Foster Wheeler Awarded Prestigious Sword of Honour by the British Safety Council

Foster Wheeler AG (Nasdaq: FWLT) announced today that its Reading, UK, operation, Foster Wheeler Energy Limited, part of its Global Engineering and Construction Group, has won the British Safety Council’s highly coveted Sword of Honour in 2011.

Alex Botha (right), Chief Executive, British Safety Council, presents the Sword of Honour to Filippo Abba, Chairman & Chief Executive Officer, Foster Wheeler Energy Limited, on Friday, 23 November 2011, at Goldsmiths' Hall, London. (Photo: Business Wire)

Foster Wheeler was one of 54 organizations worldwide presented with a Sword of Honour, which award is widely recognized as the pinnacle of safety achievement.

The winners have all been recognized by the British Safety Council as having exemplary health and safety systems that are among the best in the world. In order to compete for the Sword of Honour, organizations must have achieved the maximum rating in the British Safety Council’s five star health and safety management system audit at specific locations. They must have also demonstrated to an independent adjudication panel a culture of best practice for health and safety throughout the business – from the boardroom to the shop floor.

Lynda Armstrong OBE, British Safety Council chair, said: “My warmest congratulations to this year’s winners. Your success in winning the Sword of Honour is testimony to your organization’s and your employees’ commitment to achieving and sustaining the highest standards of health, safety and environmental management.”

“Working safely is Foster Wheeler’s commitment to our workforce and clients and nothing is so urgent or important that it overrides this commitment,” said Kent Masters, Chief Executive Officer, Foster Wheeler AG. “We are very proud to receive independent endorsement of our world-class safety programs and processes. This latest award endorses and recognizes the hard work, dedication and commitment by our staff, contractors and clients to work together to realize our ‘zero harm’ safety vision.”

UK’s Prime Minister, David Cameron, said: “I am delighted to send my congratulations to all of those organizations being presented with an award by the British Safety Council. These awards recognize the crucial success that these organizations and their employees have achieved in their pursuit of excellence in the management of health, safety and environmental matters at an international level at a time of global challenge.”

Photograph is available at http://www.fwc.com/enewsroom/images/bsc2011.jpg

Caption: Alex Botha (right), Chief Executive, British Safety Council, presents the Sword of Honour to Filippo Abbà, Chairman & Chief Executive Officer, Foster Wheeler Energy Limited, on Friday, 23 November 2011, at Goldsmiths’ Hall, London.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

Safe Harbor Statement

Foster Wheeler AG 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 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 in the Company’s most recent Annual Report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission and the following, could cause the Company’s business conditions and results to differ materially from what is contained in forward-looking statements: benefits, effects or results of the Company’s redomestication or the relocation of our principal executive offices to Geneva, Switzerland; the benefits, effects or results of our strategic renewal initiative; further deterioration in global economic conditions, changes in investment by the oil and gas, oil refining, chemical/petrochemical and power generation industries, changes in the financial condition of its customers, changes in regulatory environments, 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 its global operations, currency fluctuations, war, terrorist attacks and/or natural disasters affecting facilities either owned by the Company or where equipment or services are or may be provided by the Company, interruptions to shipping lanes or other methods of transit, 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 global competition, 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.

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