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PRESS RELEASE 9 Jan 2003

ELECTROWATT-EKONO AWARDED EUR 1.8 MILLION ENGINEERING CONTRACT IN GERMANY


Electrowatt-Ekono GmbH, which is part of the Jaakko Pöyry Group's Energy business group, has been awarded an engineering contract by Stadtwerke Münster GmbH for the expansion and modernisation of its heat and power plant in Münster, Germany. Electrowatt-Ekono's services include conceptual design, permitting, detailed design, project management, site supervision and commissioning. The total contract value is EUR 1.8 million.

Stadtwerke Münster GmbH operates a combined heat and power plant providing district heating and power for the city. The project is designed to modernise the plant by installing a combined cycle gas turbine system, generating 220 MW thermal power and 80 MW electricity. The heat supply will be backed up by two auxiliary boilers. The increased capacity will improve the cost effectiveness of the heat supply in line with the new law concerning combined heat and power generation, also reducing the environmental impact of the plant.

Electrowatt-Ekono GmbH has a long track record in consulting, engineering and project management for heat and power plants in Germany and the Benelux countries, covering conventional fuels as well as waste and biomass.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 127 million in 2001. Electrowatt-Ekono has offices in 20 countries and employs 1200 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

Jean-Jacques Nyffenegger, Head of Business Area Renewable, Electrowatt-Ekono, Zurich/Switzerland and Hamburg/Germany

Tel. +41 76 356 2058, +49 40 692 00135

www.poyry.com

www.ewe.ch

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