HAMILTON, Bermuda--Aug. 7, 2007--Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its Milan-based subsidiary Foster Wheeler Italiana S.p.A., part of its Global Engineering and Construction
Group, has been awarded a feasibility study by C.GEN N.V. for a 400 MWe (gross megawatt electric) coal-fired integrated gasification combined-cycle (IGCC) plant to be built in northern Europe. C.GEN is a
company belonging to the same group as Cobelfret, aimed at the development of new energy projects focused on coal and environmentally friendly solutions. Cobelfret is a transport and logistics group based
in Europe (more info on www.cobelfret.com).

The value of the contract was not disclosed and will be included in Foster Wheeler's third-quarter 2007 bookings.

This contract is the first award to Foster Wheeler Italiana under the terms of a framework agreement signed in 2007.

Foster Wheeler Italiana will evaluate the benefits and issues associated with the production of electricity, as well as hydrogen or methanol, from a 400 MWe IGCC plant using coal as feedstock. The company will develop several technological solutions, with and without capture of carbon dioxide, will evaluate potential plant performance and will develop cost estimates.

"We are extremely pleased to win another IGCC-related contract" said Marco Moresco, chief executive officer of Foster Wheeler Italiana. "The trust that C.GEN has placed in Foster Wheeler stems from our proven track record and comprehensive experience with IGCC, hydrogen and methanol production technologies and applications."

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, 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 www.fwc.com.

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 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.

CONTACT: Media:
United States:
Maureen Bingert, 908-730-4444
maureen_bingert@fwc.com
or
Italy:
Cristiana Monti, +39 02 4486 2135
cristiana_monti@fwceu.com
or
Other Inquiries:
908-730-4000
fw@fwc.com