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STOCK EXCHANGE RELEASE 27 Apr 2005

INTERIM REPORT JANUARY 1 - MARCH 31, 2005

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           April 27, 2005 at 8.30 a.m.         1(13)

INTERIM REPORT JANUARY 1 - MARCH 31, 2005

The Jaakko Pöyry Group's net sales for the period under review were EUR
123.3 (115.5 in the same period 2004) million. Profit before taxes was
EUR 7.5 (6.6) million.

The Group's consolidated balance sheet is healthy. The equity ratio was
48.9 (48.7) per cent and the net debt/equity ratio (gearing) -28.3
(-30.1) per cent.

Earnings per share were EUR 0.33 (0.30) and the return on investment
21.3 (19.2) per cent.

The order stock was EUR 376.9 million. It increased by EUR 3.7 million
during the period under review.

Consolidated net sales will increase during 2005. Profit before taxes is
estimated to improve in 2005.

Adoption of IFRS standards

The Jaakko Pöyry Group reports its accounts according to the
International Financial Reporting Standards (IFRS) from the beginning of
2005. All comparable figures for 2004 in this Interim Report are also in
accordance with IFRS. The main adjustments to the statement of income
and balance sheet relate to calculation and recording of pension
arrangements, deferred tax receivables and goodwill. As the Group's
accounting and reporting principles already have been largely in line
with the IFRS standards, the adoption of IFRS standards does not have
any other significant effects on the Group's profit, balance sheet and
equity.

Jaakko Pöyry Group published a separate stock exchange notice on
February 3, 2005 regarding the impact of the IFRS changes. The same
information is included in the Financial Statements part of the Annual
Report 2004.

Business groups

Forest Industry

Net sales for the period under review were EUR 50.0 (47.1) million.
Operating profit amounted to EUR 4.1 (3.5) million.

Investment activity in the forest industry has remained low. Demand has
focused on rebuilding and maintenance investments. Demand for consulting
services increased slightly during the review period.

Taking into account the market situation, the business group's order
stock has remained good. New orders received have mainly been concerned
with rebuilding and maintenance investments, and consulting services.
The order stock, EUR 82.5 million, has remained at the same level as at
the end of last year (EUR 82.5 million, end of 2004).

Energy

Net sales for the period under review were EUR 37.8 (33.0) million.
Operating profit was EUR 2.0 (1.8) million.


                                                               2(13)

Demand for energy-related services has remained good and the business
group has strengthened its market position. The integration of
Verbundplan GmbH, which was acquired in 2004, has proceeded according to
plan and the integration process has now been completed.

The order stock has remained good, amounting to EUR 167.1 (171.8)
million. New projects entered into the order stock consisted of numerous
small and medium-size projects in Europe and Asia.

Infrastructure & Environment

Net sales for the period under review were EUR 35.7 (35.5) million.
Operating profit was EUR 1.3 (1.3) million.

Demand for the business group's services has remained basically stable.
In Western Europe, especially in Germany, investments in traffic systems
have remained low. In Eastern Europe, including Russia, demand and
investments are growing.

The order stock amounted to EUR 127.0 (118.8) million. The order stock
remained good and the increase consisted mostly of numerous small and
medium-size projects in all of the business group's areas of operation
in Europe and Asia.

Group structure

There were no changes in the group structure during the period under
review.

Order stock

The Group's order stock is good. It increased by EUR 3.7 million during
the period under review, totalling EUR 376.9 million at the end of
March. At the end of 2004 the order stock was EUR 373.2 million.

Capital expenditure

The Group's capital expenditure for the period under review totalled EUR
3.1 (2.2) million, of which EUR 1.9 (2.2) million consisted of computer
software, hardware and systems and EUR 1.2 (0.0) million were capital
expenditure due to share investments.

Share capital and shares

The total number of shares at the end of 2004 was 14 109 851. During the
period under review 183 650 new shares were subscribed based on warrants
pursuant to the Bond Loan with Warrants issued in 1998. After the period
under review 176 850 new shares have been subscribed. Following the
registration of the subscribed shares, the number of shares totals
14 470 351.

The warrants related to the Bond Loan with Warrants issued by Jaakko
Pöyry Group Oyj in 1998 carry subscription rights for a total of 1.3
million of the company's shares. The subscription period ends on April
30, 2005. A total of 1 272 065 shares have been subscribed based on the
warrants.

