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STOCK EXCHANGE RELEASE 3 May 2001

INTERIM REPORT JANUARY 1 - MARCH 31, 2001

JAAKKO PÖYRY GROUP OYJ              Stock Exchange Notice
                                    May 3, 2001, 8.30 a.m.     1(12)

INTERIM REPORT JANUARY 1 - MARCH 31, 2001

The development of Jaakko Pöyry Group's earnings was good during the
period under review.

-  Net sales were EUR 113.1 million (EUR 114.7 million in the same
   period 2000).
-  Operating profit was EUR 7.5 (7.1) million.
-  Profit after financial items was EUR 6.9 (6.4) million.
-  The Group's profit for the period under review was EUR 4.5 (3.7)
   million.
-  Earnings per share were EUR 0.33 (0.27).
-  The return on investment was 21.6 (22.0) per cent.

Net sales increased in the Forest Industry, Forest Industry
Consulting and in the Infrastructure & Environment business groups.
Operating profit increased in the Forest Industry business group.

The Group's earnings per share improved by 22.2 per cent during the
period under review. In the figures for the corresponding period
last year, allowance has not been made for the decision by the Tax
Office for Major Corporations dated November 23, 2000, according to
which the Group's taxes for the period 2000-2002 will decrease by
about EUR 1.5 million per year. The comparable earnings per share
for the first quarter of the year 2000 are EUR 0.29, so the
comparable earnings per share have improved by 13.8 per cent during
the period under review.

The Group's liquidity remained good during the period under review.
At the end of March, cash in hand and at banks amounted to EUR 41.1
million, and interest-bearing debts to EUR 43.5 million, so interest-
bearing net debts amounted to EUR 2.4 million (at the end of the
year 2000 cash in hand and at banks exceeded interest-bearing net
debts by EUR 2.6 million). The net debt/equity ratio (gearing) was
2.4 per cent.

A decision to close down the alcohol plant contracting business,
which is a part of the Energy business group, has been made and
hence a EUR 6 million expense burdens the result of the Energy
business group.

The surplus refunded by the Swedish Staff Pension Society, SPP,
which was confirmed during the year 2000 but not taken into account
in the operating profit for last year, was booked during the period
under review. The refund, totalling EUR 4.9 million, is included on
the line "other" in the key figure specification by business group.

Business Groups

Forest Industry

Net sales for the period under review were EUR 40.0 (36.2) million.
Operating profit amounted to EUR 5.1 (3.7) million. Profitability

                                                               2
was good. The order stock amounted to EUR 93.5 (71.8 at the end of
2000) million.

Forest Industry Consulting

Net sales for the period under review were EUR 12.1 (11.8) million.
Operating profit was EUR 0.2 (0.5) million. The order stock amounted
to EUR 22.8 (25.6) million.

The weakening economic growth in North America has resulted in
reduced demand for consulting services in this region, affecting the
business group's result. No major consultancy fees from mergers &
acquisition advice were booked during the period under review. The
business group's earnings for the period under review fell short of
set targets. A program to improve the business group's internal
processes and efficiency has been started in the beginning of the
year 2001.

Energy

Net sales for the period under review were EUR 34.1 (40.4) million.
Operating profit was EUR -4.4 (2.4) million. The order stock
amounted to EUR 90.3 (111.6) million.

The decrease in net sales was primarily due to the reduced volume of
the turn-key projects business. A decision to discontinue the loss-
making alcohol plant contracting business has been made. This
business generated net sales of about EUR 31 million in the year
2000. The Group's aim is to improve its relative profitability and
to raise its operating profit to more than eight per cent of net
sales. Because of the nature of the contracting business its
profitability is lower than that of consulting and engineering
projects. To cover the expenses of discontinuing the alcohol plant
contracting business, the business group has booked an expense of
EUR 6 million. Disregarding this the business group's earnings for
the period under review were satisfactory.

Infrastructure & Environment

Net sales for the period under review were EUR 26.9 (25.9) million.
Operating profit was EUR 2.1 (2.1) million. The profitability was in
accordance with set targets. The order stock was EUR 95.5 (96.5)
million.

