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Foster Wheeler Achieves Two British Safety Council Five-Star Ratings

  Foster Wheeler Achieves Two British Safety Council Five-Star Ratings

Business Wire

ZUG, Switzerland -- July 14, 2014

Foster Wheeler AG (Nasdaq:FWLT) announced today that Foster Wheeler Energy
Limited (FWEL), the UK subsidiary of its Global Engineering and Construction
Group, has achieved two prestigious Five-Star ratings from the British Safety
Council (BSC) in connection with its environmental and health and safety
management systems.

The Five-Star Environmental Audit rating follows a BSC review of the overall
environmental management systems and associated arrangements of FWEL’s
operation in Middlesbrough, Teesside, in northeast England. Organizations are
rated from one to five, five being the top rating. FWEL achieved a five-star
rating, with an overall audited score of 92.3 percent.

The Five-Star Occupational Health and Safety Management System Audit rating
follows a BSC review of the overall health and safety management system of
FWEL’s operation in Reading, UK. FWEL’s Reading Office achieved a five-star
rating, with a world-class overall audited score of 96.6 percent.

“These Five Star ratings demonstrate the importance we place on our
environmental and health and safety management systems,” said Roberto Penno,
Chief Executive Officer, Foster Wheeler Global Engineering & Construction
Group. “We are especially pleased with the score for our health and safety
management system, which we have designed to underpin a zero-harm culture.”

The BSC’s Five-Star rating is an internationally recognized audit system used
by leading organizations to benchmark performance against current best
practice. For more information about the program, see
https://www.britsafe.org/audit-and-consultancy/audit.

Foster Wheeler AG is a global engineering and construction company 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, mining and metals, 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 Reading, United Kingdom. For more
information about Foster Wheeler, please visit our website 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 on February 27, 2014, and the
following, could cause the Company’s business conditions and results to differ
materially from what is contained in forward-looking statements including: the
timing and success of the proposed offer and acquisition of the Company by
AMEC plc, the risk that the Company’s business will be adversely impacted
during the pending proposed offer and acquisition of the Company by AMEC plc,
benefits, effects or results of the Company’s redomestication to Switzerland,
deterioration in global economic conditions, 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,
the 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 the Company’s global operations, currency
fluctuations, war, terrorist attacks and/or natural disasters affecting
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 the Company’s
patents and other intellectual property rights, increasing global competition,
compliance with its debt covenants, recoverability of claims against the
Company’s 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
or furnished to the Securities and Exchange Commission.

Contact:

Foster Wheeler AG
Media and Investors
Scott Lamb, 908-730-4155
scott_lamb@fwc.com
or
Media in United Kingdom
Anne Chong, +44-118-913-2106
anne_chong@fwuk.fwc.com
or
Other Inquiries
908-730-4000
fw@fwc.com
 
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