FWLT (MM)

Foster Wheeler Ltd. (NASDAQ: FWLT) announced today that its board of directors has elected W. Scott Lamb to the position of vice president, investor relations, effective June 4, 2007. Mr. Lamb will succeed Kevin Hagan, who will take up the position of vice president and treasurer of Foster Wheeler Inc. to further strengthen the Company�s treasury team. Mr. Lamb will report to John T. La Duc, executive vice president and chief financial officer. �This is a transformed company, delivering record-breaking earnings and with a market capitalization approaching $7 billion. We firmly believe that Scott is the right person to take our investor relations function to another level,� said Raymond J. Milchovich, chairman and chief executive officer. �Scott worked very closely with John and me for a number of years at Kaiser Aluminum Corporation in the position of vice president of investor relations and corporate communications. He is a highly talented and very experienced investor relations professional, who will be a tremendous asset to the company as a member of its senior management team.� Mr. Lamb, 52, was previously vice president of investor relations for Coeur d�Alene Mines Corporation, a position he held for approximately two years. Previously, he worked for Kaiser Aluminum Corporation for approximately 14 years where he served as Kaiser�s vice president of investor relations and corporate communications. Prior to joining Kaiser, Mr. Lamb held positions in financial, corporate, and marketing communications with Boise Cascade Corporation and Datapoint Corporation. Mr. Lamb is a member of the National Investor Relations Institute (NIRI) and completed the NIRI Investor Relations program at the University of Michigan. He holds a master�s degree from the University of Houston and a bachelor�s degree from Weber State University. He is also a member of the National Advisory Council at Weber State University. A photo of Mr. Lamb is available at http://www.fwc.com/eNewsroom/images/Scott_Lamb_07.jpg 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, 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 http://www.fwc.com. 2. Safe Harbor Statement This news release contains forward-looking statements that are based on management�s assumptions, expectations and projections about the Company and the various industries within which the Company operates. These include statements regarding the Company�s expectations regarding 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 in Part II, Item 1A �Risk Factors� of the Company�s most recent quarterly report on Form 10-Q and the following, could cause the Company�s 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 its customers, changes in regulatory environment, changes in project design or schedules, contract cancellations, changes in estimates made by the Company 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 its patents and other intellectual property rights, increasing competition by foreign and domestic companies, compliance with its debt covenants, recoverability of claims against its customers and others by the Company and clams by third parties against the Company, changes in estimates used in its 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. The Company 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.