Jaakko Pöyry Group Oyj issued in 2004 stock options to the management of
the Group as well as to a wholly-owned subsidiary of Jaakko Pöyry Group
Oyj. The stock options entitle to subscription of a maximum of 550 000
shares in Jaakko Pöyry Group Oyj. Each stock option entitles the holder
                                                               3(13)

to subscribe one share in the company. The share subscription periods
are the following: for 165 000 shares between March 1, 2007 and March
31, 2010, for 165 000 shares between March 1, 2008 and March 31, 2011,
and for 220 000 shares between March 1, 2009 and March 31, 2012. All
stock options have been issued and their receipt confirmed.

The Annual General Meeting on March 3, 2005 authorised the Board of
Directors to decide on an increase in the 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 the 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 3, 2006.

The Annual General Meeting authorised the Board of Directors to acquire
and convey the company's own shares to a maximum of 700 000 shares,
which equals less than 5 per cent of the company's share capital. The
authorisations are in force until March 3, 2006.

The Annual General Meeting decided that a dividend of EUR 1.20 be
distributed per outstanding share for 2004 (for 2003 1.00 and additional
dividend 0.50), totalling EUR 16.9 million. The dividend was paid on
March 15, 2005.

The company's shares are quoted on the Helsinki Exchanges. The average
trading price during the period under review was EUR 25.18, with a high
of EUR 26.99 and a low of EUR 22.20. A total of 1.1 million of the
company's shares were traded, equalling 7.8 per cent of the total number
of shares and corresponding to a turnover of EUR 27.8 million.

Prospects

Recently, prospects in the forest industry have improved slightly. The
number of new investments in Europe and North America is, however,
expected to remain low during 2005, focusing primarily on
modernisations. Large new investments are expected to go ahead during
this and next year mainly in South America. Demand for consulting and
investment banking services is growing in industrialised countries as
well as in emerging markets. The Forest Industry business group's
operating profit will improve somewhat in 2005.

Good opportunities for growth in demand for energy-related services are
emerging in East Asia, China and, as the EU expands, to some degree also
in Europe. This applies in particular to renewable energy, plant
modernisations and management consulting services. The market position
of the Energy business group has improved and the order stock is good.
The business group's operating profit will improve in 2005.

Demand for the Infrastructure & Environment business group's traffic
systems expertise has remained good in emerging markets. In Western
Europe, demand for traffic systems expertise remains slack. In the water
and environment sector, demand is expected to remain unchanged. Demand
for building services has picked up in all of the business group's main
markets, i.e. in Finland, the Baltic countries and Russia. The business
group's order stock is good, having increased by EUR 8.2 million during
the period under review. Its operating profit will remain stable in
2005.

The Group has a solid market position in all of its business groups. The
order stock increased during the period under review. The Group's
balance sheet structure and liquidity are good. Consolidated net sales
                                                               4(13)

will increase in 2005. Profit before taxes is estimated to improve in
2005.

Vantaa, April 26, 2005

JAAKKO PÖYRY GROUP OYJ
Board of Directors

JAAKKO PÖYRY GROUP OYJ



Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Deputy to President and CEO

Additional information by:
Erkki Pehu-Lehtonen, President and CEO, Jaakko Pöyry Group Oyj
tel. +358 9 8947 2999, +358 400 468 084
Teuvo Salminen, Deputy to President and CEO, Jaakko Pöyry Group Oyj
tel. +358 9 8947 2872, +358 400 420 285
Satu Perälampi, Investor Relations Manager, Jaakko Pöyry Group Oyj
tel. +358 9 8947 3002, +358 40 526 3388

www.poyry.com

DISTRIBUTION:
Helsinki Exchanges
Major media



                                                               5(13)

JAAKKO PÖYRY GROUP

Consolidated Statement of Income     1-3/2005  1-3/2004     1-12/2004
EUR million

NET SALES                               123.3     115.5         473.9

Other operating income                    0.1       0.3           2.1
Share of associated companies'            0.1       0.1           0.5
results

Materials and supplies                  -13.9     -10.0         -64.9
Personnel expenses                      -71.2     -68.7        -266.4
Depreciation                             -2.0      -2.2          -9.1
Other operating expenses                -29.2     -28.5        -106.2

OPERATING PROFIT                          7.2       6.5          29.9
Proportion of net sales, %                5.8       5.6           6.3

Financial income                          0.4       0.2           1.6
Financial expenses                       -0,1      -0,1          -0.8
Exchange rate differences                 0.0       0.0           0.2

PROFIT BEFORE TAXES                       7.5       6.6          30.9
Proportion of net sales, %                6.1       5.7           6.5

