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STOCK EXCHANGE RELEASE 1 Jul 1999

JAAKKO PÖYRY GROUP AWARDED A POWER PLANT CONSTRUCTION CONTRACT IN THAILAND

Electrowatt Engineering Ltd. (EWE), a Jaakko Pöyry Group company, has signed a contract with Amata Power Co., Thailand, for the supply of a gas turbine cogeneration plant. The plant will be delivered by December 1999. The total project value is approx. EUR 6.3 million and comprises two Gas Turbines with Heat Recovery Steam Generators (HRSG) and 2 Package Boilers. The plant will provide 8 MWe power and 30t/h steam to Amata City Industrial Park in Rayong, Thailand.

Power plant construction activity has been very low since the economic downturn started in Thailand in July 1997. Amata Power cogeneration plant and the Thai National power plant order, which was received by EWE in January 1999, are among the first few power projects in Thailand which have started after the 1997 economic downturn.

Electrowatt Engineering (Thailand) Ltd. is responsible for the project management, local procurement of balance of plant equipment and the civil engineering and construction. Electrowatt Engineering Ltd., the parent company of Electrowatt Engineering (Thailand) Ltd., is responsible for the imported part of the supply. Subcontractor for the Solar Turbine and for the HRSG is the Swiss company TUMA Turbomach SA.

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

Mr. Ronald Schlegel, Head of Electrowatt Engineering Energy Division Zurich/Switzerland

Tel. +41 1 385 27 20

Mr. Jukka Nyrölä, President and CEO Electrowatt Engineering Ltd, Zurich/Switzerland

Tel. +358 40 500 9706

www.poyry.com

DISTRIBUTION:

Helsinki Exchanges

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