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STOCK EXCHANGE RELEASE 30 Jul 2002

INTERIM REPORT JANUARY 1 - JUNE 30, 2002

JAAKKO PÖYRY GROUP OYJ              Stock Exchange Notice
                                    July 30, 2002, 8.30 a.m.   1(12)

INTERIM REPORT JANUARY 1 - JUNE 30, 2002

Consolidated earnings and balance sheet

Net sales for the period under review were 203.9 (EUR 223.0 million
in the same period 2001). Discontinued and divested businesses
reduced net sales by EUR 11.0 million. Profit before extraordinary
items was EUR 10.2 (13.0) million.

The Jaakko Pöyry Group's consolidated balance sheet is healthy. The
equity ratio was 46.3 (43.6) per cent and the net debt/equity ratio
(gearing) 9.7 (3.3) per cent.

The Jaakko Pöyry Group's earnings per share were EUR 0.45 (0.64) and
the return on investment 14.7 (19.8) per cent.

Business groups

Forest Industry

Net sales for the period under review were EUR 74.2 (78.9) million.
Operating profit amounted to EUR 8.5 (9.8) million. The order stock
was EUR 60.3 (at the end of 2001 74.2) million.

Forest Industry Consulting

Net sales for the period under review were EUR 20.3 (23.8) million.
Operating profit was EUR 1.0 (0.6) million. Thehe operating profit
for the period under review does not include any major fees from
mergers & acquisitions activities. The order stock amounted to EUR
7.2 (18.5) million.

At the beginning of the year, Jaakko Pöyry Consulting Oy sold 75.0
per cent of its 90.0 per cent-owned subsidiary JP Development Oy,
whose net sales for 2001 amounted to EUR 7.0 million and order stock
to EUR 5.7 million at the end of 2001.

Energy

Net sales for the period under review were EUR 51.9 (67.1) million.
Discontinued businesses reduced net sales by EUR 7.3 million.
Operating profit was EUR -1.9 (-3.8) million. The order stock
amounted to EUR 119.6 (123.5) million.

The operating profit for the period under review includes a
provision of EUR 1.5 million related to business in Latin America
and especially projects in Argentina.

Infrastructure & Environment

Net sales for the period under review were EUR 57.9 (53.2) million.
Operating profit was EUR 3.6 (3.5) million. The order stock was EUR
93.8 (103.7) million.
                                                               2(12)

Group structure

Efforts to further develop the Group's structure and business
operations have continued during the period under review.

The Jaakko Pöyry Group has expanded its operations in North America
by acquiring the business of Ajami, Bedard, Gagnon, Sexton Inc., a
Canadian forest industry engineering company. The operations will
continue in Jaakko Pöyry ABGS Inc., a company of which Jaakko Pöyry
Group owns 100 per cent. The transaction is expected to be closed
shortly and will be effective as of June 30, 2002. The company will
be consolidated into the Jaakko Pöyry Group as of July 1, 2002. The
acquired business employs about 100 forest industry experts and its
net sales were EUR 14 million in 2001.

The Forest Industry Consulting business group has sold 75.0 per cent
of its 90.0 per cent-owned subsidiary JP Development Oy. The
divestment is a part of the on-going rationalisation of Jaakko Pöyry
Consulting to focus exclusively on management consulting, operations
consulting and investment banking for the global forest products
industry value chain.

The Energy business group has acquired the air laboratory of Stora
Enso's research centre in Imatra, Finland. The air laboratory
specialises in air emission measurements and process analyses for
pulp and paper mills and their power plants. Furthermore, the Energy
business group has concluded a co-operation agreement with
GreenStream Network Oy, Finland, acquiring a 13.3 per cent
shareholding in this company. GreenStream Network is the first
company in the Nordic countries to act as a broker in the trade in
emissions and green certificates.

The Infrastructure & Environment business group has acquired the
transport consulting business of Heusch/Boesefeldt GmbH in Germany.
The acquired business employs 55 people, with net sales amounting to
about EUR 3.4 million.

Efforts to further develop the Group's structure and business
operations will continue during the current year. In response to the
globalisation of the forest products industry, the local office
network of the Forest Industry business group will be expanded
especially in Western Europe. There are also plans to expand the
operations of the Energy and the Infrastructure & Environment
business groups.

Order stock

The Group's order stock has remained solid during the period under
review, totalling EUR 280.9 million at the end of June, compared
with EUR 292.6 million at the end of June 2001. Discontinued and
divested operations reduced the order stock by EUR 13.1 million. At
the end of December 2001 the order stock was EUR 319.9 million.



                                                               3(12)

Capital expenditure

The Group's capital expenditure for the period under review totalled
EUR 3.9 (3.7) million, consisting mostly of computer software,
systems and hardware.