Income taxes                             -2.5      -2.2         -10.0

NET PROFIT FOR THE PERIOD                 5.0       4.4          20.9

Attributable to:
Equity holders of the parent              4.7       4.3          19.7
company
Minority interest                         0.3       0.1           1.2

Earnings / share, for profit attributable to
the equity holders
of the parent company, EUR               0.33      0.30          1.42
  Corrected with dilution effect         0.33      0.29          1.38

Net profit attributable to the equity               3.6          18.0
holders of the parent company, FAS

  Pension expenses from benefit plans              -0.5          -2.0
  Expenses from option programmes                   0.0          -0.7
  Depreciation of consolidation                     1.3           4.9
  goodwill
  Change in deferred tax receivables               -0.1          -0.5
Total changes                                       0.7           1.7
Net profit attributable to the equity               4.3          19.7
holders of the parent company, IFRS







                                                               6(13)


Consolidated Balance Sheet           March 31, March 31,  December 31,
EUR million                               2005      2004          2004

ASSETS
NON-CURRENT ASSETS
Goodwill                                  33.7      33.1          33.6
Intangible assets                          4.6       4.8           4.4
Tangible assets                           15.7      17.6          15.8
Non-current investments                   12.0       9.7          10.4
Deferred tax receivable                    5.9       5.8           6.2
Other                                      5.2       6.4           5.5
                                          77.1      77.4          75.9
CURRENT ASSETS
Work in progress                          65.2      46.1          46.6
Accounts receivable                       96.1      81.4         105.4
Other receivables                         24.1      21.3          22.5
Investments, cash in hand and at          46.8      49.7          62.2
banks
                                         232.2     198.5         236.7

TOTAL                                    309.3     275.9         312.6

EQUITY AND LIABILITIES
EQUITY ATTRIBUTABLE TO THE EQUITY
HOLDERS OF THE PARENT COMPANY
Share capital                             14.3      13.9          14.1
Share premium reserve                     29.4      26.8          28.4
Legal reserve                             18.2      18.2          18.2
Retained earnings                         49.2      48.4          46.2
Net profit for the period                  4.7       4.3          19.7
                                         115.8     111.6         126.6
Minority interest                          7.4       4.2           7.1
TOTAL EQUITY                             123.2     115.8         133.7

NON-CURRENT LIABILITIES
Non-current loans from credit              8.6      11.2           8.6
institutions
Other interest bearing non-current         0.7       1.0           0.7
liabilities
Other non-current liabilities             14.1      12.3          14.0
                                          23.4      24.5          23.3
CURRENT LIABILITIES
Current loans from credit                  2.3       2.1           2.6
institutions
Other interest bearing current             0.3       0.5           0.3
liabilities
Project advances                          57.4      38.3          51.6
Accounts payable                          16.5      11.3          13.9
Other current liabilities                 86.2      83.4          87.2
                                         162.7     135.6         155.6

TOTAL                                    309.3     275.9         312.6






                                                               7(13)

                                     March 31, March 31,  December 31,
                                          2005      2004          2004

Equity attributable to the equity
holders of the parent company, FAS                 100.6         117.5

  Benefit plans, net assets                          6.0           4.6
  Deferred tax receivables                           5.3           4.9
  Financial assets, value decrease                  -0.1          -0.2
  Other                                             -0.2          -0.2
Total changes                                       11.0           9.1
Equity attributable to the equity
holders of the parent company, IFRS                111.6         126.6


                                                               8(13)

Statement of changes in financial    1-3/2005  1-3/2004     1-12/2004
situation
EUR million

FROM OPERATIONS
  Operating profit                        7.2       6.5          29.9
  Depreciation and value decrease         2.0       2.2           9.1
  Gain on sale of fixed assets            0.0       0.0          -0.4
  Share of associated companies'         -0.1      -0.1          -0.5
  results
  Change in net working capital          -3.4      -7.1          13.3
  Financial income and expenses           0.2       0.3           1.0
  Taxes                                  -2.6      -1.0         -15.0

Total from operations                     3,3       0.8          37.4

CAPITAL EXPENDITURE
  Investments in shares in                0.0       0.0         -11.3
  subsidiaries
  Investments in other shares            -1.2       0.0          -0.1
  Investments in fixed assets            -1.9      -2.2          -7.3
  Sales of shares in associated           0.0       0.0           0.0
  companies
  Sales of other                          0.0       0.0           0.1
  Sales of  fixed assets                  0.0       0.4           1.5

