Irish Power Station Inaugurated, Designed and Built by Foster Wheeler.

HAMILTON, Bermuda -- Foster Wheeler Ltd. (OTCBB: FWHLF) announced today that the Irish state-owned Electricity Supply Board (ESB)'s new Lough Ree Power Station at Lanesboro, County Longford, Ireland, was officially opened on April 21, 2005 by the Irish Minister for Finance, Brian Cowen TD. Foster Wheeler's Finnish subsidiary, Foster Wheeler Energia Oy, was the engineering, procurement and construction (EPC) contractor and boiler supplier for this new state-of-the-art plant.

The new 100 MWe peat-burning power station represents an investment of more than $260 million (200 million euros) by ESB. One of the world's largest peat-fired plants, it started commercial operations on December 9, 2004, and replaces a peat-fired power station which has been operating on the site since 1958.

Foster Wheeler is also the EPC contractor and boiler supplier for ESB's new West Offaly power station at Shannonbridge, Ireland, which is part of the same program of peat generation modernization. West Offaly, the largest peat-fired power plant in the world, will be inaugurated later this summer.

Declaring the new Lough Ree plant officially open, Minister Cowen said, "This new plant, which is designed to meet the highest environmental standards and is more efficient than the old plant, preserves peat as an indigenous element of our fuel mix."

"I want to thank Foster Wheeler, the turnkey contractor, for the professional way they built and commissioned this station on time, within budget and to a very high quality standard," said Tadhg O'Donoghue, chairman, ESB.

This state-of-the-art plant uses Foster Wheeler's advanced circulating fluidized-bed (CFB) boiler technology, the leading technology of its type in burning low-calorific-value fuel, such as peat, other biomass fuels, low-grade coals, and petroleum cokes in an efficient and environmentally friendly way.

"This latest success again demonstrates how Foster Wheeler brings together leading-edge technical solutions and world-class project execution to meet our clients' business objectives, cost-effectively and safely," said Raymond J. Milchovich, chairman, president and chief executive officer, Foster Wheeler.

"Using this very latest technology has allowed ESB to reduce emissions of both NOx and SOx to well under the latest European Union limits," said Bernard H. Cherry, president and chief executive officer of Foster Wheeler's Global Power Group. "Due to its higher efficiency, the new plant produces 30% more electricity for the same fuel input as the older plant. In addition, modern stack cleaning technology means that dust emissions are reduced dramatically."

Founded in 1927, ESB is Ireland's largest electricity generating and distribution company, with more than 1.8 million customers and a total installed generating capacity of about 4,700 MWe.

Notes to Editors:

1. Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of design, engineering, 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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