The target set for the telecommunications business, which is part of
the Infrastructure & Environment business group, is to double the
sales volume to EUR 20 million. Investments in third-generation
telecommunications networks in Europe have been postponed by 6 to 12
months.  For this reason, the planned doubling of the sales volume
will not be achieved in 2001.  Because the volume growth target is
primarily based on realignment and training of the Group's current
project implementation resources, the failure to reach the planned
growth target will not weaken the business group's result for 2001.

                                                               3
Group Structure

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 in
North America and 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 good, totalling EUR 302.1
million at the end of March, compared with EUR 305.5 million at the
end of the year 2000. The order stock for consulting and engineering
work equals the levels achieved by the end of the year 2000. The
order stock for turn-key projects declined by EUR 3.3 million during
the period under review.

Capital Expenditure

The Group's capital expenditure for the period under review totalled
EUR 2.1 (3.6) million. The capital expenditure consisted mostly of
costs related to computer software, systems and hardware.

Share Capital and Shares

The total number of shares at the end of the year 2000 was 13 724
136. A total of 20 250 new shares were subscribed during the review
period based on A warrants pursuant to the bond loan with warrants
of 1998. In addition, 132 150 new shares were subscribed in April
2001. Following these subscriptions, the number of shares totals 13
876 536.

The bond loan with warrants totalling EUR 2.2 million, issued by the
Jaakko Pöyry Group in 1998 to all Group employees, has been fully
subscribed. The warrants 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 206 250 shares have been subscribed based on the
warrants.

The Annual General Meeting on March 8, 2001 authorised the Board of
Directors to decide on an increase of share capital by a new issue
and/or by taking a convertible loan 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 8, 2002.

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

							4
on March 8, 2001 to exercise the authorisations. The authorisations
are in force until March 8, 2002.

The company's shares are quoted on the Helsinki Exchanges. The
average trading price during the period under review was EUR 19.81,
with a high of EUR 21.00 and a low of EUR 17.00. A total of 0.8
million of the company's shares (equalling 6.0 per cent of the total
number of shares) were traded, corresponding to a turnover of EUR
16.4 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 2000 (EUR
0.45 for the year 1999), totalling EUR 8.2 million. The dividends
were paid on March 20, 2001.

Prospects

The Jaakko Pöyry Group's order stock has remained firm during the
first quarter, creating a good basis for the Group's operations in
the remaining three quarters. However, if economic conditions
continue to weaken in North America and if the weakening spreads to
the Group's main market in Europe, it will have an effect on
operations toward the end of the current year.

The Forest Industry business group's earnings and order stock for
the first quarter are good and the full-year result will improve
compared with last year. The Forest Industry Consulting business
group's earnings will depend on the market confidence and activity
within the forest products industry during 2001. The business
group's earnings will also depend on investment banking success fees
and their timing. The Energy business group's earnings for the rest
of the current year will depend on investment decisions of some
potential projects. The Infrastructure & Environment business
group's order stock creates a good basis for stable earnings
development during the rest of the year.

The Jaakko Pöyry Group's main economic objectives are to improve
earnings per share by an average of 15.0 per cent per year and to
achieve a return of investment (ROI) of at least 20.0 per cent.
Taking into account the Group's earnings, order stock, market
position and prospects presented above, the Group's possibilities of
achieving these objectives have remained good.



Vantaa, May 2, 2001

JAAKKO PÖYRY GROUP OYJ
Board of Directors





                                                               5
JAAKKO PÖYRY GROUP OYJ



Erkki Pehu-Lehtonen                 Teuvo Salminen



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 Lyytinen, Investor Relations, Jaakko Pöyry Group Oyj,
tel. +358 9 8947 3002, +358 40 526 3388

www.poyry.com


DISTRIBUTION:
Helsinki Exchanges
Major Media

JAAKKO PÖYRY GROUP                                                   6



Consolidated Statement of Income       1-3/2001 1-3/2000    1-12/2000
(EUR million)


NET SALES                                 113.1    114.7        474.5

Other operating income                      0.5      0.8          2.2

Share of associated companies' results     -0.2      0.1         -0.1

Operating expenses                       -102.8   -105.3       -431.7

Depreciation and value decrease            -3.1     -3.2        -13.1

OPERATING PROFIT                            7.5      7.1         31.8
Proportion of net sales, %                  6.6      6.2          6.7

Financial income and expenses              -0.6     -0.7         -1.7

PROFIT AFTER FINANCIAL ITEMS                6.9      6.4         30.1
Proportion of net sales, %                  6.1      5.6          6.4

