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PRESS RELEASE 19 Jun 2003

ELECTROWATT-EKONO AWARDED EUR 1.8 MILLION CONSULTANCY SERVICES CONTRACTS IN INDIA


Electrowatt-Ekono AG, which belongs to the Jaakko Pöyry Group's Energy business group, has been awarded two consultancy services contracts in India. The total value of the contracts is EUR 1.8 million.

Electrowatt-Ekono has been awarded a consultancy services contract by the National Hydroelectric Power Corporation Ltd., India, for the Parbati hydroelectric project stage II. The hydropower plant, which is situated in the Himachal Pradesh Province, will have an installed capacity of 4 x 200 MW. The contract includes tunnelling expert services, which will be provided by Electrowatt Infra AG.

Electrowatt-Ekono has also been awarded an extension to the existing services contract for the Nathpa Jhakri hydroelectric project. The Satluj Power Development Corporation is executing this hydroelectric development with an installed capacity of 1500 MW. Electrowatt-Ekono has been providing engineering consultancy services during the design and construction phases of this run-of-river power plant since 1990.

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 Manager

Additional information by:

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

Tel. +41 76 356 2451

Knut Sierotzki, Hydro Business Manager, Zurich/Switzerland

Tel. +41 76 356 2808

www.poyry.com

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