Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Rectangle 212 + Rectangle 212 + Rectangle 212 Created with Sketch. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Twitter Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta.

STOCK EXCHANGE RELEASE 2 Feb 2005

APPROVAL OF SHARE SUBSCRIPTIONS WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Announcement
                           February 2, 2005 at 6.00 p.m.

APPROVAL OF SHARE SUBSCRIPTIONS WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

In its meeting on February 2, 2005 the Board of Directors of Jaakko
Pöyry Group Oyj has approved the subscriptions for 179 400 shares made
with warrants between December 10 and December 31, 2004 pursuant to the
company's Bond Loan with Warrants of 1998. Following these
subscriptions, the registered share capital of the company will increase
by EUR 179 400 from EUR 13 930 451 to EUR 14 109 851 and the total
number of authorised shares will increase to 14 109 851.

The aim is to have the increase in share capital registered in the Trade
Register on February 11, 2005. The subscribed new shares entitle to
dividend for the financial year 2004. Other shareholders' rights
commence on the date of registration of the share capital increase in
the Trade Register. The new shares will be joined to the old shares and
are expected to be available for public trading on the main list of the
Helsinki Exchanges on February 14, 2005.

The subscription period for all warrants ends on April 30, 2005. A total
of 916 565 shares have been subscribed with the warrants by February 2,
2005. An aggregate of 1.3 million shares in the company can be
subscribed with these warrants.

JAAKKO PÖYRY GROUP OYJ



Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Deputy to President and CEO

Additional information by:
Anne Viitala, Group General Counsel, Jaakko Pöyry Group Oyj
Tel. +358 9 8947 2811

www.poyry.com

DISTRIBUTION:
Helsinki Exchanges
Major media