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HAMILTON, Bermuda, June 3, 2002 -- Foster Wheeler Ltd. on Friday announced that it has obtained further extensions through June 30, 2002 of both its waiver under its current revolving credit facility and the forbearance of remedies for its lease financing facility.

The company said that it is continuing to negotiate with its bank lending group for a long-term credit facility.

Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of design, engineering, construction, manufacturing, project development and management, research, plant operation and environmental services.

The corporation is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, N.J. For more information about Foster Wheeler, visit their web site at www.fwc.com.

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