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PRESS RELEASE 8 Apr 2003

ELECTROWATT-EKONO AWARDED EUR 1.1 MILLION OPERATION AND MAINTENANCE CONTRACT IN THE PHILIPPINES


Electrowatt-Ekono (Philippines) Inc., which is part of the Jaakko Pöyry Group's Energy business group, has been awarded a three-year operation and maintenance contract by Nestle Philippines Inc. for its factory in Cabuyao, Laguna. The value of the contract amounts to EUR 1.1 million.

This is Electrowatt-Ekono's fourth operation and maintenance (O&M) contract in the Philippines. Electrowatt-Ekono will be responsible for running the independent power plant and providing the Nestle milk and infant products factory with uninterrupted power through its 12 MW diesel generators. The assignment increases Electrowatt-Ekono's O&M portfolio in the Philippines to 60 megawatts.

Electrowatt-Ekono's target is to expand its O&M services globally, with special focus on partnerships with private multi-national organisations.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 112 million in 2002. Electrowatt-Ekono has offices in 20 countries and employs 1100 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations

Additional information by:

Richard Pinnock, CEO, Electrowatt-Ekono, Zurich/Switzerland

Tel. +41 76 356 2410

Nicky Gemperle, President, Electrowatt-Ekono (Philippines) Inc.

Tel. +63 2 811 2472

www.poyry.com

www.ewe.com.ph

DISTRIBUTION:

Major media