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PRESS RELEASE 13 Nov 2002

JAAKKO PÖYRY GROUP AWARDED EUR 1.8 MILLION WASTE-TO-ENERGY CONTRACT IN GERMANY


Electrowatt-Ekono GmbH of Hamburg, which is part of the Jaakko Pöyry Group's Energy business group, has been awarded an engineering contract by GMVA Niederrhein for the expansion and modernisation of its waste-to-energy plant in Oberhausen, Germany. The contract value amounts to EUR 1.8 million.

The services of Electrowatt-Ekono include complete engineering covering conceptual design, permitting, project management, site supervision and commissioning. GMVA Niederrhein is operating a large waste-to-energy plant in Oberhausen with an annual capacity of more than 500 000 t of municipal solid waste. The plant comprises six incineration lines commissioned about 20 years ago.

The project aims at modernising the plant with a new large incineration line including a grate and a boiler to increase the capacity and to replace two of the old lines. A new turbo-generator and modernisation of the water steam cycle are also part of the project.

Electrowatt-Ekono GmbH has a long track record in the engineering and project management of waste-to-energy plants in Germany and the Benelux countries, including modernisation of old installations.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 127 million in 2001. Electrowatt-Ekono has offices in 20 countries and employs 1200 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations

Additional information by:

Jukka Nyrölä, CEO, Electrowatt-Ekono, Zurich/Switzerland

Tel. +41 76 356 2451

Jean-Jacques Nyffenegger, Head, Business Area Renewable, Electrowatt-Ekono, Zurich/Switzerland

Tel. +41 76 356 2058

www.poyry.com

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