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PRESS RELEASE 11 Mar 2003

JAAKKO PÖYRY GROUP ACQUIRES THE BUSINESS OF REDBEARD CONSULTING


JP Management Consulting (Europe) Oy, which is a part of the Jaakko Pöyry Group's Forest Industry Consulting business group, has acquired the business of Redbeard Consulting B.V., which operates in the European market. In connection with the deal, the company's founding partners and key resources will take up new positions with JP Management Consulting.

Redbeard Consulting offers strategic and IT consulting services focused on supply chain process integration and sales network development in the European paper industry. The company specialises in assisting major forest industry players engage in partner and industry initiatives.

Jaakko Pöyry Consulting has completed an increasing number of consulting assignments in the area of information technology and business process consulting and is committed to expanding this practice area. This acquisition further strengthens Jaakko Pöyry Consulting's range of services and contributes additional expertise and resources. Jaakko Pöyry Consulting's international network of offices is now capable of offering its forest industry clients a broader range of services in information technology and business process consulting.

The Forest Industry Consulting business group uses the brand name Jaakko Pöyry Consulting. Its net sales for 2002 were EUR 36 million. The Forest Industry Consulting business group has offices in 12 countries and employs about 270 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations

Additional information by:

Tapio Korpeinen, Managing Partner, Jaakko Pöyry Consulting

Tel.: +358 9 8947 2042

Olli Heikkilä, Associate Principal, JP Management Consulting (Europe) Oy

Tel.: +358 40 505 6387

www.poyry.com

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