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STOCK EXCHANGE RELEASE 29 Apr 2002

INTERIM REPORT JANUARY 1 - MARCH 31, 2002

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           April 29, 2002, 8.30 a.m.           1(11)

INTERIM REPORT JANUARY 1 - MARCH 31, 2002

Consolidated earnings and balance sheet

Net sales for the period under review were 100,4 (EUR 113.1 million
in the same period 2001). Discontinued and divested businesses
reduced net sales by EUR 7.4 million. Profit before extraordinary
items was EUR 5.2 (6.9) million. The operating profit includes a
provision of EUR 1.5 million for the Energy business group's
operations in Latin America.

The Jaakko Pöyry Group's consolidated balance sheet is healthy. The
equity ratio was 46.2 (38.9) per cent and the net debt/equity ratio
(gearing) 1.8 (2.4) per cent.

The Jaakko Pöyry Group's earnings per share were EUR 0.24 (0.33) and
the return on investment 15.7 (21.6) per cent.

Business groups

Forest Industry

Net sales for the period under review were EUR 39.6 (40.0) million.
Operating profit amounted to EUR 5.6 (5.1) million. The order stock
was EUR 66.5 (at the end of 2001 74.2) million.

Forest Industry Consulting

Net sales for the period under review were EUR 10.1 (12.1) million.
Operating profit was EUR 0.4 (0.2) million. The order stock amounted
to EUR 11.7 (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.

Energy

Net sales for the period under review were EUR 24.1 (34.1) million.
Discontinued businesses reduced net sales by EUR 5.2 million.
Operating profit was EUR -1.4 (-4.4) million. The order stock
amounted to EUR 113.2 (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 27.0 (26.9) million.
Operating profit was EUR 1.8 (2.1) million. The order stock was EUR
96.9 (103.7) million.

                                                               2(11)

Group structure

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

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 Imatra air laboratory of
Stora Enso's research centre. 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 Oy 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 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 during the period under
review, totalling EUR 288.3 million at the end of March, compared
with EUR 302.1 million at the end of March 2001. Discontinued and
divested operations reduced the order stock by EUR 15.9 million. At
the end of December 2001 the order stock was EUR 319.9 million.

Capital expenditure

The Group's capital expenditure for the period under review totalled
EUR 2.2 (2.1) 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 own shares 309 300 and thus decrease
the share capital from EUR 13 932 861 to EUR 13 623 561. The total
number of shares after the annulment was 13 623 561. After the
                                                               3(11)

period under review 35 750 new shares were subscribed based on
warrants pursuant to the Bond Loan with Warrants of 1998. Following
these subscriptions, the number of shares totals 13 659 311.

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 298 325 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 16.70,
with a high of EUR 18.80 and a low of EUR 16.00. A total of 0.6
million of the company's shares (equalling 4.2 per cent of the total
number of shares) were traded, corresponding to a turnover of EUR
9.7 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.

Prospects

Prospects for the world economy during 2002 are uncertain. In
general, economic growth is expected to gain momentum towards the
end of 2002. On the other hand, if consumer confidence falters,
prospects may weaken again.

The forest products industry's economic prospects for 2002 reflect
general economic trends. Forest products companies are now more
confident of an economic recovery, so demand for feasibility studies
and preliminary engineering work is picking up. Investment activity
is likely to remain at the level achieved in 2001. The Forest
Industry business group's earnings and order stock for the first
quarter are good. The business group's earnings for 2002 are likely
                                                               4(11)

to fall slightly short of last year's. 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 quarter have improved compared with 2001, and
annual earnings for 2002 are expected to improve clearly compared
with 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 quarter were not
satisfactory. Taking into account the market prospects in this
sector, the rest of the year will be challenging as well. In spite
of these difficulties, the target is to improve the Energy business
group's earnings clearly compared with 2001, when the result was
depressed by non-recurrent expenses amounting to EUR 6.0 million.
The Infrastructure & Environment business group's order stock is
good and earnings are expected to remain stable during 2002.