Extraordinary items                         0.0      0.0          0.0

PROFIT BEFORE APPROPRIATIONS,
TAXES AND MINORITY INTEREST                 6.9      6.4         30.1


Income taxes                               -2.1     -2.4         -9.0

Minority interest                          -0.3     -0.3         -1.9

NET PROFIT FOR THE PERIOD                   4.5      3.7         19.2



                                                                      7
JAAKKO PÖYRY GROUP

                                        March 31 March 31, December 31,
Consolidated Balance Sheet                 2001     2000         2000
(EUR million)

ASSETS

FIXED ASSETS

Consolidation goodwill                     34.8     39.1         35.8
Intangible and tangible assets             39.2     39.5         39.3
Non-current investments                    17.5     17.7         13.4

CURRENT ASSETS

Receivables                               182.7    178.9        184.3
Investments, cash in hand and at banks     41.1     32.9         37.5

                                           315.3    308.1        310,3

SHAREHOLDERS' EQUITY AND LIABILITIES

SHAREHOLDERS' EQUITY                       93.9     79.6         97.4

MINORITY INTEREST                           5.5      5.2          5.2

LIABILITIES *)

Non-current liabilities                    17.7     32.6         22.4
Current liabilities                       198.2    190.7        185.3

                                           315.3    308.1        310,3

*) Interest bearing liabilities            43.5     49.3         34.9
    Non-interest bearing liabilities      172.4    174.0        172.8

                                                                      8
JAAKKO PÖYRY GROUP

                                        March 31, March 31, December 31,
Contingent Liabilities                     2001     2000         2000
(EUR million)

Pledged assets and mortgages for own
debt
Pledged assets                              2.3      2.3          2.3
Mortgages, real estate                      1.1      1.2          1.1
Mortgages on company assets                 6.1      6.1          6.1

Other obligations
Pledged assets                              2.5      2.5          2.6
Mortgages, real estate                      1.4      2.2          1.4
Rent and leasing obligations               60.5     58.6         63.5
Pension obligations                         0.4      0.4          0.4
Other obligations                          29.8     42.4         28.7

For others
Pledged assets                              1.7      2.5          2.5
Mortgages, real estate                      3.8      3.8          3.8


Derivative Instruments


Foreign exchange forward contracts,        13.2     17.4         15.3
notional values
Currency options, bought                    5.0                   10.0
Currency options, sold                     10.0                   15.0



JAAKKO PÖYRY GROUP                                                   9


Key Figures                            1-3/2001 1-3/2000    1-12/2000


Earnings / share. EUR                      0.33     0.27         1.40
  Corrected with dilution effect            0.30     0.25         1.28

Shareholders' equity / share. EUR          6.83     5.82         7.10

Return on investment. % p.a.               21.6     22.0         25.1

Return on equity. % p.a.                   19.0     18.6         22.3

Equity ratio. %                            38.9     33.6         42.2

Equity / Assets ratio. %                   31.5     27.5         33.3

Net debt / Equity ratio (gearing). %        2.4     19.3         -2.5

Consulting and engineering. EUR           278.6    295.7        278.7
million
EPC. EUR million                           23.5     61.9         26.8
Order Stock total. EUR million            302.1    357.6        305.5

Capital expenditure. operating. EUR         2.1      3.5          9.9
million
Capital expenditure in shares. EUR          0.0      0.1          2.5
million

Personnel in group companies in           4 584    4 462        4 558
average

Personnel in group companies at the       4 638    4 466        4 572
end of the period

Personnel in associated companies at        197      154          174
the end of the period





JAAKKO PÖYRY GROUP                                                  10

Key Figures for the Business Groups      1-3/01   1-3/00    1-12/2000
(EUR million)

NET SALES
Forest Industry                            40.0     36.2        140.8
Forest Industry Consulting                 12.1     11.8         53.0
Energy                                     34.1     40.4        180.9
Infrastructure & Environment               26.9     25.9        102.7
Other                                       0.0      0.4         -2.9

Total                                     113.1    114.7        474.5

OPERATING PROFIT
Forest Industry                             5.1      3.7         12.7
Forest Industry Consulting                  0.2      0.5          4.8
Energy                                     -4.4      2.4          8.1
Infrastructure & Environment                2.1      2.1          8.6
Other                                       4.5     -1.6         -2.4