Capital expenditure total                -3.1      -1.8         -17.1

Cash flow before financing                0.2      -1.0          20.3

FINANCING
  New loans                               0.0       0.0           0.0
  Repayments of loans                    -0.5       0.0          -2.1
  Change in current financing             0.2      -0.1          -0.1
  Change in non-current investments       0.0       0.0          -0.3
  Dividends                             -16.5     -12.7         -20.7
  Share subscription                      1.2       0.0           2.3
  Translation difference                  0.0       0.4          -0.3

Financing total                         -15.6     -12.4         -21.2

Change in liquid assets                 -15.4     -13.4          -0.9

Liquid assets January 1                  62.2      63.1          63.1

Liquid assets at the end of period       46.8      49.7          62.2



                                                               9(13)

Changes in equity                    1-3/2005  1-3/2004     1-12/2004
EUR million

Share capital Jan. 1                     14.1      14.0          14.0
  Cancellation of own shares              0.0      -0.1          -0.1
  Shares subscribed with warrants         0.2       0.0           0.2
Share capital end of period              14.3      13.9          14.1

Share premium reserve Jan. 1             28.4      26.3          26.3
  Cancellation of own shares              0.0       0.1           0,1
  Shares subscribed with warrants         1.0       0.4           2.0
Share premium reserve end of period      29.4      26.8          28.4

Legal reserve Jan. 1 / end of            18.2      18.2          18.2
period

Own shares Jan.1 / end of period        -12.8     -12.8         -12.8

Translation differences Jan. 1          -10.7     -10.8         -10.8
  Change during the period                0.0       0.0           0.1
Translation differences end of          -10.7     -10.8         -10.7
period

Retained earnings Jan. 1,                89.4      94.5          94.5
  Payment of dividend                   -16.9     -20.7         -20.7
  Other changes                           0.2      -1.7          -4,0
  Translation differences                 0.0      -0.1          -0,1
  Net profit for the period               4.7       4.3          19.7
Retained earnings end of period          77.4      76.3          89.4

Minority interest Jan. 1                  7.1       4.2           4.2
  Increase                                0.0      -0.1           1.7
  Net profit for the period               0.3       0.1           1.2
Minority interest end of period           7.4       4.2           7.1

Total equity Jan. 1                     133.7     133.6         133.6
  Payment of dividend                   -16.9     -20.7         -20.7
  Shares subscribed with warrants         1.2       0.4           2.2
  Other changes                           0.2      -1.7          -4.0
  Minority increase                       0.0      -0.1           1.7
  Translation differences                 0.0      -0.1           0.0
  Net profit for the period               5.0       4.4          20.9
Total equity end of period              123.2     115.8         133.7
















                                                               10(13)

Contingent liabilities              March 31, March 31,  December 31,
EUR million                              2005      2004          2004

Pledged assets and mortgages for
own debt
  Mortgages on company assets             0.0       0.0           0.0

Other obligations
  Pledged assets                          0.3       0.2           0.3
  Rent and leasing obligations          107.2     107.5         108.2
  Pension obligations                     0.0       0.0           0.0
  Other obligations                      40.2      36.6          40.3

For others
  Pledged assets                          0.1       0.0           0.1
  Mortgages, real estate                  0.0       0.0           0.0
  Other obligations                       0.0       0.0           0.0

Derivative Instruments

Foreign exchange forward contracts,
  Notional values                        14.5      20.1          16.6
  Fair values                            -0.2      -0.4           0.3

  Interest rate swaps, fair values       -0.1                    -0.1

Jaakko Pöyry Group Oyj has made
interest rate swaps for EUR 10.8
million external loans.































                                                               11(13)

Key figures                          1-3/2005  1-3/2004     1-12/2004


Earnings / share, EUR                    0.33      0.30          1.42
  Corrected with dilution effect         0.33      0.29          1.38

Shareholders' equity / share, EUR        8.10      8.08          9.09

Return on investment, % p.a.             21.3      19.2          21.4

Return on investment, % p.a. for
the Business Groups
  Forest Industry                        25.2
  Energy                                 14.9
  Infrastructure & Environment           10.4

Return on equity, % p.a.                 15.6      14.1          15.6

Equity ratio, %                          48.9      48.7          51.2

Equity / Assets ratio, %                 39.8      42.0          42.8

Net debt / Equity ratio                 -28.3     -30.1         -37.4
(gearing), %

