED award reflects our ability to add value for our client by providing in-depth liquefaction technical and project execution expertise, and high-quality project planning to assist Woodside in achieving its accelerated FEED program for Pluto," said Steve Davies, chairman and chief executive officer of Foster Wheeler Energy Limited. "Woodside has indicated that, subject to a final investment decision in mid 2007, it will take a decision on Foster Wheeler and its joint venture partner continuing as the contractor for the engineering, procurement and construction phase. Foster Wheeler is also leading the FWWP joint venture which is executing the engineering, procurement and construction of the fifth LNG liquefaction train at the Woodside-operated Karratha Gas Plant in Australia."

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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