Share capital and shares

The Annual General Meeting on March 6, 2002 authorised the Board of
Directors to annul the acquired 309 000 own shares and thus decrease
the share capital from EUR 13 932 861 to EUR 13 623 561. After the
cancellation, the total number of shares was 13 623 561. During the
period under review 35 750 new shares were subscribed based on
warrants pursuant to the Bond Loan with Warrants of 1998. In
addition, 117 090 new shares were subscribed in July 2002. Following
these subscriptions, the number of shares totals 13 776 401.

The warrants related to the Bond Loan with Warrants issued by Jaakko
Pöyry Group Oyj in 1998 to the Group personnel and the parent
company's Board of Directors carry subscription rights for a total
of 1.3 million of the company's shares, with the subscription period
beginning partly (390 000 shares) on April 1, 2000, partly (390 000
shares) on April 1, 2001, and partly on April 1, 2002 (520 000
shares). The subscription period ends for all warrants on April 30,
2005. A total of 415 415 shares have been subscribed based on the
warrants.

The Annual General Meeting on March 6, 2002 authorised the Board of
Directors to decide on an increase of share capital by a new issue
and/or by taking a convertible loan and/or by issuing option rights
so that based on the new issue, the convertible bonds and option
rights, the share capital can be increased by a maximum of EUR 1.0
million by issuing for subscription a maximum of 1.0 million new
shares. The authorisation is in force until March 6, 2003.

The Annual General Meeting authorised the Board of Directors to
acquire and convey the company's own shares to a maximum of 5.0 per
cent of the company's share capital. The Board of Directors decided
on March 6, 2002 to exercise the authorisations. The authorisations
are in force until March 6, 2003.

The company's shares are quoted on the Helsinki Exchanges. The
average trading price during the period under review was EUR 17.37,
with a high of EUR 19.00 and a low of EUR 16.00. A total of 1.1
million of the company's shares (equalling 7.8 per cent of the total
number of shares) were traded, corresponding to a turnover of EUR
18.6 million.

The Annual General Meeting approved the Board of Directors' proposal
that a dividend of EUR 0.60 be paid per share for the year 2001 (EUR
0.60 for the year 2000), totalling EUR 8.2 million. The dividend was
paid on March 18, 2002.


                                                               4(12)

Prospects

Prospects for the world economy during 2002 are still uncertain.
Economic growth has not developed as expected and independent
forecasts indicate that increased momentum will not occur until
2003. Economic uncertainty has also decreased overall investment
activity and postponed investment decisions.

The forest products industry's economic prospects for 2002 reflect
general economic trends. Feasibility studies and preliminary
engineering activity volume is still good, but the amount of new
major investment projects is slightly lower than in previous years.
The Forest Industry business group's earnings for the first half
were good. The business group's earnings for the full year 2002 are
expected to be slightly lower than in 2001. Market prospects for the
Forest Industry Consulting business group's services have improved
compared with 2001. The consolidation and restructuring of the
forest industry offer business opportunities for management
consulting and investment banking services. The business group's
earnings for the first half have improved compared to 2001, and
annual earnings for 2002 are expected to be clearly better than the
previous year. Market prospects for the energy sector are still
uncertain. Investment projects have been postponed because of the
uncertainty in the world economy, overcapacity in the power market
and power companies' financial difficulties. On the other hand,
demand has improved for services related to renewable energy, power
plant rebuilds, operations improvement and consulting. The Energy
business group's earnings for the first half were not satisfactory.
Taking into account the market prospects in this sector, the rest of
the year will also be challenging. In spite of these difficulties,
the target is to improve the Energy business group's earnings
compared to 2001. The Infrastructure & Environment business group's
order stock is good and earnings are expected to remain at the same
level as in 2001.

The Jaakko Pöyry Group's market position remains strong and the
order stock is solid. The delay in the recovery of the global
economy and in the associated investment decisions have an effect on
the Group's operations. Based on the above presented prospects and
general economic outlook of the business groups, the Group's
earnings and return on investment for 2002 are expected to be
somewhat lower than in 2001.

Vantaa, July 29, 2002

JAAKKO PÖYRY GROUP OYJ

Board of Directors






                                                               5(12)

JAAKKO PÖYRY GROUP OYJ



Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Executive Vice President


For additional information, please contact:

Erkki Pehu-Lehtonen, President and CEO, Jaakko Pöyry Group Oyj,
tel. +358 9 8947 2999, +358 400 468 084
Teuvo Salminen, Executive Vice President, Jaakko Pöyry Group Oyj,
tel. +358 9 8947 2872, +358 400 420 285
Satu Perälampi, Investor Relations, Jaakko Pöyry Group Oyj,
tel. +358 9 8947 3002, +358 40 526 3388

www.poyry.com


DISTRIBUTION:
Helsinki Exchanges
Major Media































                                                               6(12)

JAAKKO PÖYRY GROUP



Consolidated Statement of Income       1-6/2002  1-6/2001    1-12/2001
(EUR million)

