Foster Wheeler Wins Contract for Terrace-Wall(TM) Reformer and Fired Heaters at Bangchak Refinery, Thailand.

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 awarded an engineering and materials supply contract for a Terrace-Wall[TM] reformer and three fired heaters by CTCI Corporation. CTCI is the engineering, procurement & construction (EPC) prime contractor for the Bangchak Petroleum Public Co. Ltd.'s Product Quality Improvement project at its refinery in Thailand. The objective of the project is to upgrade fuel oil to produce higher-value products such as gasoline, kerosene and diesel.

The Foster Wheeler contract value was not disclosed and the award was included in the company's fourth-quarter 2006 bookings.

The project includes a hydrogen production plant, which will use steam-reforming technology licensed from Foster Wheeler and a Foster Wheeler Terrace-Wall[TM] reformer. The hydrogen production plant will have the capacity to produce 40 million standard cubic feet per day, or 44,680 normal cubic meters per hour, of high-purity hydrogen. The hydrogen production plant is planned for operation by mid-2008. Foster Wheeler will also supply three fired heaters for the vacuum distillation and hydrocracker units.

"This award further strengthens Foster Wheeler's excellent relationship with the Bangchak Refinery. We first worked at the refinery in 1995, on the successful clean fuels project," said Steve Davies, chairman and chief executive officer, Foster Wheeler Energy Limited. "This award also reinforces our position as a leading supplier of technology and reformers for hydrogen production, in particular where heavier feedstocks are processed that require pre-reformer technology."

Foster Wheeler's Terrace-Wall[TM] reformer features a unique firing arrangement within a sloped-wall radiant section, enabling long catalyst and catalyst tube life, and can be designed for natural draft operation, providing additional operational, reliability and cost benefits. Foster Wheeler has supplied over 200 Terrace-Wall[TM] steam reformers to the refining and petrochemical industries in more than 40 countries worldwide.

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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