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STOCK EXCHANGE RELEASE 11 Jun 2002

JAAKKO PÖYRY GROUP AWARDED EUR 22 MILLION DESIGN ENGINEERING CONTRACT IN OMAN

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           June 11, 2002, at 10.30 a.m.

JAAKKO PÖYRY GROUP AWARDED EUR 22 MILLION DESIGN ENGINEERING
CONTRACT IN OMAN

Electrowatt Engineering Oman, which is part of the Jaakko Pöyry
Group's Energy business group, has been awarded a local design
services contract by Petroleum Development Oman (PDO). The contract
consists of multi-discipline design engineering services for oil and
gas production facilities of the Marmul Production Asset in the
Sultanate of Oman. In addition, the contract covers various power
and electrical engineering services. The contract period starts
immediately and continues until June 2006. The total contract value
amounts to about EUR 22 million.

PDO is the major oil and gas producer in Oman with the Government of
Oman, Shell and TotalFinaElf among its shareholders. PDO puts
special focus on quality, safety and value-enhancing solutions. A
special feature is PDO's T50 strategy to recover, via enhanced

recovery techniques, more oil from the fields than is conventionally
done.

The new assignment cements the close relationship that has been
developed between PDO and Electrowatt-Ekono over the past decade and
is a continuation to a previous four-year contract. Furthermore, it
enhances the Energy business group's position in the Middle Eastern
oil and gas and power markets.

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



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


Additional information by:
Jukka Nyrölä, CEO, Electrowatt-Ekono, Zurich/Switzerland
Tel. +41 76 356 2451
Alex Campbell, Regional Director, Middle East, Electrowatt
Engineering Ltd
Tel. +968 567 860

www.poyry.com

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