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STOCK EXCHANGE RELEASE 15 Mar 2002

JAAKKO PÖYRY GROUP APPOINTED ENGINEERING CONSULTANT IN HOLMEN PAPER AB´S PAPELERA PENINSULAR NEWSPRINT PROJECT

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           March 15, 2002 at 12.00 a.m.

JAAKKO PÖYRY GROUP APPOINTED ENGINEERING CONSULTANT IN HOLMEN PAPER
AB´S PAPELERA PENINSULAR NEWSPRINT PROJECT

Jaakko Pöyry Oy, which is part of the Jaakko Pöyry Group's Forest
Industry business group, has been appointed engineering consultant
for Holmen Paper AB's Papelera Peninsular Paper Mill project in
Spain.

This important project includes complete pre-engineering and
implementation engineering for the paper machine, warehouse and
maintenance departments. The new PM62 will produce 350 000 t/a of
100 % recycled fibre-based newsprint grades. The pre-engineering
phase will be completed in 2002.

The new assignment is a further manifestation of the co-operation
between Holmen Paper AB and Jaakko Pöyry Oy, dating back for more
than 30 years. Jaakko Pöyry Oy has served as main engineering
consultant for five major newsprint machine projects at the Hallsta
and Braviken paper mills in Sweden.

JAAKKO PÖYRY GROUP OYJ


Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Executive Vice President


Additional information by:

Kari Kalliala, President, Jaakko Pöyry Oy
Tel. +358 9 8947 2033, +358 40 540 8335
John Lindahl, Vice President, Paper Technology, Jaakko Pöyry Oy
Tel. +358 9 8947 2951, +358 40 505 6761


www.poyry.com

DISTRIBUTION:
Helsinki Exchanges
Major media