Foster Wheeler Awarded Refinery Upgrading Contracts in Greece

HAMILTON, Bermuda--(Business Wire)--
Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that Italian
and Greek subsidiaries of its Continental Europe operating unit, part
of its Global Engineering and Construction Group, have been awarded
engineering, procurement and construction management contracts by
HELLENIC PETROLEUM S.A. for a refinery upgrading project at one of the
company's refineries, at Thessaloniki in Northern Greece. The scope of
the project is the production of low sulphur fuels, which also results
in significant environmental improvements. HELLENIC PETROLEUM S.A., an
energy company, primarily engages in refining and marketing of
petroleum products, petrochemicals, power production and natural gas,
as well as other sectors, in southeastern Europe.

The terms of the awards were not disclosed and the contracts will
be included in Foster Wheeler's second-quarter 2008 bookings.

Foster Wheeler's scope comprises a new 15,000 barrels per stream
day (BPSD) continuous catalytic reformer, modification of the existing
atmospheric distillation unit in order to switch the operation from
high to low sulphur crudes and revamp of the existing naphtha
hydrofiner and crude light ends processing unit to increase to 26,000
BPSD the refinery's processing capacity for the light products.

"Foster Wheeler has maintained a strong presence in the South
Mediterranean region and, in particular, in the vibrant Greek refinery
market," said Marco Moresco, chief executive officer of Foster Wheeler
Italiana. HELLENIC PETROLEUM is an important client with whom we have
a long-standing relationship, and we look forward to delivering a
strong performance which meets our client's high expectations."

"We have selected Foster Wheeler because of its ability to provide
qualified and professional services and to make available skilled and
experienced resources," said Mr. S. Kyriakopoulos, general director of
refineries, HELLENIC PETROLEUM.

The refinery upgrading project, which will increase gasoline and
diesel oil production, is expected to be completed by the end of 2010.

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 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.

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the Company's business conditions and results to differ materially
from what is contained in forward-looking statements: changes in the
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refining, chemical/petrochemical and power industries, changes in the
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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
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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.

Foster Wheeler Ltd.
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

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