OPERATING PROFIT TOTAL                      7.5      7.1         31.8

Financial items                            -0.6     -0.7         -1.7

PROFIT AFTER FINANCIAL ITEMS                6.9      6.4         30.1

ORDER STOCK
Forest Industry                            93.5     76.7         71.8
Forest Industry Consulting                 22.8     23.2         25.6
Energy                                     90.3    167.8        111.6
Infrastructure & Environment               95.5     89.9         96.5

Total                                     302.1    357.6        305.5

Consulting and engineering                278.6    295.7        278.7
EPC                                        23.5     61.9         26.8

Total                                     302.1    357.6        305.5

NET SALES BY AREA
The Nordic countries                       39.1     34.3        149.0
Other Europe                               40.2     44.7        177.7
Asia                                       17.4     21.1         86.8
North America                               7.4      7.7         26.9
South America                               5.2      4.8         20.0
Other                                       3.8      2.1         14.1

Total                                     113.1    114.7        474.5


JAAKKO PÖYRY GROUP                                                     11

Key Figures for the Business Groups    1-3/99  4-6/99 7-9/99  10-12/99
(EUR million)

NET SALES

Forest Industry                          30.6    30.0   24.9      34.1
Forest Industry Consulting                9.6    10.0    9.3      10.3
Energy                                   30.9    33.7   29.7      45.4
Infrastructure & Environment             22.8    23.6   22.4      28.5
Other                                     0.4    -0.1   -0.1      -0.6

Total                                    94.3    97.2   86.2     117.7

OPERATING PROFIT

Forest Industry                           3.6     3.1    2.9       3.9
Forest Industry Consulting                0.2     0.0    0.3       1.0
Energy                                    1.3     2.1    1.5       4.3
Infrastructure & Environment              1.6     2.1    2.1       1.8
Other                                    -1.0    -0.8   -0.6      -2.2


OPERATING PROFIT TOTAL                    5.7     6.5    6.2       8.8

Financial items                          -0.4    -0.4   -0.3      -0.8

PROFIT AFTER FINANCIAL ITEMS              5.3     6.1    5.9       8.0

ORDER STOCK

Forest Industry                          55.3    54.2   76.4      70.5
Forest Industry Consulting               23.1    22.4   19.8      21.2
Energy                                  173.5   178.6  176.1     165.4
Infrastructure & Environment             94.2    95.1   91.9      91.8

Total                                   346.1   350.3  364.2     348.9

Consulting and engineering              289.5   291.4  297.4     292.3
EPC                                      56.6    58.9   66.8      56.6

Total                                   346.1   350.3  364.2     348.9


JAAKKO PÖYRY GROUP                                                  12

Key Figures for the Business Groups   1-3/00 4-6/00 7-9/00 10-12/00
(EUR million)

NET SALES

Forest Industry                         36.2   37.2   35.7     31.7
Forest Industry Consulting              11.8   15.3   12.6     13.3
Energy                                  40.4   48.3   45.2     47.0
Infrastructure & Environment            25.9   23.0   24.9     28.9
Other                                    0.4    0.4    0.2     -3.9

Total                                  114.7  124.2  118.6    117.0

OPERATING PROFIT

Forest Industry                          3.7    1.9    2.9      4.2
Forest Industry Consulting               0.5    2.9    1.2      0.2
Energy                                   2.4    2.3    1.0      2.4
Infrastructure & Environment             2.1    1.0    2.8      2.7
Other                                   -1.6   -0.5    0.4     -0.7


OPERATING PROFIT TOTAL                   7.1    7.6    8.3      8.8

Financial items                         -0.7   -0.7   -0.3      0.0

PROFIT AFTER FINANCIAL ITEMS             6.4    6.9    8.0      8.8

ORDER STOCK

Forest Industry                         76.7   70.7   66.0     71.8
Forest Industry Consulting              23.2   22.2   25.1     25.6
Energy                                 167.8  163.7  137.0    111.6
Infrastructure & Environment            89.9   94.2   97.8     96.5

Total                                  357.6  350.8  325.9    305.5

Consulting and engineering             295.7  284.6  283.9    278.7
EPC                                     61.9   66.2   42.0     26.8

Total                                  357.6  350.8  325.9    305.5