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STOCK EXCHANGE RELEASE 28 Jul 2005

JAAKKO PÖYRY GROUP ACQUIRES WATER AND ENVIRONMENTAL ENGINEERING COMPANY IN GERMANY

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           July 28, 2005 at 8.00 a.m.          1(2)

JAAKKO PÖYRY GROUP ACQUIRES WATER AND ENVIRONMENTAL ENGINEERING COMPANY
IN GERMANY

Jaakko Pöyry Group Oyj has signed an agreement to acquire 100 per cent
of the German consulting and engineering company GKW Holding GmbH and
all its subsidiaries from Bilfinger Berger AG. The closure of the
transaction is subject to approval by the German competition
authorities. The objective is to close the deal by September, 2005.

GKW Holding GmbH is Germany's leading consulting and engineering company
in the water and environmental engineering area. GKW has operations in
various locations in Germany and it has 270 employees. The company's net
sales amounted to about EUR 30 million and its operating profit was EUR
0.7 million in 2004. The effect of the deal on the Jaakko Pöyry Group's
earnings for 2005 is expected to be neutral and for 2006 positive. The
transaction price to be paid for GKW Holding AG and its subsidiaries is
EUR 6.3 million. GKW Holding is debt-free.

GKW's main business areas are wastewater treatment, water
infrastructure, water supply, environmental studies and solid waste
management. German aid organisations and international financing
institutes account for about half of GKW's net sales. The company is a
market leader in Germany and it has a strong position in the
international market, especially in Africa. Following the deal, the
company will be able to make use of the Jaakko Pöyry Group's
international network of offices to further internationalise its
activities.

The acquisition of GKW strengthens the Jaakko Pöyry Group's market
position in the water and environment sector especially in Western
Europe and also in the international markets relying on public funding.
After the transaction GKW will continue its operations as an independent
company and as part of the Jaakko Pöyry Group's Infrastructure &
Environment business group. The Jaakko Pöyry Group will consolidate the
acquired companies' earnings for the period September 1 - December 31
2005 in connection with its annual accounts for the year 2005.

The Jaakko Pöyry Group is one of the world's leading consulting and
engineering firms. The Group employs about 5300 experts in 42 countries,
and its net sales for 2004 were EUR 474 million. The Group has three
core areas of expertise: forest industry, energy and infrastructure &
environment. Following the deal the Jaakko Pöyry Group will employ 1300
experts in the German speaking countries Austria, Germany and
Switzerland in all of its core areas.

Bilfinger Berger is a leading international multi-service group listed
on the Frankfurt Stock Exchange with a current market capitalization of
more than EUR 1.5 billion. With 50 000 employees the group supplies
comprehensive solutions in the areas of building, industrial services
and infrastructure and is represented on all continents through branch
offices and subsidiaries. In the 2004 financial year, Bilfinger Berger
generated an output volume of EUR 6.1 billion with an international
share of 65 per cent.
                                                               2(2)

JAAKKO PÖYRY GROUP OYJ


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

Additional information by:
Teuvo Salminen, Deputy to President and CEO, Jaakko Pöyry Group Oyj
Tel. +358 9 8947 2872, +358 400 420 285

www.poyry.com

DISTRIBUTION:
Helsinki Stock Exchange
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