The Jaakko Pöyry Group's market position is strong and its order
stock is good. Assuming that the world economy will recover as
expected during 2002, the Group's earnings are expected to remain at
the previous year's level, with the return on investment reaching
its strategic target level.

Vantaa, April 26, 2002

JAAKKO PÖYRY GROUP OYJ
Board of Directors


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 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                                                5(11)



Consolidated Statement of Income         1-3/2002 1-3/2001   1-12/2001
(EUR million)

NET SALES                                   100.4    113.1       431.8

Other operating income                        0.7      0.5         2.0

Share of associated companies' results       -0.1     -0.2         0.2

Operating expenses                          -92.4   -102.8      -392.8

Depreciation of consolidation goodwill       -1.0     -1.0        -4.0
Other depreciation                           -2.2     -2.1        -9.2

OPERATING PROFIT                              5.4      7.5        28.0
Proportion of net sales, %                    5.4      6.6         6.5

Financial income and expenses                -0.2     -0.6        -1.7

PROFIT BEFORE EXTRAORDINARY ITEMS             5.2      6.9        26.3
Proportion of net sales, %                    5.2      6.1         6.1

Extraordinary items                           0.0      0.0         0.0

PROFIT BEFORE TAXES
AND MINORITY INTEREST                         5.2      6.9        26.3

Income taxes                                 -1.8     -2.1        -7.3

Minority interest                            -0.1     -0.3        -1.0

NET PROFIT FOR THE PERIOD                     3.3      4.5        18.0



















JAAKKO PÖYRY GROUP                                                6(11)

                                        March 31, March 31, December 31,
Consolidated Balance Sheet                  2002      2001        2001
(EUR million)

ASSETS

FIXED ASSETS

Consolidation goodwill                      30.9      34.8        31.9
Intangible and tangible assets              37.8      39.2        37.5
Non-current investments                     13.5      17.5        13.2

CURRENT ASSETS

Receivables                                143.2     182.7       152.4
Investments, cash in hand and at banks      31.7      41.1        32.5

                                            257.1     315.3       267.5

SHAREHOLDERS' EQUITY AND LIABILITIES

SHAREHOLDERS' EQUITY                        99.8      93.9       104.7

MINORITY INTEREST                            5.2       5.5         5.1

LIABILITIES*)

Non-current liabilities                     20.1      17.7        20.3
Current liabilities                        132.0     198.2       137.4

                                            257.1     315.3       267.5

*) Interest bearing liabilities             33.6      43.5        29.2
   Non-interest bearing liabilities        118.5     172.4       128.5



















JAAKKO PÖYRY GROUP                                                7(11)

                                        March 31, March 31, December 31,
Contingent Liabilities                      2002      2001        2001
(EUR million)

Pledged assets and mortgages for own
debt
  Pledged assets                              0.0       2.3         0.0
  Mortgages, real estate                      0.0       1.1         0.0
  Mortgages on company assets                 0.2       6.1         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               51.7      60.5        52.8
  Pension obligations                         0.0       0.4         0.0
  Other obligations                          31.9      29.8        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,        12.9      13.2        12.5
 notional values
  Currency options, bought                    0.0       5.0         0.0
  Currency options, sold                      0.0      10.0         0.0


























JAAKKO PÖYRY GROUP                                                8(11)


Key Figures                             1-3/2002  1-3/2001   1-12/2001


Earnings / share, EUR                       0.24      0.33        1.30
  Corrected with dilution effect             0.23      0.30        1.24

Shareholders' equity / share, EUR           7.33      6.83        7.69

Return on investment, % p.a.                15.7      21.6        21.2

Return on equity, % p.a.                    12.6      19.0        17.8

Equity ratio, %                             46.2      38.9        48.9

Equity / Assets ratio, %                    40.8      31.5        41.1

Net debt / Equity ratio (gearing), %         1.8       2.4        -3.0

Consulting and engineering,                270.5     278.6       298.1
EUR million
EPC, EUR million                            17.8      23.5        21.8
Order stock total, EUR million             288.3     302.1       319.9

