Foster Wheeler to Supply Circulating Fluidized-Bed Boiler to Jyvaskylan Energia Oy, Finland.

HAMILTON, Bermuda -- Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract for a 200 MWe (gross megawatt electric) circulating fluidized-bed (CFB) steam generator by Jyvaskylan Energia Oy. The boiler would be built as a part of a greenfield power plant project in the city of Jyvaskyla in central Finland.

Foster Wheeler has received a full notice to proceed on this contract, which will be included in Foster Wheeler's third-quarter 2007 bookings. The terms of the contract were not disclosed.

Foster Wheeler will design and supply the CFB boiler and auxiliary equipment and will also carry out the erection and commissioning of the boiler island. The planned power plant will be a combined heat and power plant fueled by milled peat and biomass (mostly logging chips). It will be located at Keljonlahti by Lake Paijanne about five kilometers south of Jyvaskyla city center. The plant will produce up to 200 MW of electricity and up to 240 MW of district heat to the city of Jyvaskyla. Commercial operation is scheduled for the spring of 2010.

"This is a very important project for us," said James E. Stone, president and chief executive officer of Foster Wheeler Power Group Europe. "We are very pleased with this award which confirms Jyvaskyla Energia's confidence in our CFB technology and our project execution capabilities."

"We selected Foster Wheeler for this important project for its outstanding technology," said Juha Lappalainen, chief executive officer of Jyvaskylan Energia Oy. "We were also able to improve our economics with features provided by the selected CFB technology and innovative tail end heat recovery. I am sure we all will have a successful project."

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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