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STOCK EXCHANGE RELEASE 28 Jul 2005

APPROVAL OF SHARE SUBSCRIPTIONS WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Announcement
                           July 28, 2005 at 8.15 a.m.

APPROVAL OF SHARE SUBSCRIPTIONS WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

In its meeting on July 27, 2005 the Board of Directors of Jaakko Pöyry
Group Oyj has approved the subscriptions for 26 950 shares made between
April 22 and 29, 2005, with warrants 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 26 950 from EUR
14 470 351 to EUR 14 497 301 and the total number of authorised shares
will increase to 14 497 301.

The aim is to have the increase in share capital registered in the Trade
Register on August 3, 2005. The subscribed new shares entitle to
dividend for the financial year 2005. 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 Stock Exchange on August 4, 2005.

The subscription period for all warrants connected to the Bond Loan with
Warrants of 1998 ended on April 30, 2005. The 1 300 000 warrants
connected to the loan allowed subscription of 1 300 000 new shares of
the company. A total of 1 299 015 shares were subscribed with the
warrants. Following the registration of all share subscriptions the
share capital of the company will increase by a total of EUR 1 299 015.

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 Stock Exchange
Major media