Capital expenditure, operating,              2.2       2.1         7.9
EUR million
Capital expenditure in shares, EUR           0.0       0.0         0.1
million

Personnel in group companies               4 590     4 584       4 584
on average
Personnel in group companies at the        4 648     4 638       4 584
end of the period
Personnel in associated companies at         194       197         197
the end of the period


















JAAKKO PÖYRY GROUP                                                9(11)

Key Figures for the Business Groups     1-3/2002  1-3/2001   1-12/2001
(EUR million)

NET SALES

Forest Industry                             39.6      40.0       150.2
Forest Industry Consulting                  10.1      12.1        46.4
Energy                                      24.1      34.1       127.0
Infrastructure & Environment                27.0      26.9       107.5
Other                                       -0.4       0.0         0.7
Total                                      100.4     113.1       431.8

OPERATING PROFIT AND PROFIT BEFORE EXTRAORDINARY
ITEMS

Forest Industry                              5.6       5.1        17.8
Forest Industry Consulting                   0.4       0.2         1.3
Energy                                      -1.4      -4.4        -0.6
Infrastructure & Environment                 1.8       2.1         7.9
Other                                       -1.0       4.5         1.6
OPERATING PROFIT TOTAL                       5.4       7.5        28.0

Financial items                             -0.2      -0.6        -1.7

PROFIT BEFORE EXTRAORDINARY ITEMS            5.2       6.9        26.3

ORDER STOCK

Forest Industry                             66.5      93.5        74.2
Forest Industry Consulting                  11.7      22.8        18.5
Energy                                     113.2      90.3       123.5
Infrastructure & Environment                96.9      95.5       103.7
Total                                      288.3     302.1       319.9

Consulting and engineering                 270.5     278.6       298.1
EPC                                         17.8      23.5        21.8

Total                                      288.3     302.1       319.9

NET SALES BY AREA

The Nordic countries                        30.6      39.1       138.3
Other Europe                                42.4      40.2       159.9
Asia                                        13.9      17.4        66.4
North America                                5.2       7.4        29.5
South America                                5.9       5.2        25.4
Other                                        2.4       3.8        12.3
Total                                      100.4     113.1       431.8





JAAKKO PÖYRY GROUP                                               10(11)

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 AND PROFIT BEFORE
EXTRAORDINARY ITEMS

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 BEFORE EXTRAORDINARY 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















JAAKKO PÖYRY GROUP                                           11(11)

Key Figures for the Business Groups    1-3/01 4-6/01 7-9/01 10-12/01
(EUR million)

NET SALES

Forest Industry                          40.0   38.9   33.3    38.0
Forest Industry Consulting               12.1   11.7   11.2    11.4
Energy                                   34.1   33.0   28.0    31.9
Infrastructure & Environment             26.9   26.3   24.6    29.7
Other                                     0.0    0.0    1.0    -0.3
Total                                   113.1  109.9   98.1   110.7

OPERATING PROFIT AND PROFIT BEFORE
EXTRAORDINARY ITEMS

Forest Industry                           5.1    4.7    4.3     3.7
Forest Industry Consulting                0.2    0.4   -0.1     0.8
Energy                                   -4.4    0.6    1.5     1.7
Infrastructure & Environment              2.1    1.4    1.0     3.4
Other                                     4.5   -0.6   -1.0    -1.3
OPERATING PROFIT TOTAL                    7.5    6.5    5.7     8.3

Financial items                          -0.6   -0.4   -0.5    -0.2

PROFIT BEFORE EXTRAORDINARY ITEMS         6.9    6.1    5.2     8.1

ORDER STOCK

Forest Industry                          93.5   82.2   76.7    74.2
Forest Industry Consulting               22.8   23.0   20.4    18.5
Energy                                   90.3   91.2   93.4   123.5
Infrastructure & Environment             95.5   96.2   96.6   103.7
Total                                   302.1  292.6  287.1   319.9

Consulting and engineering              278.6  272.6  265.9   298.1
EPC                                      23.5   20.0   21.2    21.8

Total                                   302.1  292.6  287.1   319.9