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PRESS RELEASE 18 Jun 2003

ELECTROWATT INFRA AWARDED EUR 2 MILLION TUNNEL ENGINEERING CONTRACT IN SWITZERLAND


Electrowatt Infra AG, which is part of the Jaakko Pöyry Group's Infrastructure & Environment business group, has been commissioned by the Water Supply Department of the City of Zurich, Switzerland, to design a 7 km tunnel section between a lake water works and a reservoir in the Zurich area. The contract value is EUR 2 million.

Electrowatt Infra's services include conceptual design, call for tenders, detail design and project management. Electrowatt Infra also has an option for the site supervision. The project comprises three shafts, each 100 m deep, a 7 km long tunnel with a diameter of 3.5 m and a cavern with mechanical installations. By increasing the storage capacity the project helps to ensure the water supply to Zurich.

Electrowatt Infra has a long track record in consulting, engineering and project management for water supply and tunnelling in Europe and Asia. The company is one of the leading consultants for tunnelling in Switzerland and is exporting this know-how worldwide.

The Jaakko Pöyry Group's Infrastructure & Environment business group uses the brand name Jaakko Pöyry Infra. Its net sales for 2002 were EUR 123 million. The business group has offices in 12 countries and it employs 1350 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations Manager

Additional information by:

Konrad Blank, Head of business unit Tunnels and Transportation, Electrowatt Infra Ltd, Zurich, Switzerland

Tel. +41 76 356 22 84

www.poyry.com

www.ewi.ch

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