FWLT (MM)

Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that it has significantly strengthened its position in the biotech and pharmaceutical markets by completing the acquisition of 100% of the stock of privately held Biokinetics Inc. from MPA Holdings LP. This acquisition enables Foster Wheeler to re-establish its position in the North American pharmaceutical market and strengthens its position relative to key US pharmaceutical companies seeking to invest in the US and globally. In addition, this acquisition will provide enhanced capabilities to existing Biokinetics clients. Terms of the transaction were not disclosed. �The pharmaceuticals, biotechnology and healthcare market is a core market segment for Foster Wheeler and is one in which we are committed to growing our market share,� said Umberto della Sala, president and chief operating officer of Foster Wheeler Ltd. �This acquisition is part of Foster Wheeler�s overall strategy to complement organic growth in our Global Engineering & Construction business with highly targeted acquisitions. This particular transaction enables us to expand our global presence in this sector and further enhance our existing biopharmaceutical skills base. We will be able to deliver comprehensive and responsive capabilities to existing, as well as new, clients, anywhere in the world. We have already established an excellent working relationship with Biokinetics and believe that the combination of our two companies� skills and experience will add value to pharmaceutical companies developing projects in the U.S. and internationally.� 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 upstream oil and gas, LNG and gas-to-liquids, refining, petrochemicals, power, pharmaceuticals, biotechnology and healthcare industries. The company 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 www.fwc.com. Biokinetics was established in 1996 and is now a recognized industry leader in process systems design for the biopharmaceutical industry, with expertise in bioprocess unit operations including fermentation, mammalian cell culture, bioreactors, bacterial and yeast fermentation recovery, live and attenuated virus processing for vaccines and plasma-derived products; associated processing and support systems; pharmaceutical fill-finish and materials handling; process simulation and optimization; modular process design; high-purity water systems; validation services. Biokinetics is headquartered in Philadelphia, PA, with additional operations in California and North Carolina in the USA and Carlow in Ireland. It has approximately 130 employees. For more information about Biokinetics, please visit www.biokinc.com. MPA Holdings LP is a Delaware limited partnership owned by the three principals of Biokinetics: William Brydges, James Dougherty and Anthony Contino. Under the terms of the purchase agreement they will continue as the senior leadership team of the company. Safe Harbor Statement Foster Wheeler news releases may contain 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, compliance with laws and regulations relating to our global operations, 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 claims by third parties against the Company, and 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.