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STOCK EXCHANGE RELEASE 19 Sep 2003

JAAKKO PÖYRY GROUP AWARDED EUR 7 MILLION EXTENSION OF HIGH-SPEED RAILWAY PROJECT IN TAIWAN

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           September 19, 2003 at 10.00 a.m.

JAAKKO PÖYRY GROUP AWARDED EUR 7 MILLION EXTENSION OF HIGH-SPEED
RAILWAY PROJECT IN TAIWAN

Electrowatt Infra AG, which is part of the Jaakko Pöyry Group's
Infrastructure & Environment business group, has been awarded an
extension of the Taiwan high-speed railway project by Taiwan High
Speed Rail Corporation (THSRC). The assignment is a continuation to
the two previous contracts, continuing until 2005 when the high-
speed railway will be opened for traffic. The value of the contract
is about EUR 7 million.

Electrowatt Infra will continue as Independent Checking
Engineer/Independent Site Engineer (ICE/ISE), in the capacity of
joint owner of International Railway Engineering Group (IREG) since
1999. IREG is a joint venture between Electrowatt Infra of
Switzerland, the UK consultant Mott MacDonald, DE-Consult of Germany
and the French consultant SYSTRA. The total contract value for the
extension is EUR 32.5 million.

The project comprises a new high-speed rail link between Taipei and
Kaohsiung. The link is 345 km long, including altogether 300 km of
viaducts and tunnels. The design speed is set at 350 km/h in order
to achieve a journey time of 90 min. This EUR 15.4 billion project
is currently one of the most challenging BOT transport projects in
the world. The owner, THSRC, is a joint venture of major Taiwanese
industrial and financial companies.

The Jaakko Pöyry Group's Infrastructure & Environment business group
uses the brand name Jaakko Pöyry Infra. Its net sales for 2002 were
EUR 123 million. The business group has offices in 12 countries and
it employs 1350 experts worldwide.

JAAKKO PÖYRY GROUP OYJ


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


Additional information by:
Roger Clifford, Head of Electrowatt Infra Asia, Taiwan
Tel. +886 2 2721 0131

www.poyry.com


DISTRIBUTION:
Helsinki Exchanges
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