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STOCK EXCHANGE RELEASE 29 Oct 2002

INTERIM REPORT JANUARY 1 - SEPTEMBER 30, 2002

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           October 29, 2002, 8.30 a.m.         1(12)

INTERIM REPORT JANUARY 1 - SEPTEMBER 30, 2002

Consolidated earnings and balance sheet

Net sales for the period under review were EUR 300.0 million (EUR 321.1
million in the same period 2001). Discontinued and divested businesses
reduced net sales by EUR 13.1 million. Profit before extraordinary items
was EUR 13.3 (18.2) million.

The Jaakko Pöyry Group's consolidated balance sheet is healthy. The
equity ratio was 48.0 (46.8) per cent and the net debt/equity ratio
(gearing) 7.9 (1.7) per cent.

The Jaakko Pöyry Group's earnings per share were EUR 0.59 (0.92) and the
return on investment 13.1 (19.5) per cent.

Business groups

Forest Industry

Net sales for the period under review were EUR 103.9 (112.2) million.
The operating profit amounted to EUR 10.8 (14.1) million. The decline in
operating profit is due to the forest industry's reduced investment ac-
tivity. The order stock was EUR 72.2 (at the end of 2001 74.2) million.

Forest Industry Consulting

Net sales for the period under review were EUR 28.2 (35.0) million. The
operating profit was EUR 1.0 (0.5) million. The operating profit for the
period under review does not include any major fees from mergers &
acquisitions activities. The order stock amounted to EUR 6.9 (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 82.8 (95.1) million.
Discontinued businesses reduced net sales by EUR 7.4 million. The
operating profit was EUR -2.2 (-2.3) million. The order stock amounted
to EUR 125.4 (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.





                                                               2(12)

Infrastructure & Environment

Net sales for the period under review were EUR 85.9 (77.8) million. The
operating profit was EUR 5.9 (4.5) million. The order stock was EUR 97.3
(103.7) million.

Group structure

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

The Jaakko Pöyry Group has expanded its operations in North America by
acquiring the business of Ajami, Bédard, Gagnon, Sexton Inc., a Canadian
forest industry engineering company. Its operations will continue in
Jaakko Pöyry ABGS Inc., a company 100 per cent owned by the Jaakko Pöyry
Group. The company has been 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 EUR 3.4
million.

After the period under review, the group has sold Jaakko Pöyry
Electrowatt (Chile) S.A. to the company's management. The company is a
part of Forest Industry business group and its net sales amounted to EUR
0.6 million in 2001 and it employs about 20 people. The company has been
lossmaking in 2001 and 2002. The sale of the company will have no effect
on the Group's earnings in 2002.

Efforts to further develop the Group's structure and business operations
will continue. 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.


                                                               3(12)

Order stock

The Group's order stock amounted to EUR 301.8 million at the end of
September, compared with EUR 287.1 million at the end of September 2001.
Discontinued and divested operations reduced the order stock by EUR 9.2
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
9.0 (5.4) million, of which EUR 6.5 million consisted of computer
software, systems and hardware.

Share capital and shares

The Annual General Meeting on March 6, 2002 authorised the Board of
Directors to cancel the acquired 309 300 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 153 040 new shares were subscribed based on warrants
pursuant to the Bond Loan with Warrants of 1998. In addition, 15 000 new
shares were subscribed in October 2002. Following these subscriptions,
the number of shares totals 13 791 601.

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 430 615
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 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 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. From September 30 to October 7, 2002 the company acquired
10 000 own shares. The average acquisition price was EUR 12.88.

The company's shares are quoted on the Helsinki Exchanges. The average
trading price during the period under review was EUR 16.97, with a high
of EUR 19.00 and a low of EUR 13.00. A total of 1.4 million of the
company's shares (equalling 10.3 per cent of the total number of shares)
were traded, corresponding to a turnover of EUR 23.9 million.
                                                               4(12)

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

The current year is characterised by slow growth of the world economy.
The economic uncertainty has reduced investment activity and postponed
investment decisions.

The weak economic development has also depressed the forest industry's
investment activity. Numerous pre-studies and preliminary engineering
projects are in progress, but investment decisions have been postponed.
Taking into account the market situation, the Forest Industry business
group's operating profit for 2002 will be satisfactory, though lower
than in the previous year. The operating profit of the Forest Industry
Consulting business group for the review period has improved compared
with 2001. In 2002 the business group's operating profit will improve
clearly compared with last year. However, the improvement will be
dependent on commissions from mergers and acquisitions in the final
months of the year. In the energy sector, market prospects are still
uncertain, though demand for services related to renewable sources of
energy, power plant modernisations and consulting work has recovered.
The Energy business group's order stock has grown, but its favourable
effect on operating profit will not be seen until 2003. The Energy
business group's operating profit for 2002 will remain at last year's
level. The Infrastructure & Environment business group's operating
profit for the review period is good and its order stock is stable. The
operating profit for 2002 will remain at the previous year's level.

