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STOCK EXCHANGE RELEASE 28 Jun 2004

JAAKKO PÖYRY GROUP AWARDED EUR 5 MILLION PAPER MILL REBUILD CONTRACT BY NORSKE SKOG

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           June 28, 2004 at 9.00 a.m.

JAAKKO PÖYRY GROUP AWARDED EUR 5 MILLION PAPER MILL REBUILD CONTRACT BY
NORSKE SKOG

Jaakko Pöyry Oy, which is part of the Jaakko Pöyry Group's Forest
Industry business group, has been commissioned to provide engineering
for the rebuild project of Norske Skog's Albury PM1 in Australia. The
value of the services to be provided is close to EUR 5 million. The
rebuild project is scheduled to be finished in early 2006.

The contract includes project management services and complete
engineering for the modernisation of PM1, including also expansions in
the pulp preparation and effluent treatment departments, as well as a
new winder. The work will be mainly carried out by Jaakko Pöyry's
offices in Helsinki and Melbourne.

This assignment is a further manifestation of the cooperation between
Norske Skog and Jaakko Pöyry, dating back for more than 20 years to the
Golbey paper mill projects in France.

The Jaakko Pöyry Group's Forest Industry business group operates under
the brand name Jaakko Pöyry. Its net sales for 2003 were EUR 176
million. The Forest Industry business group has offices in 18 countries
and employs 2100 experts worldwide.

JAAKKO PÖYRY GROUP OYJ



Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Deputy to President and CEO


Additional information by:
John Lindahl, President, Jaakko Pöyry Oy,
Tel. +358 9 8947 2951, +358 40 503 6761
Stefan Antell, Vice President, Jaakko Pöyry Oy
Tel. +358 9 8947 2344, +358 40 520 0262

www.poyry.com


DISTRIBUTION:
Helsinki Exchanges
Major media