FWLT (MM)

Foster Wheeler Ltd. (NASDAQ: FWLT) announced today that chairman and chief executive officer Raymond J. Milchovich will ring The NASDAQ Stock Market Opening Bell on Friday, March 9, 2007, at 9:30 a.m. (Eastern), in celebration of the Company�s recent announcement of the highest annual net income ever achieved in its 116-year history. �I am very pleased to have been invited by NASDAQ to perform the Opening Bell Ceremony, which gives us an ideal platform to showcase our company with both our customers and the investment community and to celebrate 2006, which was a record-breaking earnings year for Foster Wheeler," said Mr. Milchovich. �I would like to congratulate our management team and recognize all of our employees worldwide for transforming the earning capability of this company to a level that far exceeds any prior period in our Company�s 116-year history. Recognizing all of the progress and systemic performance improvements that we have made, together with the commitment, skills and experience of our people, combined with our leading-edge technologies and global range of services, I am highly confident that we are very strongly positioned to capture a significant share of our clients� investments and to deliver a 2007 performance that is even better than the outstanding performance we delivered in 2006.� To view the NASDAQ opening bell ceremony live on March 9, visit http://www.nasdaq.com/reference/marketsite_about.stm to access the NASDAQ MarketSite webcam at least 15 minutes in advance. 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, 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. 2. Safe Harbor Statement This press release may contain forward-looking statements that are based on the Company�s assumptions, expectations and projections about Foster Wheeler and the various industries within which it operates. These include statements regarding the Company�s expectation about revenues (including as expressed by its backlog), its liquidity, the outcome of litigation and legal proceedings and recoveries from customers for claims, and the costs of current and future asbestos claims and the amount and timing of related insurance recoveries. Such forward-looking statements by their nature involve a degree of risk and uncertainty. The Company cautions that a variety of factors, including but not limited to the factors described under Part I, Item 1A. �Risk Factors� in its most recent annual report on Form 10-K, 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 oil and gas, oil refining, chemical/petrochemical and power industries, changes in the financial condition of the Company�s customers; changes in regulatory environment; changes in project design or schedules; contract cancellations; changes in the Company�s estimates of costs to complete projects; changes in trade, monetary and fiscal policies worldwide; currency fluctuations; war and/or terrorist attacks on facilities either owned or where equipment or services are or may be provided; interruptions to shipping lanes or other methods of transport; outcomes of pending and future litigation, including litigation regarding the Company�s liability for damages and insurance coverage for asbestos exposure; protection and validity of the Company�s patents and other intellectual property rights; increasing competition by foreign and domestic companies; compliance with the Company�s debt covenants; recoverability of claims against the Company�s customers and others by the Company and claims by third parties against the Company; and changes in estimates used in the Company�s critical accounting policies. Other factors and assumptions not identified above were also involved in the formation of these forward-looking statements and the failure of such other assumptions to be realized, as well as other factors, may also cause actual results to differ materially from those projected. Most of these factors are difficult to predict accurately and are generally beyond the Company�s control. You should consider the areas of risk described above in connection with any forward-looking statements that may be made by the Company. Foster Wheeler undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures the Company makes in proxy statements, quarterly reports on Form 10-Q, annual reports on Form 10-K and current reports on Form 8-K filed with the Securities and Exchange Commission.