Foster Wheeler provides CFB generators to Korea, Asia

21 September 2006 — Foster Wheeler North America Corp. has entered into a 15-year agreement with Doosan Heavy Industries & Construction Co., Ltd. to provide a technology license for subcritical pressure circulating fluidized-bed (CFB) steam generator projects in Korea, the Indian subcontinent and certain other regions.

The agreement also considers Foster Wheeler’s future collaboration with Doosan on certain engineering, procurement, and construction opportunities. The value of the initial fees will be included in the company’s third-quarter 2006 bookings, and future royalty payments will be recorded over the life of the agreement.