Foster Wheeler Wins Contract in India for Design of the World's Largest Delayed Coker

Business Wire, June 26, 2006

HAMILTON, Bermuda -- Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its subsidiary Foster Wheeler USA Corporation, part of its Global Engineering and Construction Group, has been awarded a contract for a new eight-drum delayed coking unit to be installed as part of the Jamnagar Export Refinery Project at the Reliance Petroleum Limited (RPL) refinery in Jamnagar, Gujarat State, India, where Reliance Group's first refinery was also built and has been operating since 1998. The project will approximately double the Reliance Group's crude refining capacity. The new refinery will be the largest single stream petroleum refinery in the world. Foster Wheeler's scope includes process and detailed engineering for the new coker, which is expected to commence operations in 2008. Foster Wheeler also designed Reliance's first refinery's existing eight-drum coker, which is the world's largest operating coker and started up in 1998.

The terms of the contract, which was awarded to Foster Wheeler by Bechtel France, RPL's Design, Engineering, Procurement and Construction Advisory Services contractor, were not disclosed. The award will be included in the company's second-quarter bookings for 2006.

"We are very pleased that RPL has again selected Foster Wheeler to engineer this project and supply our leading Selective Yield Delayed Coking Process (SYDEC(SM)) technology," said Troy Roder, president and chief executive officer of Foster Wheeler USA Corporation. "RPL's decision to repeat the successful Foster Wheeler design for the world's largest coker confirms our client's satisfaction with the quality and performance of our licensed technology and RPL's confidence in our technical and project execution expertise."

"We are very pleased with the performance of our existing coker designed by Foster Wheeler and wanted to ensure similar success for the new coker," commented Mr. A. Poddar, senior executive vice president of projects for RPL.

Foster Wheeler's SYDEC(SM) process is a thermal conversion process used by refineries worldwide to upgrade heavy residue feed and process it into high value transport fuels. The SYDEC(SM) technology utilizes a low-pressure, low-recycle design for achieving maximum liquid yields. By installing a SYDEC(SM) unit in their refinery, the owner is able to process heavier crudes, which sell at a discount to the benchmark light, sweet crudes, therefore allowing the refiner to reap the benefit of significant refining margins. Foster Wheeler is a market leader in delayed coking and has licensed more than 50 delayed coking plants worldwide.

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.

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