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PRESS RELEASE 25 Sep 2003

ELECTROWATT INFRA AWARDED THREE TRANSPORTATION PROJECTS IN LATIN AMERICA


Electrowatt Infra Latin America, which is part of the Jaakko Pöyry Group's Infrastructure & Environment business group, has been awarded three transportation projects in Latin America. The services will be carried out by June 2005. The total value of the contracts is EUR 4.3 million.

Metro de Valencia has extended the contract for implementation of the light rail transport system in Valencia, Venezuela. The services relate to supervision and project management of the electromechanical supplies and installations. Electrowatt Infra has performed owner's engineering in the 6.5 km light rail transport project for several years.

Metro de Medellín has awarded Electrowatt Infra a contract for the implementation of a 2 km gondola ropeway system in the city of Medellín, Colombia. Services included are project management and supervision of the entire implementation of this urban transport system. The ropeway system will be integrated into the Metro Medellín system.

Urban Development Institute, IDU, has commissioned Electrowatt Infra to carry out supervision and project management services in the implementation of a trunk line for the Transmilenio bus lane system in Bogotá, Colombia. The project will be carried out under a BOT (Build-Operate-Transfer) scheme.

Electrowatt Infra Latin America has a large number of major transport projects on its track record. Projects have been carried out in Argentina, Brazil, Chile, Costa Rica, Colombia, Mexico, Peru and Venezuela.

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 1500 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations Manager

Additional information by:

Gerhard Schmitz, Head of Electrowatt Infra Latin America, Brazil

Tel. +55 11 5189 6955

Johann Schmieder, Executive Vice President, Jaakko Pöyry Infra, Germany

Tel. +49 7621 930045

www.poyry.com

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