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PRESS RELEASE 5 Aug 2005

ELECTROWATT-EKONO AWARDED EUR 1.2 MILLION HYDROPOWER CONTRACT IN IRAN


Electrowatt-Ekono Ltd, which is part of the Jaakko Pöyry Group's Energy business group, has been awarded a contract by Iran Water and Power Corporation of the Ministry of Energy, Iran, for the review of feasibility study and tender design of the Bakhtyari hydropower scheme. The value of the assignment amounts to EUR 1.2 million.

The project site is located in the Zagros Mountains, about 100 km north of Ahwaz, in south-western Iran. The Bahktyari Scheme will include a 315 m high arch dam, the highest dam in the world, and a 1200 MW power station. It is a key technical challenge in the hydropower industry due to the size, technical complexity and geological conditions of the scheme.

Electrowatt-Ekono is a major foreign market player in dam and hydropower design in Iran and is currently expanding its engineering capacity and partnership with established local engineering companies.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 146 million in 2004. Electrowatt-Ekono has offices in 22 countries and employs 1500 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations Manager

Additional information by:

Knut Sierotzki, Head Hydropower International, Deputy President Hydropower, Electrowatt-Ekono AG, Zurich, Switzerland

Tel. +41 76 356 2808

Richard Pinnock, Chief Executive Officer, Electrowatt-Ekono, Zurich, Switzerland

Tel. +41 76 356 2410

www.poyry.com

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