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STOCK EXCHANGE RELEASE 26 Jan 1999

JAAKKO PÖYRY GROUP AWARDED A POWER PLANT CONSTRUCTION CONTRACT IN THAILAND

Electrowatt Engineering (Thailand) Ltd., a Jaakko Pöyry Group company, has been awarded a EUR 17 million engineering and construction contract from Thai National Power Ltd. (wholly owned subsidiary of National Power PLC of UK). Together with the main power equipment supplier, Sumitomo Corporation of Japan, Electrowatt Engineering shall deliver, by September 2000, a 110 MW gas-fuel combined cycle power plant which will provide power to Siam Eastern Industrial Park in Rayong, Thailand.

This project is remarkable in that it is one of the few power plants which is currently being carried out under the small power producers (SPP) regulations following the July 1997 economic downturn in Thailand.

With the technical support of its Swiss parent company, Electrowatt Engineering AG., Electrowatt Engineering (Thailand) Ltd. is responsible for the overall project management, onshore procurement of balance of plant equipment and the engineering and construction.

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. Peter Fischer, Managing Director, Electrowatt Engineering (Thailand) Ltd. Bangkok/Thailand

Tel. +66 2 238 33 45

Fax +66 2 266 53 34

e-mail: