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PRESS RELEASE 25 Oct 2004

JAAKKO PÖYRY GROUP AWARDED EUR 3.1 MILLION PROJECT MANAGEMENT SUPPORT SERVICES CONTRACT IN UK

Electrowatt-Ekono, which is a part of the Jaakko Pöyry Group's Energy Business Group, has been awarded a contract by the UK Government for the provision of project management services for development and justification of a scheme design for upgraded maritime utility support facilities. The value of this assignment is EUR 3.1 million, extending to 2006.

The facility is located at Her Majesty's Naval Base, Devonport in Devon, UK. The project considers the review and upgrade of ship and submarine support services. Electrowatt-Ekono's services include project management, surveys of existing utility equipment/structures, option studies, scheme design development, safety and environmental justifications and the preparation of the business case for subsequent stages. On completion the upgrade will supply about 12 MVA electrical power and 400 m3/h fresh and salt water together with various other utility demands.

The contract is additional to an existing contract running to 2008, under which Electrowatt-Ekono provides project management and specialist support services for the maintenance and upkeep of site safety cases and engineering justifications.

Devonport Naval Base is the largest naval base in Western Europe covering some 130 hectares and containing over 5 km of deep-water berths, five fitting out basins and fifteen dry docks for the refit and maintenance of surface vessels and submarines.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 98 million in 2003. Electrowatt-Ekono has offices in 23 countries and employs 1300 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Teuvo Salminen

Deputy to President and CEO

Additional information by:

Richard Pinnock, CEO, Electrowatt-Ekono, Zurich, Switzerland

Tel. +41 76 356 2410

David Carey, Managing Director, Electrowatt-Ekono (UK), Horsham, UK

Tel. +44 1403 224200

www.poyry.com

DISTRIBUTION:

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