Foster Wheeler Gets Shareholder Approval to Change Place of Incorporation

Foster Wheeler announced that at a special meeting of common shareholders held today, Jan. 27, the company received the necessary shareholder approval to complete its previously announced redomestication to change the place of incorporation of its group holding company from Bermuda to Switzerland.

The company currently expects that it will complete the redomestication on February 2, 2009. Completion of the redomestication remains subject to the approval of the Supreme Court of Bermuda, which the company expects to obtain at a hearing to be held on January 30, 2009, and the satisfaction of certain other conditions.