NET SALES                                 203.9     223.0        431.8

Other operating income                      0.6       0.9          2.0

Share of associated companies'             -0.1       0.2          0.2
results

Operating expenses                       -187.9    -203.7       -392.8

Depreciation of consolidation
goodwill                                   -2.1      -2.0         -4.0
Other depreciation                         -4.3      -4.4         -9.2

OPERATING PROFIT                           10.1      14.0         28.0
Proportion of net sales, %                  5.0       6.3          6.5

Financial income and expenses               0.1      -1.0         -1.7

PROFIT BEFORE EXTRAORDINARY ITEMS          10.2      13.0         26.3
Proportion of net sales, %                  5.0       5.8          6.1

Extraordinary items                         0.0       0.0          0.0

PROFIT BEFORE TAXES
AND MINORITY INTEREST                      10.2      13.0         26.3


Income taxes                               -3.9      -3.6         -7.3

Minority interest                          -0.1      -0.5         -1.0

NET PROFIT FOR THE PERIOD                   6.2       8.9         18.0














                                                               7(12)

JAAKKO PÖYRY GROUP

                                        June 30,  June 30, December 31,
Consolidated balance sheet                 2002      2001         2001
(EUR million)

ASSETS

FIXED ASSETS

Consolidation goodwill                     29.8      33.8         31.9
Intangible and tangible assets             33.5      38.8         37.5
Non-current investments                    13.0      17.8         13.2

CURRENT ASSETS

Receivables                               159.1     187.4        152.4
Investments, cash in hand and at
banks                                      20.9      33.7         32.5

                                           256.3     311.5        267.5

SHAREHOLDERS' EQUITY AND LIABILITIES

SHAREHOLDERS' EQUITY                      100.9      99.6        104.7

MINORITY INTEREST                           5.0       5.0          5.1

LIABILITIES *)

Non-current liabilities                    20.1      17.7         20.3
Current liabilities                       130.3     189.2        137.4

                                           256.3     311.5        267.5

*)  Interest bearing liabilities           31.1      37.1         29.2
    Non-interest bearing liabilities      119.3     169.8        128.5
















                                                               8(12)

JAAKKO PÖYRY GROUP

                                        June 30,  June 30, December 31,
Contingent liabilities                     2002      2001         2001
(EUR million)

Pledged assets and mortgages for own
debt
  Pledged assets                             0.0       0.0          0.0
  Mortgages, real estate                     0.0       1.1          0.0
  Mortgages on company assets                0.2       2.6          0.4

Other obligations
  Pledged assets                             2.3       2.5          2.4
  Mortgages, real estate                     0.0       1.4          1.4
  Rent and leasing obligations              49.2      61.5         52.8
  Pension obligations                        0.0       0.4          0.0
  Other obligations                         35.8      33.4         31.9

For others
  Pledged assets                             0.0       1.7          0.2
  Mortgages, real estate                     3.8       3.8          3.8


Derivative instruments

  Foreign exchange forward contracts,
 notional values                           12.0      21.8         12.5
  Currency options, bought                   0.0       5.0          0.0
  Currency options, sold                     0.0       5.0          0.0























                                                               9(12)

JAAKKO PÖYRY GROUP


Key figures                            1-6/2002  1-6/2001    1-12/2001


Earnings / share, EUR                      0.45      0.64         1.30
  Corrected with dilution effect            0.43      0.60         1.24

Shareholders' equity / share, EUR          7.39      7.18         7.69

Return on investment, % p.a.               14.7      19.8         21.2

Return on equity, % p.a.                   11.7      18.1         17.8

Equity ratio, %                            46.3      43.6         48.9

Equity / Assets ratio, %                   41.3      33.6         41.1

Net debt / Equity ratio (gearing), %        9.7       3.3         -3.0

Consulting and engineering,
EUR million                               266.8     272.6        298.1
EPC, EUR million                           14.1      20.0         21.8
Order stock total, EUR million            280.9     292.6        319.9

Capital expenditure, operating,
EUR million                                 3.9       3.6          7.9
Capital expenditure in shares,
EUR million                                 0.0       0.1          0.1

Personnel in group companies in
average                                   4 625     4 581        4 584
Personnel in group companies at the
end of the period                         4 639     4 603        4 584
Personnel in associated companies at
the end of the period                       195       207          197







 The figures in the interim report
 are unaudited.







