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PRESS RELEASE 10 Nov 2004

JAAKKO PÖYRY GROUP AND FINNISH PEROXIDES SIGNED SERVICE CONTRACT FOR EXPANSION OF HYDROGEN PEROXIDE PLANT

JP-Engineering Ltd, which is a member of the Jaakko Pöyry Group's Forest Industry business group, and Oy Finnish Peroxides Ab have signed a contract for engineering, procurement, construction management and site services for the expansion project at the Voikkaa plant.

The project comprises a rebuild of the existing peroxide production line, a new hydrogen plant and an expansion of utility systems. The production capacity of the Voikkaa plant will be doubled. The production line to be rebuilt is scheduled for start-up in December 2005.

The project will be carried out jointly by JP-Engineering Ltd's Kouvola and Vantaa offices, Jaakko Pöyry Oy and JP-Kakko Oy. The contract is in line with the Jaakko Pöyry Group's strategy to expand its services outside the traditional engineering business.

Oy Finnish Peroxides Ab is a part of the Belgian Solvay Group, which is the world's biggest hydrogen peroxide producer. The Group has peroxide plants in Europe, USA, Asia and Brazil.

The Jaakko Pöyry Group's Forest Industry business group uses the brand name Jaakko Pöyry. Its net sales for 2003 were EUR 176 million. The Forest Industry business group has offices in 18 countries and it employs 2100 experts globally.

JAAKKO PÖYRY GROUP OYJ

Teuvo Salminen

Deputy to President and CEO

Additional information:

Tapio Aalto, President, JP-Engineering Ltd

Tel. +358 9 8947 3401, +358 400 432 868

www.poyry.com

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