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PRESS RELEASE 20 Mar 2003

HEYMO INGENIERÍA AWARDED EUR 1.5 MILLION ENGINEERING CONTRACT IN SPAIN


Heymo Ingeniería, S.A., which is part of the Jaakko Pöyry Group´s Energy business group, has been awarded an engineering contract by Repsol Química S.A. for refurbishing its styrene monomer and propylene oxide wastes oxidation plant in Puertollano, Spain. Heymo´s services include preliminary and basic engineering, detailed engineering, procurement services and construction supervision. The contract value is EUR 1.5 million.

Repsol Química S.A. is owned by the Spanish petroleum holding company Repsol YPF, which is the 10th largest petroleum company in the world. It operates a petrochemical complex in Puertollano. The waste treatment plant will be refurbished with state-of-the-art technology to ensure that it fulfils current EU regulations concerning treatment of wastes of this kind. The modernisation will also reduce the plant's operating costs.

Heymo Ingeniería, S.A. has a long track record in basic engineering, detailed engineering and project management for industrial plants in Spain and abroad, and in turn-key contracts. This contract further expands Heymo Ingeniería's service portfolio within the oil and gas sector in Spain.

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

Additional information by:

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

Tel. +41 76 356 2410

Javier Rodríguez, Commercial Director, Heymo Ingeniería S.A.

Tel. +34 913 810 840

www.poyry.com

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