In spite of the difficult market situation, the Jaakko Pöyry Group's
order stock has grown during the summer and autumn 2002 and its market
position is strong. Taking into account the business groups' prospects
as outlined above, the consolidated profit before extraordinary items
for 2002 is estimated at EUR 17-21 million.

Vantaa, October 28, 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
                                                               5(12)

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      1-9/2002   1-9/2001 1-12/2001
(EUR million)

NET SALES                                300,0      321,1     431,8

Other operating income                     1,4        1,9       2,0

Share of associated companies'            -0,3        0,2       0,2
results

Operating expenses                      -277,6     -293,7    -392,8

Depreciation of consolidation             -3,2       -3,0      -4,0
goodwill
Other depreciation                        -6,7       -6,8      -9,2

OPERATING PROFIT                          13,6       19,7      28,0
Proportion of net sales, %                 4,5        6,1       6,5

Financial income and expenses             -0,3       -1,5      -1,7

PROFIT BEFORE EXTRAORDINARY ITEMS         13,3       18,2      26,3
Proportion of net sales, %                 4,4        5,7       6,1

Extraordinary items                        0,0        0,0       0,0

PROFIT BEFORE TAXES
AND MINORITY INTEREST                     13,3       18,2      26,3


Income taxes                              -5,0       -5,0      -7,3

Minority interest                         -0,2       -0,4      -1,0

NET PROFIT FOR THE PERIOD                  8,1       12,8      18,0














                                                               7(12)

JAAKKO PÖYRY GROUP

                                      September  September  December
                                           30,        30,       31,
Consolidated Balance Sheet                2002       2001      2001
(EUR million)

ASSETS

FIXED ASSETS

Consolidation goodwill                    35,5       32,9      31,9
Intangible and tangible assets            33,3       37,4      37,5
Non-current investments                   13,0       13,5      13,2

CURRENT ASSETS

Receivables                              152,0      170,9     152,4
Investments, cash in hand and at          22,3       33,0      32,5
banks

                                          256,1      287,7     267,5

SHAREHOLDERS' EQUITY AND
LIABILITIES

SHAREHOLDERS' EQUITY                     102,5      103,7     104,7

MINORITY INTEREST                          4,9        5,1       5,1

LIABILITIES *)

Non-current liabilities                   20,2       28,3      20,3
Current liabilities                      128,5      150,6     137,4

                                         256,1      287,7     267,5

*) Interest bearing liabilities           30,8       34,8      29,2
   Non-interest bearing                  117,9      144,1     128,5
   liabilities













                                                               8(12)

JAAKKO PÖYRY GROUP

                                      September  September  December
                                           30,        30,       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        0,0       0,0
  Mortgages on company assets               0,2        0,4       0,4

Other obligations
  Pledged assets                            2,3        2,6       2,4
  Mortgages, real estate                    0,0        1,4       1,4
  Rent and leasing obligations             47,9       55,9      52,8
  Pension obligations                       0,0        0,4       0,0
  Other obligations                        27,9       36,1      31,9

For others
  Pledged assets                            0,3        0,1       0,2
  Mortgages, real estate                    3,8        3,8       3,8
  Other obligations                         0,1        0,0       0,0


Derivative Instruments

  Foreign exchange forward                 11,3        9,2      12,5
 contracts, notional values
  Currency options, bought                  0,0        5,0       0,0
  Currency options, sold                    0,0       10,0       0,0





















                                                               9(12)

JAAKKO PÖYRY GROUP


Key Figures                           1-9/2002   1-9/2001 1-12/2001


Earnings / share, EUR                     0,59       0,92      1,30
  Corrected with dilution effect          0,57       0,85      1,24

Shareholders' equity / share, EUR         7,44       7,48      7,69

Return on investment, % p.a.              13,1       19,5      21,2

Return on equity, % p.a.                  10,2       16,7      17,8

Equity ratio, %                           48,0       46,8      48,9

Equity / Assets ratio, %                  40,0       37,8      41,1

Net debt / Equity ratio                    7,9        1,7      -3,0
(gearing), %

Consulting and engineering, EUR          292,6      265,9     298,1
million
EPC, EUR million                           9,2       21,2      21,8
Order stock total, EUR million           301,8      287,1     319,9

Capital expenditure, operating,            6,5        5,3       7,9
EUR million
Capital expenditure in shares,             2,5        0,1       0,1
EUR million

Personnel in group companies in          4 628      4 583     4 584
average
Personnel in group companies at          4 611      4 557     4 584
the end of the period
Personnel in associated companies          193        204       197
at the end of the period















                                                               10(12)

JAAKKO PÖYRY GROUP

Key Figures for the Business          1-9/2002   1-9/2001 1-12/2001
Groups
(EUR million)

NET SALES

Forest Industry                          103,9      112,2     150,2
Forest Industry Consulting                28,2       35,0      46,4
Energy                                    82,8       95,1     127,0
Infrastructure & Environment              85,9       77,8     107,5
Other                                     -0,8        1,0       0,7
Total                                    300,0      321,1     431,8