Net debt, EUR million                   -34.9     -34.9         -50.0

Consulting and engineering,             366.7     368.0         359.3
EUR million
EPC, EUR million                         10.2      14.8          13.9
Order stock total, EUR million          376.9     382.8         373.2

Capital expenditure, operating,           1.9       2.2           7.3
EUR million
Capital expenditure in shares,            1.2       0.0          11.4
EUR million

Personnel in group companies             5331      5191          5219
on average
Personnel in group companies
at the end of the period                 5314      5193          5309
Personnel in associated companies
at the end of the period                  244       194           240
















                                                               12(13)

Key figures for the business groups  1-3/2005  1-3/2004     1-12/2004
EUR million

NET SALES
Forest Industry                          50.0      47.1         186.3
Energy                                   37.8      33.0         146.5
Infrastructure & Environment             35.7      35.5         142.1
Other                                    -0.2      -0.1          -1.0
Total                                   123.3     115.5         473.9

OPERATING PROFIT AND NET PROFIT FOR THE
PERIOD
Forest Industry                           4.1       3.5          17.2
Energy                                    2.0       1.8           7.0
Infrastructure & Environment              1.3       1.3           7.0
Other                                    -0.2      -0.1          -1.3
Operating profit total                    7.2       6.5          29.9

Financial items                           0.3       0.1           1.0
Profit before taxes                       7.5       6.6          30.9

Income taxes                             -2.5      -2.2         -10.0
Net profit for the period                 5.0       4.4          20.9
Profit attributable to:
Equity holders of the parent              4.7       4.3          19.7
company
Minority interest                         0.3       0.1           1.2

OPERATING PROFIT %
Forest Industry                           8.2       7.4           9.2
Energy                                    5.3       5.5           4.8
Infrastructure & Environment              3.6       3.7           4.9
Total                                     5.8       5.6           6.3

ORDER STOCK
Forest Industry                          82.5      94.6          82.5
Energy                                  167.1     166.7         171.8
Infrastructure & Environment            127.0     121.5         118.8
Other                                     0.3       0.0           0.1
Total                                   376.9     382.8         373.2

Consulting and engineering              366.7     368.0         359.3
EPC                                      10.2      14.8          13.9
                                        376.9     382.8         373.2
NET SALES BY AREA
The Nordic countries                     33.6      28.3         125.2
Europe                                   55.4      54.2         211.4
Asia                                     16.3      15.4          70.6
North America                             4.3       5.4          18.2
South America                             7.6       5.1          23.2
Other                                     6.1       7.1          25.3
Total                                   123.3     115.5         473.9






                                                               13(13)

Key figures for the business     1-3/04    4-6/04    7-9/04  10-12/04
groups
EUR million

NET SALES
Forest Industry                    47.1      48.4      40.7      50.1
Energy                             33.0      35.7      35.5      42.3
Infrastructure & Environment       35.5      34.7      34.6      37.3
Other                              -0.1       0.0      -0.4      -0.5
Total                             115.5     118.8     110.4     129.2

OPERATING PROFIT AND NET PROFIT
FOR THE PERIOD
Forest Industry                     3.5       4.3       4.1       5.3
Energy                              1.8       1.3       1.4       2.5
Infrastructure & Environment        1.3       1.5       2.1       2.1
Other                              -0.1      -0.3      -0.2      -0.7
Operating profit total              6.5       6.8       7.4       9.2

Financial items                     0.1       0.2       0.2       0.5
Profit before taxes                 6.6       7.0       7.6       9.7

Income taxes                       -2.2      -2.5      -1.4      -3.9
Net profit for the period           4.4       4.5       6.2       5.8
Profit attributable to:
Equity holders of the parent        4.3       4.1       6.1       5.2
company
Minority interest                   0.1       0.4       0.1       0.6

OPERATING PROFIT %
Forest Industry                     7.4       8.9      10.1      10.6
Energy                              5.5       3.6       3.9       5.9
Infrastructure & Environment        3.7       4.3       6.1       5.6
Total                               5.6       5.7       6.7       7.1

ORDER STOCK
Forest Industry                    94.6      90.4      83.0      82.5
Energy                            166.7     181.8     184.6     171.8
Infrastructure & Environment      121.5     118.8     117.1     118.8
Other                               0.0       0.0       0.1       0.1
Total                             382.8     391.0     384.8     373.2

Consulting and engineering        368.0     371.3     367.1     359.3
EPC                                14.8      19.7      17.7      13.9
Total                             382.8     391.0     384.8     373.2

The figures in the interim
report are unaudited.




4.8     373.2

The figures in the interim
report are unaudited.