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STOCK EXCHANGE RELEASE 8 Jun 2004

JAAKKO PÖYRY GROUP AWARDED EUR 6.1 MILLION ASSIGNMENT FOR THE CONSTRUCTION OF A HYDROPOWER PLANT IN BULGARIA

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           June 8, 2004 at 2.30 p.m.

JAAKKO PÖYRY GROUP AWARDED EUR 6.1 MILLION ASSIGNMENT FOR THE
CONSTRUCTION OF A HYDROPOWER PLANT IN BULGARIA

Verbundplan (Austria) GmbH., which is part of the Jaakko Pöyry Group's
Energy business group, has been awarded engineering and project
management contracts by Natsionalna Elektricheska Kompania plc. (NEK),
Bulgaria for the 80 MW hydropower plant Tsankov Kamak, located in the
cascade of the Vacha river, 250 km southeast of Sofia. The total value
of the contracts is EUR 6.1 million, and the project implementation time
will be 42 months, until end of 2007.

The new Tsankov Kamak contract involves the construction of an arch dam
and an 80 MW hydropower plant, rehabilitation works on the existing
cascade and the integration of all works to improve the utilisation and
water management of the other cascade hydropower stations.

This project is partly financed as the first bilateral Joint

Implementation Project between Austria and Bulgaria, supported through
the utilisation of the flexible mechanisms of the Kyoto Protocol.
Verbundplan has also assisted in arranging the project financing.

Verbundplan was recently acquired by Jaakko Pöyry Group Oyj and is
Austria´s leading engineering and consulting company in the energy,
infrastructure and environment sector. 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



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

Additional information by:
Richard Pinnock, President and CEO, Electrowatt-Ekono, Zurich,
Switzerland
Tel. +41 76 356 2410
Günter Moraw, Managing Director, Verbundplan, Vienna, Austria
Tel. +43 153 1135 4701
Thomas Kriesch, Head Energy Division, Verbundplan, Saltzburg, Austria
Tel. +43 1 536 052 2585

www.poyry.com

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