Foster Wheeler Announces Resignation of Director

HAMILTON, Bermuda--(Business Wire)--
Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that Diane C.
Creel has submitted her resignation from the company's board of
directors effective September 3, 2008.

"Diane made consistent and meaningful contributions to the board
since joining us in 2004," said Raymond J. Milchovich, chairman and
chief executive officer. "She has been an integral part of our
turnaround story. I speak for all of the board members in expressing
our deepest appreciation for her service to the company and in wishing
her all the best in her future endeavors."

Foster Wheeler Ltd. is a global engineering and construction
contractor and power equipment supplier delivering technically
advanced, reliable facilities and equipment. The company employs over
14,000 talented professionals with specialized expertise dedicated to
serving our clients through one of its two primary business groups.
The company's Engineering & Construction (E&C) Group designs and
constructs leading-edge processing facilities for the upstream oil and
gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals,
power, 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 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
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 and/or terrorist attacks on
facilities either owned by us or where equipment or services are or
may be provided by us, 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,
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.

Foster Wheeler Ltd.
Media
Maureen Bingert, 908-730-4444
maureen_bingert@fwc.com
or
Investors
Scott Lamb, 908-730-4145
scott_lamb@fwc.com
or
Other Inquiries:
908-730-4000
fw@fwc.com

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