Foster Wheeler Awarded Third Successive Order of Distinction by the UK’s Royal Society for the Prevention of Accidents

21/06/2010


ZUG, SWITZERLAND, June 22, 2010 – Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded the prestigious Order of Distinction Award for Occupational Health and Safety by the UK’s Royal Society for the Prevention of Accidents (RoSPA) for the third year running. The Order of Distinction Award is only presented to those companies which have achieved at least 15 consecutive RoSPA Gold Awards for outstanding health and safety performance on projects around the world. The 2010 Award follows Foster Wheeler’s achievement of the Award in 2009 and 2008.

-Receiving the prestigious RoSPA Order of Distinction award signals an unbroken track record of achieving world-class health and safety performance. It recognizes our comprehensive health and safety management systems, and highlights the dedication and unwavering commitment of all our employees to the pursuit of health and safety excellence. We are of course very proud of all of our safety awards but I am also fully committed to ensuring that we constantly strive to ‘raise the bar’ and deliver an even better performance going forward,” said Robert Flexon, chief executive officer, Foster Wheeler AG.

David Rawlins, awards manager, RoSPA, said: -Foster Wheeler has shown a commitment to protecting the health and well-being of its employees and others. Organizations which do this deserve to have such dedication recognized and that’s where the RoSPA Awards come in.

-As well as there being clear ethical reasons and legal requirements for good health and safety management, there is also a strong business case. RoSPA is delighted to publicly honor organizations which have demonstrated their work to improve performance in this sphere.”

Photograph is available at http://www.fwc.com/enewsroom/images/rospa2010.jpg

CAPTION: Lord Brougham & Vaux (left) CBE, deputy president, The Royal Society for the Prevention of Accidents (RoSPA), presents the prestigious RoSPA Order of Distinction Award for Occupational Health and Safety for the third year running to Jonathan Holliday (center), HSE training & audit manager, and Wayne Seddon, construction HSES manager, both from Foster Wheeler Energy Limited.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction 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 Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

Safe Harbor Statement

Foster Wheeler AG 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 about 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 the Company’s most recent Annual Report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission and the following, could cause the Company’s business conditions and results to differ materially from what is contained in forward-looking statements: benefits, effects or results of the Company’s redomestication or the relocation of our principal executive offices to Geneva, Switzerland; further deterioration in the economic conditions in the United States and other major international economies, changes in investment by the oil and gas, oil refining, chemical/petrochemical and power generation 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 the Company or where equipment or services are or may be provided by the Company, interruptions to shipping lanes or other methods of transit, 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 non-U.S. and U.S. companies, compliance with its debt covenants, recoverability of claims against its customers and others by the Company and claims 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.

Media:
Foster Wheeler AG
United States
Julie Stanisz, 908-730-4047
julie_stanisz@fwc.com
or
United Kingdom
Anne Chong, +44 (0)118 913 2106
anne_chong@fwuk.fwc.com
or
Investor Relations
Scott Lamb, 908-730-4155
scott_lamb@fwc.com
or
Other Inquiries
908-730-4000
fw@fwc.com

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