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Contract Awarded to Foster Wheeler by Kuwait Petroleum in The Netherlands.

Business Editors

HAMILTON, Bermuda--(BUSINESS WIRE)--Sept. 23, 2002

Foster Wheeler Ltd. (NYSE:FWC) announced today that its Milan-based subsidiary, Foster Wheeler Italiana S.p.A., has been awarded a contract by Kuwait Petroleum Europoort for the revamp of a vacuum unit and some hydrodesulfurization units at its refinery at Europoort, near Rotterdam, The Netherlands.

The contract calls for Foster Wheeler to provide engineering, procurement, construction management and supervision (EPCm) services. Work on the project has already begun and is scheduled for completion in autumn 2003.

"Foster Wheeler has executed many projects in the past 30 years for Kuwait Petroleum and this is the latest in a series we have done for Kuwait Petroleum Europoort," said Umberto della Sala, president and CEO of Foster Wheeler Continental Europe. "The revamp work will enable the refinery to operate more efficiently and also meet the European Union's more stringent specifications on diesel fuel."

 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, plant operation and environmental
 services. The corporation is based in Hamilton, Bermuda, and
 its operational headquarters are in Clinton, N.J. For more
 information about Foster Wheeler, visit our World Wide Web
 site at

 2. Safe Harbor Statement

 This news release contains forward-looking statements that are
 based on management's assumptions, expectations and
 projections about the various industries within which the
 corporation operates. Such forward-looking statements, by
 their nature, involve a degree of risk and uncertainty. The
 corporation cautions that a variety of factors, including but
 not limited to the following, could cause business conditions
 and results to differ materially from what is contained in
 forward-looking statements: changes in the rate of economic
 growth in the United States and other major international
 economies, changes in investment by the energy, power and
 environmental industries, changes in regulatory environment,
 changes in project schedules, changes in trade, monetary and
 fiscal policies worldwide, currency fluctuations, outcomes of
 pending and future litigation, protection and validity of
 patents and other intellectual property rights, and increasing
 competition by foreign and domestic companies.
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Publication:Business Wire
Geographic Code:7KUWA
Date:Sep 23, 2002
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