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PRESS RELEASE 27 Jun 2003

JAAKKO PÖYRY GROUP ACQUIRES A BRITISH ENERGY CONSULTING COMPANY


Electrowatt-Ekono has expanded its energy consulting business by acquiring ILEX Energy Consulting Ltd, UK. With this acquisition Electrowatt-Ekono will become the leading energy management consultant serving the European energy sector.

Electrowatt-Ekono, which belongs to the Jaakko Pöyry Group's Energy business group, has expanded its energy consulting operations by acquiring ILEX Energy Consulting Ltd, situated in Oxford, UK. The company's net sales for 2002 were EUR 3.7 million. Its senior management and key resources will take up positions within Electrowatt-Ekono.

Founded in 1990, ILEX Energy Consulting specialises in the competitive deregulated electricity, gas and emerging carbon and renewable energy markets. The company is a recognised energy consultant in these areas and it is active in the UK and Ireland, and more recently also in Italy and Spain. The company's major clients include energy producers, utility companies, distributors, banks and governmental authorities.

The acquisition of ILEX Energy Consulting further strengthens Electrowatt-Ekono with specialist expertise. Electrowatt-Ekono's management consulting business covers the integral business process of the energy sector. Its services range from strategy to business development, including implementation and operative management, which makes it unique among energy consultants.

The strategic long-term target of the Jaakko Pöyry Group has been to expand the Energy business group's management consulting services. By combining the resources of Electrowatt-Ekono with the local knowledge, client contacts and market position of ILEX Energy Consulting, the Jaakko Pöyry Group will be able to enhance its business in the energy sector in Europe. Following this acquisition, Electrowatt-Ekono will become the leading energy management consulting company in Europe, employing about 100 specialised consultants.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 112 million in 2002. Electrowatt-Ekono has offices in 20 countries and employs 1100 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations Manager

Additional information by:

Kurt Bobst, Director, Management Consulting Business Area, Electrowatt-Ekono, Zurich/Switzerland

Tel. +41 1 355 55 54

Richard Pinnock, CEO, Electrowatt-Ekono, Zurich/Switzerland

Tel. +41 76 356 2410

www.poyry.com

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