OPERATING PROFIT AND PROFIT BEFORE
EXTRAORDINARY ITEMS

Forest Industry                           10,8       14,1      17,8
Forest Industry Consulting                 1,0        0,5       1,3
Energy                                    -2,2       -2,3      -0,6
Infrastructure & Environment               5,9        4,5       7,9
Other                                     -1,9        2,9       1,6
OPERATING PROFIT TOTAL                    13,6       19,7      28,0

Financial items                           -0,3       -1,5      -1,7

PROFIT BEFORE EXTRAORDINARY ITEMS         13,3       18,2      26,3

ORDER STOCK

Forest Industry                           72,2       76,7      74,2
Forest Industry Consulting                 6,9       20,4      18,5
Energy                                   125,4       93,4     123,5
Infrastructure & Environment              97,3       96,6     103,7
Total                                    301,8      287,1     319,9

Consulting and engineering               292,6      265,9     298,1
EPC                                        9,2       21,2      21,8

Total                                    301,8      287,1     319,9

NET SALES BY AREA

The Nordic countries                      88,0      104,2     138,3
Continental Europe                       123,6      115,1     159,9
Asia                                      46,5       49,1      66,4
North America                             16,0       21,8      29,5
South America                             17,2       19,7      25,4
Other                                      8,7       11,2      12,3
Total                                    300,0      321,1     431,8


                                                               11(12)

JAAKKO PÖYRY GROUP

Key Figures for the Business Groups   10-12/00  1-3/01  4-6/01 7-9/01
(EUR million)

NET SALES

Forest Industry                          31,7    40,0    38,9   33,3
Forest Industry Consulting               13,3    12,1    11,7   11,2
Energy                                   47,0    34,1    33,0   28,0
Infrastructure & Environment             28,9    26,9    26,3   24,6
Other                                    -3,9     0,0     0,0    1,0

Total                                   117,0   113,1   109,9   98,1

OPERATING PROFIT AND PROFIT BEFORE
EXTRAORDINARY ITEMS

Forest Industry                           4,2     5,1     4,7    4,3
Forest Industry Consulting                0,2     0,2     0,4   -0,1
Energy                                    2,4    -4,4     0,6    1,5
Infrastructure & Environment              2,7     2,1     1,4    1,0
Other                                    -0,7     4,5    -0,6   -1,0

OPERATING PROFIT TOTAL                    8,8     7,5     6,5    5,7

Financial items                           0,0    -0,6    -0,4   -0,5

PROFIT BEFORE EXTRAORDINARY ITEMS         8,8     6,9     6,1    5,2

ORDER STOCK

Forest Industry                          71,8    93,5    82,2   76,7
Forest Industry Consulting               25,6    22,8    23,0   20,4
Energy                                  111,6    90,3    91,2   93,4
Infrastructure & Environment             96,5    95,5    96,2   96,6

Total                                   305,5   302,1   292,6  287,1

Consulting and engineering              278,7   278,6   272,6  265,9
EPC                                      26,8    23,5    20,0   21,2

Total                                   305,5   302,1   292,6  287,1










                                                               12(12)

JAAKKO PÖYRY GROUP

Key Figures for the Business Groups     10-12/01 1-3/02 4-6/02 7-9/02
(EUR million)

NET SALES

Forest Industry                            38,0   39,6   34,6   29,7
Forest Industry Consulting                 11,4   10,1   10,2    7,9
Energy                                     31,9   24,1   27,8   30,9
Infrastructure & Environment               29,7   27,0   30,9   28,0
Other                                      -0,3   -0,4    0,0   -0,4

Total                                     110,7  100,4  103,5   96,1

OPERATING PROFIT AND PROFIT BEFORE
EXTRAORDINARY ITEMS

Forest Industry                             3,7    5,6    2,9    2,3
Forest Industry Consulting                  0,8    0,4    0,6    0,0
Energy                                      1,7   -1,4   -0,5   -0,3
Infrastructure & Environment                3,4    1,8    1,8    2,3
Other                                      -1,3   -1,0   -0,1   -0,8

OPERATING PROFIT TOTAL                      8,3    5,4    4,7    3,5

Financial items                            -0,2   -0,2    0,3   -0,4

PROFIT BEFORE EXTRAORDINARY ITEMS           8,1    5,2    5,0    3,1

ORDER STOCK

Forest Industry                            74,2   66,5   60,3   72,2
Forest Industry Consulting                 18,5   11,7    7,2    6,9
Energy                                    123,5  113,2  119,6  125,4
Infrastructure & Environment              103,7   96,9   93,8   97,3

Total                                     319,9  288,3  280,9  301,8

Consulting and engineering                298,1  270,5  266,8  292,6
EPC                                        21,8   17,8   14,1    9,2

Total                                     319,9  288,3  280,9  301,8




The figures in the interim report are unaudited.