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STOCK EXCHANGE RELEASE 5 Feb 1999

JAAKKO PÖYRY GROUP AWARDED A LIGHT RAIL CONSTRUCTION CONTRACT IN VENEZUELA

Electrowatt Engineering AG (EWE), a Jaakko Pöyry Group company, has been awarded by C.A. Metro de Valencia, Venezuela, a EUR 9 million construction contract. The contract is regarding Valencia's new Light Rail Transportation System which is scheduled for completion in 2002.

Together with the local checking engineer, VEPICA of Caracas, EWE shall check and supervise the design, fabrication, installation and commissioning of the electro-mechanical equipment for the 6.5 km Light Rail Transportation System in Valencia. The total value of the electro-mechanical equipment is worth EUR 106 million. The EWE/VEPICA joint venture is also responsible for the supervision of the civil works, and the coordination of the interfaces between electro-mechanical works and the locally contracted civil works.

Electrowatt Engineering is Switzerland's largest engineering company, with net sales of EUR 125 million and 1200 staff worldwide. The Jaakko Pöyry Group has net sales of around EUR 350 million and employs some 4000 people worldwide.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen

Teuvo Salminen

For further information please contact:

Mr. Lothar Garbe, Head of Tunnels and Transportation Business Unit, Electrowatt Engineering Switzerland, Zürich

Tel. +41 1 385 29 81

Fax +41 1 385 24 25

E-mail:

Mr. Teuvo Salminen, Executive Vice President, Jaakko Pöyry Group Oyj, Helsinki/Finland

Tel. +358 9 8947 2872, +358 400 420 285

Fax. +358 9 878 2563

E-mail:

Distribution:

Helsinki Stock Exchange

Major Media