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PRESS RELEASE 29 Jun 2004

JAAKKO PÖYRY GROUP AWARDED EUR 4.3 MILLION PROJECT MANAGEMENT SERVICES CONTRACT FOR POWER PLANT IN VIETNAM


Electrowatt-Ekono, the Energy business group of Jaakko Pöyry Group Oyj, has been awarded a project management services contract by Petro Vietnam for a 720 MW combined cycle gas turbine power plant. The plant is located in the Ca Mau province, southeast of Ho Chi Minh City, and it is one of the largest power projects under development in Vietnam. The total value of Electrowatt-Ekono's services amounts to EUR 4.3 million and the project implementation time will be 32 months.

Electrowatt-Ekono has assisted the client with the preparation of definite design and tender documents for the project. This assignment for the implementation phase comprises evaluation of the bid of the EPC contractor, EPC contract negotiation, review of the suppliers' design and supervision of construction, erection and commissioning. This new project will strengthen Electrowatt-Ekono's position as a leading consultant in large size combined cycle gas turbine power plants.

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, President and CEO, Electrowatt-Ekono, Zurich, Switzerland

Tel. +41 76 356 2410

Ari Asikainen, Director, Electrowatt-Ekono, Business Area Power & Heat

Tel. +358 9 4691 476

Peter Fischer, Director, Electrowatt-Ekono Asia-Pacific

Tel. +66 2 650 3171

www.poyry.com

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