                                                      10(12)
JAAKKO PÖYRY GROUP

Key figures for the business groups    1-6/2002  1-6/2001    1-12/2001
(EUR million)

NET SALES

Forest Industry                            74.2      78.9        150.2
Forest Industry Consulting                 20.3      23.8         46.4
Energy                                     51.9      67.1        127.0
Infrastructure & Environment               57.9      53.2        107.5
Other                                      -0.4       0.0          0.7

Total                                     203.9     223.0        431.8

OPERATING PROFIT AND PROFIT BEFORE
EXTRAORDINARY ITEMS

Forest Industry                             8.5       9.8         17.8
Forest Industry Consulting                  1.0       0.6          1.3
Energy                                     -1.9      -3.8         -0.6
Infrastructure & Environment                3.6       3.5          7.9
Other                                      -1.1       3.9          1.6

OPERATING PROFIT TOTAL                     10.1      14.0         28.0

Financial items                             0.1      -1.0         -1.7

PROFIT BEFORE EXTRAORDINARY ITEMS          10.2      13.0         26.3

ORDER STOCK

Forest Industry                            60.3      82.2         74.2
Forest Industry Consulting                  7.2      23.0         18.5
Energy                                    119.6      91.2        123.5
Infrastructure & Environment               93.8      96.2        103.7

Total                                     280.9     292.6        319.9

Consulting and engineering                266.8     272.6        298.1
EPC                                        14.1      20.0         21.8

Total                                     280.9     292.6        319.9

NET SALES BY AREA

The Nordic countries                       62.0      75.3        138.3
Continental Europe                         86.0      80.0        159.9
Asia                                       26.8      32.8         66.4
North America                               9.2      15.0         29.5
South America                              12.6      12.5         25.4
Other                                       7.3       7.4         12.3

Total                                     203.9     223.0        431.8
                                                      11(12)

JAAKKO PÖYRY GROUP

Key figures for the business groups    7-9/00 10-12/00  1-3/01 4-6/01
(EUR million)

NET SALES

Forest Industry                          35.7    31.7    40.0   38.9
Forest Industry Consulting               12.6    13.3    12.1   11.7
Energy                                   45.2    47.0    34.1   33.0
Infrastructure & Environment             24.9    28.9    26.9   26.3
Other                                     0.2    -3.9     0.0    0.0

Total                                   118.6   117.0   113.1  109.9

OPERATING PROFIT AND PROFIT BEFORE
EXTRAORDINARY ITEMS

Forest Industry                           2.9     4.2     5.1    4.7
Forest Industry Consulting                1.2     0.2     0.2    0.4
Energy                                    1.0     2.4    -4.4    0.6
Infrastructure & Environment              2.8     2.7     2.1    1.4
Other                                     0.4    -0.7     4.5   -0.6

OPERATING PROFIT TOTAL                    8.3     8.8     7.5    6.5

Financial items                          -0.3     0.0    -0.6   -0.4

PROFIT BEFORE EXTRAORDINARY ITEMS         8.0     8.8     6.9    6.1

ORDER STOCK

Forest Industry                          66.0    71.8    93.5   82.2
Forest Industry Consulting               25.1    25.6    22.8   23.0
Energy                                  137.0   111.6    90.3   91.2
Infrastructure & Environment             97.8    96.5    95.5   96.2

Total                                   325.9   305.5   302.1  292.6

Consulting and engineering              283.9   278.7   278.6  272.6
EPC                                      42.0    26.8    23.5   20.0

Total                                   325.9   305.5   302.1  292.6










                                                      12(12)

JAAKKO PÖYRY GROUP

Key figures for the business groups   7-9/01 10-12/01  1-3/02 4-6/02
(EUR million)

NET SALES

Forest Industry                         33.3     38.0    39.6   34.6
Forest Industry Consulting              11.2     11.4    10.1   10.2
Energy                                  28.0     31.9    24.1   27.8
Infrastructure & Environment            24.6     29.7    27.0   30.9
Other                                    1.0     -0.3    -0.4    0.0

Total                                   98.1    110.7   100.4  103.5

OPERATING PROFIT AND PROFIT BEFORE
EXTRAORDINARY ITEMS

Forest Industry                          4.3      3.7     5.6    2.9
Forest Industry Consulting              -0.1      0.8     0.4    0.6
Energy                                   1.5      1.7    -1.4   -0.5
Infrastructure & Environment             1.0      3.4     1.8    1.8
Other                                   -1.0     -1.3    -1.0   -0.1

OPERATING PROFIT TOTAL                   5.7      8.3     5.4    4.7

Financial items                         -0.5     -0.2    -0.2    0.3

PROFIT BEFORE EXTRAORDINARY ITEMS        5.2      8.1     5.2    5.0

ORDER STOCK

Forest Industry                         76.7     74.2    66.5   60.3
Forest Industry Consulting              20.4     18.5    11.7    7.2
Energy                                  93.4    123.5   113.2  119.6
Infrastructure & Environment            96.6    103.7    96.9   93.8

Total                                  287.1    319.9   288.3  280.9

Consulting and engineering             265.9    298.1   270.5  266.8
EPC                                     21.2     21.8    17.8   14.1

Total                                  287.1    319.9   288.3  280.9