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

HAMILTON, Bermuda -- Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that the Irish state-owned Electricity Supply Board's (ESB) new West Offaly Power Station at Shannonbridge, County Offaly, Ireland, was officially opened on July 8, 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 150 MWe peat-burning power station represents an investment of more than $312 million (240 million euros) by ESB. The largest peat-fired power station in the world, this new state-of-the-art plant replaces an existing peat-fired power station operating on the site since 1965.

Foster Wheeler was also the EPC contractor and boiler supplier for ESB's new 100 MWe Lough Ree power station at Lanesboro, Ireland, which was inaugurated on April 21, 2005. The two new plants are part of the same program of peat generation modernization.

"The diversity of fuels used in electricity generation is of national importance, particularly with oil and gas prices reaching record levels," said Tadhg O'Donoghue, chairman, ESB. "I want to thank Foster Wheeler, the turnkey contractor, for the professional way they built and commissioned this power station on time, within our budget and to a very high quality standard. Like its sister plant at Lough Ree, the new West Offaly plant uses the very latest technology, which is delivering major improvements in efficiency and is more environmentally-friendly."

The two new state-of-the-art plants use 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.

"Successful completion of the world's largest peat-fired plant 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.

"Due to its higher efficiency, the new plant produces significantly more electricity for the same fuel input as the older plant," said Bernard H. Cherry, president and chief executive officer of Foster Wheeler's Global Power Group. "In addition, modern emission control equipment will reduce emissions of nitrogen oxides, sulfur oxides and particulates significantly below levels at the existing peat plants. Both new plants have been designed and built to comply fully with new and existing EU regulations."

Founded in 1927, ESB is Ireland's largest electricity generating, distribution and supply 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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