Foster Wheeler to supply CFB technology in China

18 September 2006 — Foster Wheeler Ltd. announced today that its subsidiary Foster Wheeler North America Corp., a unit of the Global Power Group, has entered into a 15-year agreement with Wuxi Huaguang Boiler Co., Ltd. to provide a technology license for subcritical pressure circulating fluidized-bed (CFB) steam generators to be sold in China.

The agreement leaves open the possibility of Foster Wheeler utilizing Wuxi as a major supplier for projects located outside of China. The value of the initial license fee will be included in the company’s third-quarter 2006 bookings and future royalty payments will be recorded over the life of the agreement.