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PRESS RELEASE 8 Dec 2004

ELECTROWATT-EKONO AWARDED EUR 2.3 MILLION ENGINEERING CONTRACT IN SWITZERLAND

Electrowatt-Ekono, which is a part of the Jaakko Pöyry Group's Energy business group, has been awarded an engineering contract by Energiedienst AG for the tender and final design as well as for the construction support of a new powerhouse of the run-of-river plant Rheinfelden. The total value of the contract is approximately EUR 2.3 million.

Between 1989 and 1994, Electrowatt has been providing consultancy services during the design phases of this run-of-river power plant.

The project is located at the Rhine river about 20 km east from Basel. The scheme comprises four bulb turbines with a total installed capacity of 116 MW, an average head between 6 and 9 m and a discharge of 1500 m3/s. The construction phase will most likely start in 2007 and will end in 2012. The unit-wise commissioning of the hydropower plant is envisaged to take place in 2011 and 2012.

The Rheinfelden project is the biggest new build hydro project being realized in Switzerland for the last five years and will provide an important base load work for Electrowatt-Ekono's Swiss operation.

Energiedienst AG is a regional electricity supplier with an average own production capacity of 1300 GWh per annum. Its main shareholder is EnBW AG, a large energy utility in Germany.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 98 million in 2003. Electrowatt-Ekono has offices in 23 countries and employs 1470 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Teuvo Salminen

Deputy to President and CEO

Additional information by:

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

Tel. +41 76 356 2410

Andy Goodwin, Business Area Manager Hydropower, Electrowatt-Ekono, Zurich, Switzerland

Tel. +41 76 356 2310

www.poyry.com

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