Foster Wheeler Awarded Study for Advanced Coal-Fired Power Plant Using IGCC Technology.

HAMILTON, Bermuda -- Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its Milan-based subsidiary Foster Wheeler Italiana S.p.A., part of its Global Engineering and Construction Group, has been awarded a contract by the United States -based Electric Power Research Institute (EPRI) for a feasibility and optimization study covering the "Engineering and economic assessment of Integrated Gasification Combined Cycle (IGCC) coal power plants for near-term deployment."

The value of the contract was not disclosed and it has been included in Foster Wheeler's second-quarter 2007 bookings.

Foster Wheeler will undertake a technical and economic evaluation of thirty IGCC designs, processing different coals with five alternative gasification technologies, with and without carbon dioxide capture. The study is scheduled for completion by March 2008.

This work is being performed as part of EPRI's Coal Fleet for Tomorrow Program, a collaboration involving more than 60 power industry companies to encourage the early deployment of advanced coal power generation technology.

"We are very pleased to have won this prestigious contract from EPRI," said Marco Moresco, chief executive officer of Foster Wheeler Italiana. "We believe that this award reflects the quality of our IGCC experience and capability and will lead to tangible environmental benefits in our increasingly carbon-constrained world."

About the Electric Power Research Institute: The Electric Power --Research Institute (EPRI), with major locations in Palo Alto, Calif., Charlotte, N.C., and Knoxville, Tenn., was established in 1973 as an independent, nonprofit center for public interest energy and environmental research. EPRI brings together member organizations, the Institute's scientists and engineers, and other leading experts to work collaboratively on solutions to the challenges of electric power. These solutions span nearly every area of power generation, delivery, and use, including health, safety, and environment. EPRI's members represent over 90% of the electricity generated in the United States. International participation represents nearly 15% of EPRI's total R&D program. For more information, visit www.epri.com.

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 upstream oil and gas, LNG and gas-to-liquids, refining, 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 www.fwc.com.

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